Rented Triplex with Private
For Sale
$415,000
8700 Northeastern Boulevard NE, Albuquerque, NM 87112
ResidentialIncome, Albuquerque, NM
Property Size2,331 SF
Lot Size0.21 Acres
Price / SF$178.04
Days on Market61
Property Features for 8700 Northeastern Boulevard NE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-MH*
Bedrooms
6
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 3, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 4, Bedroom 1, Bedroom 5
Patio and Porch features
Patio
Interior features
CeilingFans
Exterior features
Patio
Appliances
Dryer, FreeStandingElectricRange, Microwave, Refrigerator, Washer
Subdivision
Snow Heights Add
Directions
From Menaul and Wyoming, south on Wyoming, east on Northeastern to property on the right.
Standard status
Active
APN
102005910008030215
Size
2,331 SF
Lot size
0.21 Acres
Taxes and HOA fees
Tax Annual Amount
10437
Utilities
Cooling system
Ceiling Fan(s)
Amenities
hickory cabinets
laminate countertops
white appliances
carpet and tile flooring
evaporative cooling
wall heater
stackable washer and dryer
front courtyard
private walled backyard
exterior storage closet
Building Details
Year built
1959
Floors in Building
1
Number of units
3
Flooring type
Tile, Carpet
Building materials
BrickVeneer, Frame, Stucco
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
The Bader RE Team · License #47250
(505) 301-9216
Added: Jul 23
Changed: Sep 18
Last Checked: Sep 20 at 11:06PM
MLS# 1111186
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 fully rented triplex contains 2,331 square feet across three residences, with approximately 775 square feet per unit. Each residence includes two bedrooms, one full bathroom, a kitchen with hickory cabinetry, laminate countertops, and white appliances, plus carpet and tile flooring. Cooling is provided by evaporative systems and ceiling fans, with wall heaters for supplemental comfort. Stackable washers and dryers are included in the units.
Outdoor features include a front courtyard, private walled backyard, exterior storage closet, patio space, and two parking spaces per residence. The 0.21-acre property was built in 1959 and uses brick veneer, frame, and stucco construction. Tenants pay electric and gas, while ownership covers water, sewer, trash, and maintenance. The property is near shopping, dining, and other amenities in Albuquerque’s Snow Heights area.
Outdoor features include a front courtyard, private walled backyard, exterior storage closet, patio space, and two parking spaces per residence. The 0.21-acre property was built in 1959 and uses brick veneer, frame, and stucco construction. Tenants pay electric and gas, while ownership covers water, sewer, trash, and maintenance. The property is near shopping, dining, and other amenities in Albuquerque’s Snow Heights area.
Key Highlights
- Fully rented triplex with 2,331 square feet
- Three units, each approximately 775 square feet with 2 bedrooms and 1 full bath
- Each residence includes a stackable washer and dryer
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
$21,279
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
5.13%
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%
$425,580
$425.6K
Cap Rate 7%
$303,986
$304.0K
Cap Rate 9%
$236,433
$236.4K
Market Conditions
NOI Build-Up for 2,331 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
$32.2K $13.80/SF
− Vacancy
−$1.8K −$0.76/SF
EGI
$30.4K $13.04/SF
− OpEx
−$9.1K −$3.91/SF
NOI
$21.3K $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%
$425,580
Cap Rate 7%
$303,986
Cap Rate 9%
$236,433
Alternative Uses
Best Use
Multifamily LT 5
$304.0K
$266.0K – $354.7K
NOI $21,279 @ 7.0% cap · market cap 5.13%
Second Best
Apartment 5plus
$281.3K
$246.1K – $328.2K
NOI $19,689 @ 7.0% cap · market cap 4.74%
Theoretical Best
Office A
$563.9K
$493.4K – $657.9K
NOI $39,474 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,126
Businesses Nearby
Explore this area
Business Placement
Demographics for 87112, NM
42,487
Population
20,083
Households
2.1
Avg Household Size
42
Median Age
38%
College-Educated
94%
High-School Grad
8.1 sq mi
ZIP Area
5,245
Density / Sq Mi
$69,610
Median Household Income
$41,427
Median Earnings
$1,056
Median Rent
$254,400
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 - Fully rented property with private outdoor areas and laundry equipment in each residence.
Where is this triplex located?
The property is located at 8700 Northeastern Boulevard NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Fully rented triplex with 2,331 square feet; Three units, each approximately 775 square feet with 2 bedrooms and 1 full bath; Each residence includes a stackable washer and dryer
