Updated Apartment Community with
8600 Zuni SE Albuquerque, NM 87108
8600 Zuni SE, Albuquerque, NM, 87108
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For Sale
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Twenty-five updated units with secure shared outdoor space and an on-site community laundry room.
Property Size15,325 SF
Price / SF$117.03
Days on Market46
Property Features for 8600 Zuni SE
General Information
- Standard status
- Active
- Size
- 15,325 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing Agency
N.M. Apartments, Inc.
(505) 440-8633
Listed by
Todd Clarke · License #13711
Source
Crexi
Added: Jun 2 Checked: Jul 16 at 9:35 am
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 N.M. Apartments, Inc.
Investment Insights
Based on property information with market context.
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
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $248.3k | $16.20 |
| − Vacancy | −$12.9k | −$0.84 |
| EGI | $235.4k | $15.36 |
| − OpEx | −$105.9k | −$6.91 |
| NOI | $129.4k | $8.45 |
15,325 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.85M
$1.62M – $2.16M
NOI $129,445 @ 7.0% cap · market cap 7.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.71M
$3.24M – $4.33M
NOI $259,520 @ 7.0% cap · market cap 14.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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 SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,793,434.
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
