6-Unit Apartment
For Sale
$665,000
9238 4th St, Albuquerque, NM 87114
Two separated buildings provide a six-unit multifamily configuration with studios, one-bedroom apartments, and a two-bedroom unit.
Property Size3,575 SF
Lot Size0.48 Acres
Price / SF$186.01
Days on Market90
Property Features for 9238 4th St
General Information
Standard status
Active
Size
3,575 SF
Lot size
0.48 Acres
Property subtype
Residential Income
Site & Location
Neighborhood
Anv
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
2 x 1BR, 1 x 2BR, 3 x studio
Multifamily Units
6
Building Details
Year Built
1979
Buildings
2
Listing Agency:
Keller Williams Realty
Listed By:
Steven A Grant · License #52493
(505) 238-0308
Source:
Findalbuquerqueproperties
Added: Jul 29
Changed: Oct 25
Last Checked: Oct 24 at 5:07PM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
This six-unit apartment property comprises two separate buildings on a 0.48-acre parcel, with 3,575 square feet of improvements. The unit mix includes three studios, two one-bedroom apartments, and one two-bedroom apartment. The studios have documented short-term rental operating history, while the property also supports a traditional long-term leasing approach. Built in 1979, the asset offers a newer construction profile than much of Albuquerque’s small multifamily inventory.
The property is located at 9238 4th St NW in Albuquerque’s North Valley, along the 4th St corridor between Paseo Del Norte and Alameda. Balloon Fiesta Park is under 2 miles away, and I-25 provides access toward the metro core, Kirtland, and Sandia Labs. The Rio Rancho employment corridor, Intel’s expanding campus, and Presbyterian Rust Medical Center are across the river. County drainage, bike lane, and ADA improvements are underway on 4th St.
The property is located at 9238 4th St NW in Albuquerque’s North Valley, along the 4th St corridor between Paseo Del Norte and Alameda. Balloon Fiesta Park is under 2 miles away, and I-25 provides access toward the metro core, Kirtland, and Sandia Labs. The Rio Rancho employment corridor, Intel’s expanding campus, and Presbyterian Rust Medical Center are across the river. County drainage, bike lane, and ADA improvements are underway on 4th St.
Key Highlights
- Six‑unit apartment property with 3 studios, 2 one‑bedroom apartments, and 1 two‑bedroom unit
- Two separate buildings situated on a 0.48‑acre parcel
- 3,575 square feet of improvements
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,281
Cap Rate
4.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,620
$545.6K
Cap Rate 7%
$389,729
$389.7K
Cap Rate 9%
$303,122
$303.1K
Market Conditions
NOI Build-Up for 3,575 SF
Gross rent
$52.8K $14.76/SF
− Vacancy
−$3.2K −$0.89/SF
EGI
$49.6K $13.87/SF
− OpEx
−$22.3K −$6.24/SF
NOI
$27.3K $7.63/SF
Area
ZIP 87114
Vacancy
6.00%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$545,620
Cap Rate 7%
$389,729
Cap Rate 9%
$303,122
Alternative Uses
Best Use
Apartment 5plus
$389.7K
$341.0K – $454.7K
NOI $27,281 @ 7.0% cap · market cap 4.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$739.2K
$646.8K – $862.4K
NOI $51,746 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
6
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
312
Businesses Nearby
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Business Placement
Demographics for 87114, NM
69,402
Population
28,038
Households
2.5
Avg Household Size
37
Median Age
39%
College-Educated
95%
High-School Grad
20.9 sq mi
ZIP Area
3,321
Density / Sq Mi
$81,768
Median Household Income
$48,127
Median Earnings
$1,321
Median Rent
$296,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two separated buildings provide a six-unit multifamily configuration with studios, one-bedroom apartments, and a two-bedroom unit.
Where is this apartment building located?
The property is located at 9238 4th St Albuquerque, NM.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Six‑unit apartment property with 3 studios, 2 one‑bedroom apartments, and 1 two‑bedroom unit; Two separate buildings situated on a 0.48‑acre parcel; 3,575 square feet of improvements
