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1209 Dr Martin Luther King Jr Ave NE 10 Unit Apartment Building $1,661,373 CAD ($166,137 CAD/Unit) 6.26% Cap Rate Albuquerque, NM 87106
Investment Highlights
- 770 SF Spacious 1 Bedroom Apartments
- Carport Parking
- Bonus Secured Storage
- Recent Updates include: Thermal Windows, TPO Roof, & Updated Electrical
Executive Summary
Mid Century Modern character abounds in this unique UNM area 10-Plex. The largest 1 Bedroom Apartments in the submarket boast original hardwood floors, tons of built-ins, and big updated vinyl windows. Residents at 1209 MLK JR NE get a whole lot more space for flexibility and multi-functionality. Living / Dining Room is giant with coved ceilings and great natural light. The bedrooms and closets are also large, with enough room for multiple uses. Apartments are separately metered for gas and electric. Electric Service was just upgraded to give the next owner a jump start on future improvements. Properly Updated Building features secured common areas and carport parking. Just 4 Blocks to UNM and 3 Blocks to EDO.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,661,373 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $166,137 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.30 AC |
| Cap Rate | 6.26% | Building Size | 8,451 SF |
| Gross Rent Multiplier | 10.09 | Average Occupancy | 100% |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1954/2025 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Zoning | R-T | ||
| Price | $1,661,373 CAD |
| Price Per Unit | $166,137 CAD |
| Sale Type | Investment |
| Cap Rate | 6.26% |
| Gross Rent Multiplier | 10.09 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.30 AC |
| Building Size | 8,451 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1954/2025 |
| Parking Ratio | 1.18/1,000 SF |
| Zoning | R-T |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Storage Space
- Ceiling Fans
- Tile Floors
- Tub/Shower
- Double Pane Windows
- Smoke Free
- Window Coverings
Site Amenities
- 24 Hour Access
- Gas Range
- Smoke Free
- Vintage Building
- Storage Space
- Private Bathroom
- Walk To Campus
- Walk-Up
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | $1,460 CAD | 770 |
1 1
Very walkable
80/100
Moderately drivable
70/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 1-015-057-225430-2-35-01 | Total Assessment | $165,499 CAD |
| Land Assessment | $45,097 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $120,402 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
1-015-057-225430-2-35-01
Land Assessment
$45,097 CAD
Improvements Assessment
$120,402 CAD
Total Assessment
$165,499 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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1209 Dr Martin Luther King Jr Ave NE
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