Historic 4-Unit
For Sale
$797,000
907 Silver Ave, Albuquerque, NM 87102
Two-story property combines a 2,120-square-foot main residence with three one-bedroom apartments and multiple outdoor areas.
Property Size3,806 SF
Price / SF$209.41
Days on Market26
Property Features for 907 Silver Ave
General Information
Standard status
Active
Size
3,806 SF
Total Parking Spaces
3
Property subtype
Residential Income
Units
Unit Mix
3 x 1BR/1BA
Multifamily Units
4
Amenities
outdoor spaces
garden areas
multiple decks
bonus studio
Building Details
Year Built
1911
Buildings
2
Construction
Bungalow
Listing Agency:
Coldwell Banker Legacy
(505) 440-9895
Listed By:
Patricia A Culp · License #36271
Source:
Albuquerquehomefinders
Added: Aug 5
Changed: Aug 29
Last Checked: Aug 25 at 5:55AM
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 Coldwell Banker Legacy
Investment Insights
Based on property information with market context.
Built in 1911, this two-story quadplex at 907 Silver Ave in Albuquerque includes a 2,120-square-foot main residence alongside three one-bedroom, one-bath apartments. The primary home features two primary suites, an open living area, custom fireplace, updated kitchen with custom cabinetry, stainless steel appliances, granite countertops, and a large island. Additional space includes a half bath with laundry, office or loft area, basement rooms, and a separate laundry room serving the rentals.
Outdoor improvements include multiple decks, garden areas, a one-car garage, gated off-street parking for two cars, and a bonus studio. The property is located in Downtown Albuquerque near business, dining, and entertainment uses. One apartment is attached to the main house, while two are located in the rear unit.
Outdoor improvements include multiple decks, garden areas, a one-car garage, gated off-street parking for two cars, and a bonus studio. The property is located in Downtown Albuquerque near business, dining, and entertainment uses. One apartment is attached to the main house, while two are located in the rear unit.
Key Highlights
- Four‑unit configuration with a 2,120SF main residence and three 1 bd 1 ba apartments
- Built in 1911 with two primary suites in the main home
- Updated kitchen with custom cabinets, SS appliances, granite, and a large island
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
$34,744
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
4.36%
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%
$694,880
$694.9K
Cap Rate 7%
$496,343
$496.3K
Cap Rate 9%
$386,044
$386.0K
Market Conditions
NOI Build-Up for 3,806 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
$52.5K $13.80/SF
− Vacancy
−$2.9K −$0.76/SF
EGI
$49.6K $13.04/SF
− OpEx
−$14.9K −$3.91/SF
NOI
$34.7K $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%
$694,880
Cap Rate 7%
$496,343
Cap Rate 9%
$386,044
Alternative Uses
Best Use
Multifamily LT 5
$496.3K
$434.3K – $579.1K
NOI $34,744 @ 7.0% cap · market cap 4.36%
Second Best
Apartment 5plus
$459.3K
$401.9K – $535.8K
NOI $32,148 @ 7.0% cap · market cap 4.03%
Theoretical Best
Office A
$920.7K
$805.7K – $1.07M
NOI $64,452 @ 7.0% cap · market cap 8.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Two-story property combines a 2,120-square-foot main residence with three one-bedroom apartments and multiple outdoor areas.
Where is this quadplex located?
The property is located at 907 Silver Ave Albuquerque, NM.
What is the asking price?
The asking price for this property is $797,000.
What are key features of this property?
This property features: Four‑unit configuration with a 2,120SF main residence and three 1 bd 1 ba apartments; Built in 1911 with two primary suites in the main home; Updated kitchen with custom cabinets, SS appliances, granite, and a large island
