Quadplex with New
For Sale
$349,000
Pending
A-d-1029 Palomas Dr Se, Albuquerque, NM 87108
Fully leased property with one- and two-bedroom apartments near the VA Hospital.
Property Size3,199 SF
Days on Market33
Property Features for A-d-1029 Palomas Dr Se
General Information
Standard status
Pending
Size
3,199 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,612
Listing Agency:
Couture Brokerage
(505) 321-3259
Listed By:
Toni-Lei Renee Ponic · License #15258
(505) 321-3259
Source:
Exprealty
Added: Jul 28
Changed: Aug 20
Last Checked: Aug 29 at 12:13PM
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 Couture Brokerage
Investment Insights
Based on property information with market context.
This 3,199-square-foot quadplex includes three two-bedroom, one-bath units and one one-bedroom, one-bath unit. The property is fully leased, and a Torch down Appex 4.5M roof was installed in April 2024.
The property is located near the VA Hospital and other medical facilities, with shopping, dining, and major transportation routes also nearby. Its four-unit configuration combines multiple two-bedroom residences with a one-bedroom unit in a single income-producing property.
The property is located near the VA Hospital and other medical facilities, with shopping, dining, and major transportation routes also nearby. Its four-unit configuration combines multiple two-bedroom residences with a one-bedroom unit in a single income-producing property.
Key Highlights
- 3,199‑square‑foot quadplex with three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- Torch down Appex 4.5M roof installed April 2024
- Fully leased property
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
$29,203
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
8.37%
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%
$584,060
$584.1K
Cap Rate 7%
$417,186
$417.2K
Cap Rate 9%
$324,478
$324.5K
Market Conditions
NOI Build-Up for 3,199 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
$44.1K $13.80/SF
− Vacancy
−$2.4K −$0.76/SF
EGI
$41.7K $13.04/SF
− OpEx
−$12.5K −$3.91/SF
NOI
$29.2K $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%
$584,060
Cap Rate 7%
$417,186
Cap Rate 9%
$324,478
Alternative Uses
Best Use
Multifamily LT 5
$417.2K
$365.0K – $486.7K
NOI $29,203 @ 7.0% cap · market cap 8.37%
Second Best
Apartment 5plus
$386.0K
$337.8K – $450.4K
NOI $27,021 @ 7.0% cap · market cap 7.74%
Theoretical Best
Office A
$773.9K
$677.2K – $902.9K
NOI $54,173 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,595
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
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 - Fully leased property with one- and two-bedroom apartments near the VA Hospital.
Where is this quadplex located?
The property is located at A-d-1029 Palomas Dr Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $349,000.
What are key features of this property?
This property features: 3,199‑square‑foot quadplex with three 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; Torch down Appex 4.5M roof installed April 2024; Fully leased property
