Three-Unit Residential
For Sale
$379,900
816 6th St NW, Albuquerque, NM 87102
Residential income property with a two-bedroom house, one-bedroom apartment, and studio configuration.
Property Size2,201 SF
Price / SF$172.60
Days on Market17
Property Features for 816 6th St NW
General Information
Standard status
Active
Size
2,201 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 2BR, 1 x 1BR, 1 x studio
Multifamily Units
3
Building Details
Year Built
1911
Listing Agency:
Platlabs, LLC
(303) 848-6215
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Sep 11
Changed: Sep 26
Last Checked: Sep 26 at 6:46AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Platlabs, LLC
Investment Insights
Based on property information with market context.
This three-unit residential property includes a 2,201-square-foot main house with two bedrooms, a separate one-bedroom apartment, and a studio. The main residence has wood flooring, refrigerated air, central forced-air heat, a fireplace, laundry room, attic access, and separate gas and electric meters. The apartment includes hardwood floors, a wall furnace, evaporative cooling, window A/C, and a dedicated water heater. The studio is equipped with a functioning furnace and window A/C.
A new shingle and rolled roof was completed in May 2024, followed by exterior painting in March 2025. The apartment and studio share a meter, while water service is shared across all three units. Rear access reaches the sewer cleanout, adding practical service access for the property.
A new shingle and rolled roof was completed in May 2024, followed by exterior painting in March 2025. The apartment and studio share a meter, while water service is shared across all three units. Rear access reaches the sewer cleanout, adding practical service access for the property.
Key Highlights
- Three‑unit layout with a 2‑bedroom house, 1‑bedroom apartment, and studio
- 2,201‑square‑foot property built in 1911
- New shingle and rolled roof completed in May 2024
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$20,092
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,840
$401.8K
Cap Rate 7%
$287,029
$287.0K
Cap Rate 9%
$223,244
$223.2K
Market Conditions
NOI Build-Up for 2,201 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$30.4K $13.80/SF
− Vacancy
−$1.7K −$0.76/SF
EGI
$28.7K $13.04/SF
− OpEx
−$8.6K −$3.91/SF
NOI
$20.1K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$401,840
Cap Rate 7%
$287,029
Cap Rate 9%
$223,244
Alternative Uses
Best Use
Multifamily LT 5
$287.0K
$251.2K – $334.9K
NOI $20,092 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$265.6K
$232.4K – $309.9K
NOI $18,591 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$532.5K
$465.9K – $621.2K
NOI $37,273 @ 7.0% cap · market cap 9.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
3,505
Businesses Nearby
Explore this area
Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Residential income property with a two-bedroom house, one-bedroom apartment, and studio configuration.
Where is this triplex located?
The property is located at 816 6th St NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $379,900.
What are key features of this property?
This property features: Three‑unit layout with a 2‑bedroom house, 1‑bedroom apartment, and studio; 2,201‑square‑foot property built in 1911; New shingle and rolled roof completed in May 2024
