Triplex with Updated
For Sale
$379,900
816 6th Street NW, Albuquerque, NM 87102
ResidentialIncome, Albuquerque, NM
Property Size2,201 SF
Lot Size0.07 Acres
Price / SF$172.60
Days on Market9
Property Features for 816 6th Street NW
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-1A*
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 2, Bathroom 2, Bedroom 1, Bathroom 3
Appliances
FreeStandingElectricRange
Subdivision
Tract Add
Directions
Lomas Blvd. and 5th Street(ONE-WAY) turn NORTH 2 blocks to Marble. Turn left one block to 6th Street(ONE-WAY) Turn left. House and unitson left side at 816 6th Street. Can Park in front of house. GREEN loading zone.
Standard status
Active
APN
101405814719534417
Size
2,201 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Annual Amount
2053
Building Details
Year built
1911
Floors in Building
1
Number of units
3
Flooring type
Wood
Building materials
Frame
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Faithe Real Estate Group
(505) 401-0721
Added: Sep 2
Changed: Sep 10
Last Checked: Sep 10 at 4:06PM
MLS# 1110516
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,201-square-foot triplex at 816 6th Street NW includes a two-bedroom main residence, a one-bedroom apartment, and a studio. The primary home has wood flooring, refrigerated air, central forced-air heat, a fireplace, laundry space, attic access, and separate gas and electric meters. The apartment provides hardwood floors, a wall furnace, evaporative cooling, a window A/C unit, and an individual water heater. The studio has a furnace and window A/C. Water serves all three units, while the apartment and studio share a meter.
Property updates include a new shingle and rolled roof completed in May 2024 and exterior painting finished in March 2025. Backyard access reaches the sewer cleanout. The property was built in 1911 and sits on a 0.07-acre lot in Albuquerque, NM 87102.
Property updates include a new shingle and rolled roof completed in May 2024 and exterior painting finished in March 2025. Backyard access reaches the sewer cleanout. The property was built in 1911 and sits on a 0.07-acre lot in Albuquerque, NM 87102.
Key Highlights
- 2,201‑square‑foot triplex with a two‑bedroom house, one‑bedroom apartment, and studio
- New shingle and rolled roof completed in May 2024
- Exterior paint completed in March 2025
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
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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
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Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with varied layouts, separate utility metering, and recent exterior improvements.
Where is this triplex located?
The property is located at 816 6th Street 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: 2,201‑square‑foot triplex with a two‑bedroom house, one‑bedroom apartment, and studio; New shingle and rolled roof completed in May 2024; Exterior paint completed in March 2025
