Downtown Albuquerque Fourplex
For Sale
$530,000
Pending
907 Coal Ave SW, Albuquerque, NM 87102
Fourplex near downtown Albuquerque with diverse unit layouts.
Property Size3,135 SF
Days on Market235
Property Features for 907 Coal Ave SW
General Information
Standard status
Pending
Size
3,135 SF
Property subtype
Multifamily
Zoning
R-MH
Building Details
Year Built
1916
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd Clarke · License #13711
(505) 440-8633
Source:
Carnm.resimplifi
Added: Feb 22
Changed: Oct 14
Last Checked: Oct 14 at 7:42PM
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.
Investment Insights
Based on property information with market context.
This fourplex is located in downtown Albuquerque, within walking distance of restaurants, shops, and cultural amenities. It is also a short bike ride to the Old Town Plaza, three area hospitals, and the UNM/CNM campuses. The property features two large two-bedroom units, one with a washer/dryer included and one with hookups. Additionally, there is a small one-bedroom second-floor apartment and a medium-sized two-bedroom casita that also includes a washer/dryer. Each apartment has a unique floor plan with character touches and updates. The property is located in a west downtown submarket. The area is experiencing revitalization and tenant demand. The expansion of Netflix, Facebook, Intel, and Amazon, as well as announcements of new employment opportunities, may impact the property's appreciation and rent growth. The property size is 3135 square feet.
Key Highlights
- Prime downtown location within walking distance of restaurants, shops, and cultural amenities.
- Fourplex property with diverse unit mix: two 2‑bedroom units, one 1‑bedroom, and one 2‑bedroom casita.
- Strong potential for appreciation and rent growth due to citywide expansion of major employers.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,618
Cap Rate
5.40%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$572,360
$572.4K
Cap Rate 7%
$408,829
$408.8K
Cap Rate 9%
$317,978
$318.0K
Market Conditions
NOI Build-Up for 3,135 SF
Gross rent
$43.3K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$40.9K $13.04/SF
− OpEx
−$12.3K −$3.91/SF
NOI
$28.6K $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 Rate 5%
$572,360
Cap Rate 7%
$408,829
Cap Rate 9%
$317,978
Alternative Uses
Best Use
Multifamily LT 5
$408.8K
$357.7K – $477.0K
NOI $28,618 @ 7.0% cap · market cap 5.40%
Second Best
Apartment 5plus
$378.3K
$331.0K – $441.3K
NOI $26,480 @ 7.0% cap · market cap 5.00%
Theoretical Best
Office A
$758.4K
$663.6K – $884.8K
NOI $53,089 @ 7.0% cap · market cap 10.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,856
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex near downtown Albuquerque with diverse unit layouts.
Where is this quadplex located?
The property is located at 907 Coal Ave SW Albuquerque, NM.
What is the asking price?
The asking price for this property is $530,000.
What are key features of this property?
This property features: Prime downtown location within walking distance of restaurants, shops, and cultural amenities.; Fourplex property with diverse unit mix: two 2‑bedroom units, one 1‑bedroom, and one 2‑bedroom casita.; Strong potential for appreciation and rent growth due to citywide expansion of major employers.
