Downtown Triplex with Owner-Occupant
New
For Sale
$499,500
901 7th Street NW, Albuquerque, NM 87102
ResidentialIncome, Albuquerque, NM
Property Size1,995 SF
Lot Size0.12 Acres
Price / SF$250.38
Days on Market4
Property Features for 901 7th Street NW
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-1A*
Bedrooms
3
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bedroom 1, Bedroom 3, Bathroom 3, Bathroom 1, Bedroom 2
Parking
5
Appliances
Refrigerator
Subdivision
Perfecto Armijo Bros Add
Directions
From I-40 and Sixth street, south to Mountain, west to Seventh Street, south to the property.
Standard status
Active
APN
101405809122734906
Size
1,995 SF
Lot size
0.12 Acres
Taxes and HOA fees
Tax Description
Lot C, Portion of Marble Ave, Block 32, Perfecto Armijo Brothers
Tax Annual Amount
5310
Legal Description
Lot C, Portion of Marble Ave, Block 32, Perfecto Armijo Brothers
Utilities
Heating system
Central
Amenities
washer/dryers
Building Details
Year built
1931
Floors in Building
1
Number of units
3
Flooring type
Carpet, Wood, Vinyl
Building materials
Frame, Stucco
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Sep 7
Changed: Sep 10
Last Checked: Sep 10 at 4:06PM
MLS# 1110575
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 1931 triplex contains 1,995 square feet across three residential units on a 0.12-acre lot. The main residence is vacant and includes a one-bedroom, one-bathroom layout with hardwood flooring. Unit B also provides one bedroom along with a large laundry room, while Unit C has dedicated yard space. Washer/dryers are included in each unit, and the property features frame and stucco construction with central heating.
Located in Downtown Albuquerque, the property is within walking distance of breweries, specialty coffee shops, restaurants, grocery stores, major bus routes, and the city’s primary courthouses. Its address places it in ZIP Code 87102 and near Old Town Albuquerque.
Located in Downtown Albuquerque, the property is within walking distance of breweries, specialty coffee shops, restaurants, grocery stores, major bus routes, and the city’s primary courthouses. Its address places it in ZIP Code 87102 and near Old Town Albuquerque.
Key Highlights
- 1931‑built triplex with 1,995 square feet on a 0.12‑acre lot
- Three residential units, including two one‑bedroom layouts
- Main unit is vacant and includes one bedroom and one bathroom
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
$18,212
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
3.65%
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%
$364,240
$364.2K
Cap Rate 7%
$260,171
$260.2K
Cap Rate 9%
$202,356
$202.4K
Market Conditions
NOI Build-Up for 1,995 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
$27.5K $13.80/SF
− Vacancy
−$1.5K −$0.76/SF
EGI
$26.0K $13.04/SF
− OpEx
−$7.8K −$3.91/SF
NOI
$18.2K $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%
$364,240
Cap Rate 7%
$260,171
Cap Rate 9%
$202,356
Alternative Uses
Best Use
Multifamily LT 5
$260.2K
$227.7K – $303.5K
NOI $18,212 @ 7.0% cap · market cap 3.65%
Second Best
Apartment 5plus
$240.7K
$210.6K – $280.9K
NOI $16,851 @ 7.0% cap · market cap 3.37%
Theoretical Best
Office A
$482.6K
$422.3K – $563.1K
NOI $33,784 @ 7.0% cap · market cap 6.76%
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
2,353
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units offer individual outdoor space, in-unit laundry, and access to established downtown amenities.
Where is this triplex located?
The property is located at 901 7th Street NW Albuquerque, NM.
What is the asking price?
The asking price for this property is $499,500.
What are key features of this property?
This property features: 1931‑built triplex with 1,995 square feet on a 0.12‑acre lot; Three residential units, including two one‑bedroom layouts; Main unit is vacant and includes one bedroom and one bathroom
