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
Days on Site: 2
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
Agency Title: Coldwell Banker Legacy
Agency Phone: (505) 828-1000
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
Top REALTORS® in this Area
Casey Landis
From our very first call, Casey Landis impressed us with his in- depth market knowledge and sincere interest in our family's unique needs and timeline. At our first meeting, he presented a thorough market analysis and a well-crafted strategy that clearly stood out from other agents. Relocating across the country complicated our situation, but Casey went above and beyond by managing details, connecting us with trusted resources, and ensuring our home stayed show-ready and secure. His steady communication, expert guidance, and dedication helped ease our stress and resulted in a successful sale that met all our goals. We wholeheartedly recommend Casey to anyone seeking a knowledgeable,
trustworthy, and committed realtor.
— Gregory Howell
— Gregory Howell
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 www.cblegacy.com today.