BEDS3
BATHS
SQUARE FEET8,360
MLS#1104005
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONVirginia Place Addition
Property Description
*Property is being sold as a package with 1008 Alvarado Dr. SE* Offered at $3,400,000 ($79,070/unit), this 43-unit multifamily investment presents a compelling value-add opportunity with a 5.89% acquisition cap rate and a projected 6.42% pro forma cap rate. The property was 100% occupied as of March 2026 and features in-place rents estimated to be approximately 14% below market, providing meaningful revenue upside. Recent interior renovations have been completed throughout the majority of units, reducing near-term capital needs. Located within Albuquerque's established Southeast submarket, the property benefits from proximity to Kirtland Air Force Base, major employment centers, and convenient I-25 access. Seller financing is available.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Evaporative Cooling
Heating: Wall Furnace
Lot Size: 0.31 Acres
Stories: 2.0
Taxes: $5,300
Year Built: 1955
Feature Descriptions
Appliances: Dishwasher, Free-Standing Gas Range, Refrigerator
Community Features: Laundry Facilities
Flooring: Vinyl
Parcel#: 101805614016331713
Units: 21
Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Listed By / Shown By
Listed By
Agency Name: NAI SunVista Commercial RE
Agency Phone: (505) 878-0001
Shown By
Agent Name: Vanessa Smith
Agent Phone: (505) 240-0935
Agency Title: Coldwell Banker Legacy
Estimate Your Payment
Estimated Payment
$ 4,621.46 per month $3,695.49 Principal & Interest $441.67 Property Tax $484.30 Homeowner's InsuranceChange Payment Information
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1024 Alvarado Drive Se, Unit APT 6 | MLS# 1104005
This multi-family property located at 1024 Alvarado Drive Se, Unit APT 6, Albuquerque, NM 87108 is currently listed for sale with an asking price of $1,660,470. Search Albuquerque real estate on vsmith.cblegacy.com today.