Updated Apartment Community with
For Sale
$1,594,615
8600 Zuni Rd SE, Albuquerque, NM 87108
Twenty-five updated units with secure shared outdoor space and an on-site community laundry room.
Property Size16,020 SF
Price / SF$99.54
Days on Market143
Property Features for 8600 Zuni Rd SE
General Information
Standard status
Active
Size
16,020 SF
Property subtype
Multi-Family
Additional Details
Cap Rate
11.1%
Multifamily Units
25
Building Details
Year Built
1960
Tenancy
Multi
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Source:
Thesouthwestlife
Added: Jun 3
Changed: Oct 12
Last Checked: Oct 7 at 2:33PM
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 NM Apartment Advisors, Inc.
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Investment Insights
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This updated 25-unit apartment community offers a straightforward unit mix of twenty-four 1 bedroom, 1 bath apartments and one 2 bedroom, 1 bath apartment. Apartments have been updated with care for tenant comfort while retaining the property’s original vintage charm. Recent improvements include thermal windows, updated fixtures, fresh paint, and Luxury Vinyl Plank flooring. Interior layouts feature open kitchens with counter space and bar tops, along with oversized full bathrooms with mid-century modern built-ins and tile work, including extensive counter and vanity space.
The community includes a soft-gated entry and parking right in front of apartments. For shared amenities, residents have access to a large community laundry room, with free machines provided for residents, plus multiple secured communal outdoor spaces. A new dog run is included among the outdoor updates. The property is positioned in the Southeast area near Zuni and Wyoming, providing residents with access to shopping, public transit, and nearby destinations including Kirtland Air Force Base and Sandia Labs.
From a tenant-support standpoint, the combination of updated interiors, convenient parking, and resident-focused shared amenities supports everyday livability. Ownership structure includes 2024 changes in utility responsibility, with the owner paying utilities for 22 of 25 units at that time, reduced to 9 units as of today.
The community includes a soft-gated entry and parking right in front of apartments. For shared amenities, residents have access to a large community laundry room, with free machines provided for residents, plus multiple secured communal outdoor spaces. A new dog run is included among the outdoor updates. The property is positioned in the Southeast area near Zuni and Wyoming, providing residents with access to shopping, public transit, and nearby destinations including Kirtland Air Force Base and Sandia Labs.
From a tenant-support standpoint, the combination of updated interiors, convenient parking, and resident-focused shared amenities supports everyday livability. Ownership structure includes 2024 changes in utility responsibility, with the owner paying utilities for 22 of 25 units at that time, reduced to 9 units as of today.
Key Highlights
- 25‑unit apartment community built in 1960 at 8600 Zuni SE in the International District
- Unit mix: 24 one‑bedroom/one‑bath apartments and 1 two‑bedroom/one‑bath apartment
- 2024 update: utilities were paid for 22 of 25 units, reduced from the prior arrangement
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,316
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,706,320
$2.7M
Cap Rate 7%
$1,933,086
$1.9M
Cap Rate 9%
$1,503,511
$1.5M
Market Conditions
NOI Build-Up for 16,020 SF
Gross rent
$259.5K $16.20/SF
− Vacancy
−$13.5K −$0.84/SF
EGI
$246.0K $15.36/SF
− OpEx
−$110.7K −$6.91/SF
NOI
$135.3K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,706,320
Cap Rate 7%
$1,933,086
Cap Rate 9%
$1,503,511
Alternative Uses
Best Use
Apartment 5plus
$1.93M
$1.69M – $2.26M
NOI $135,316 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.88M
$3.39M – $4.52M
NOI $271,289 @ 7.0% cap · market cap 17.01%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
25
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
755
Businesses Nearby
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Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Twenty-five updated units with secure shared outdoor space and an on-site community laundry room.
Where is this apartment building located?
The property is located at 8600 Zuni Rd SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,594,615.
What are key features of this property?
This property features: 25‑unit apartment community built in 1960 at 8600 Zuni SE in the International District; Unit mix: 24 one‑bedroom/one‑bath apartments and 1 two‑bedroom/one‑bath apartment; 2024 update: utilities were paid for 22 of 25 units, reduced from the prior arrangement
