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1005 Carlisle Blvd SE - Ridgecrest 7 7 Unit Apartment Building Offered at $1,436,047 CAD at a 5.86% Cap Rate Albuquerque, NM 87106
Investment Highlights
- Washer / Dryers in All Units
- 2 Detached Garages
- Ample Off-Street Parking - 2+ Spaces per Unit
- Private Yard for 5 of 7 Units
- 2 Large Storage Rooms
- All Apartments are Renovated
Executive Summary
Unique opportunity to own a quality, updated 7 Unit Apartment Compound. This unique listing at 1003 - 1005 Carlisle SE offers a 4-plex and a tri-plex on two separate parcels packaged together. The fully revitalized community is embedded in an area of redevelopment in the Knob Heights Neighborhood on the south side of Ridgecrest - walking distance to Castle Coffee, the Source Community Center, a Community Garden, multiple neighborhood parks, and just minutes to UNM, CNM, Kirtland Air Force Base, the Albuquerque International Sunport, and I-25.
All seven apartments have been modernized with care and an eye for resident comfort. Classic, well-preserved vintage finishes have been thoughtfully combined with all the right amenities - like in unit washer / dryers, very private yard spaces, updated fixtures and finishes, and additional storage. Some units have bonus detached oversized garage or carport spaces. 1005 Carlisle SE has a brand new roof. The property is ideal for a value-add investor looking to capitalize on neighborhood opportunities presented by UNM, regional hospitals, the Touro College of Dental Medicine, Kirtland Air Force Base, as well as new developments at Max Q, The Aviation Center of Excellence, Netflix, and the multitude of new jobs coming to the Albuquerque Metro’s booming south side. Investors with an appetite for bigger projects will especially love the surplus of off-street parking and the potential of the oversized 2 car garage with huge (currently unused) bonus workshop rooms. This detached, separately metered building is teed up to make 1 or 2 additional apartments to complete this special compound. Or consider furnishing some or all of the apartments for ripe executive rental opportunities in this dynamic area.
*While the sellers would prefer to sell the compound together, they will also consider selling each property separately. Inquire with Listing Brokers for more information.
All seven apartments have been modernized with care and an eye for resident comfort. Classic, well-preserved vintage finishes have been thoughtfully combined with all the right amenities - like in unit washer / dryers, very private yard spaces, updated fixtures and finishes, and additional storage. Some units have bonus detached oversized garage or carport spaces. 1005 Carlisle SE has a brand new roof. The property is ideal for a value-add investor looking to capitalize on neighborhood opportunities presented by UNM, regional hospitals, the Touro College of Dental Medicine, Kirtland Air Force Base, as well as new developments at Max Q, The Aviation Center of Excellence, Netflix, and the multitude of new jobs coming to the Albuquerque Metro’s booming south side. Investors with an appetite for bigger projects will especially love the surplus of off-street parking and the potential of the oversized 2 car garage with huge (currently unused) bonus workshop rooms. This detached, separately metered building is teed up to make 1 or 2 additional apartments to complete this special compound. Or consider furnishing some or all of the apartments for ripe executive rental opportunities in this dynamic area.
*While the sellers would prefer to sell the compound together, they will also consider selling each property separately. Inquire with Listing Brokers for more information.
Data Room Click Here to Access
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$134,015
|
$27.89
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$6,700
|
$1.39
|
| Effective Gross Income |
$127,314
|
$26.50
|
| Taxes |
$6,299
|
$1.31
|
| Operating Expenses |
$41,009
|
$8.53
|
| Total Expenses |
$47,308
|
$9.85
|
| Net Operating Income |
$80,006
|
$16.65
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $134,015 |
| Annual Per SF | $27.89 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $6,700 |
| Annual Per SF | $1.39 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $127,314 |
| Annual Per SF | $26.50 |
| Taxes (CAD) | |
|---|---|
| Annual | $6,299 |
| Annual Per SF | $1.31 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $41,009 |
| Annual Per SF | $8.53 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $47,308 |
| Annual Per SF | $9.85 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $80,006 |
| Annual Per SF | $16.65 |
Property Facts
| Price | $1,436,047 CAD | Property Type | Multifamily |
| Price Per Unit | $205,150 CAD | Building Size | 4,805 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 5.86% | No. Stories | 2 |
| Gross Rent Multiplier | 10.72 | Year Built/Renovated | 1962/2024 |
| No. Units | 7 | Parking Ratio | 0.83/1,000 SF |
| Price | $1,436,047 CAD |
| Price Per Unit | $205,150 CAD |
| Sale Type | Investment |
| Cap Rate | 5.86% |
| Gross Rent Multiplier | 10.72 |
| No. Units | 7 |
| Property Type | Multifamily |
| Building Size | 4,805 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1962/2024 |
| Parking Ratio | 0.83/1,000 SF |
Amenities
Unit Amenities
- Cable Ready
- Dishwasher
- Storage Space
- Washer/Dryer
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Yard
- Patio
- Window Coverings
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,418 CAD | 662 |
| 1+1 | 2 | $1,678 CAD | 600 |
| 2+1 | 1 | $1,917 CAD | 756 |
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Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 1-016-056-518228-4-15-14 | Total Assessment | $149,270 CAD |
| Land Assessment | $15,364 CAD | Annual Taxes | $6,299 CAD ($1.31 CAD/SF) |
| Improvements Assessment | $133,906 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
1-016-056-518228-4-15-14
Land Assessment
$15,364 CAD
Improvements Assessment
$133,906 CAD
Total Assessment
$149,270 CAD
Annual Taxes
$6,299 CAD ($1.31 CAD/SF)
Tax Year
2025
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1005 Carlisle Blvd SE - Ridgecrest 7
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