BEDS7
BATHS
SQUARE FEET3,749
MLS#1105527
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONTerrace Add
Property Description
Offered at $850,000 ($141,666/unit) with an attractive 7.28% acquisition cap rate, 511 Spruce St SE presents a rare opportunity to acquire a fully stabilized multifamily asset with proven in-place cash flow. The property is 100% occupied and features four fully furnished units, with five of the six units having undergone extensive renovations including new roofs, heating and cooling systems, exterior paint and stucco, appliances, flooring, and interior paint. A diverse unit mix supports broad tenant demand, while its long history of strong occupancy as furnished rentals is complemented by an exceptional location near UNM, Presbyterian Hospital, CNM, Kirtland Air Force Base, and Downtown Albuquerque.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Ductless, Evaporative Cooling
Fenced: Yes
Heating: Ductless
Lot Size: 0.31 Acres
Stories: 1.0
Taxes: $3,168
Year Built: 1936
Feature Descriptions
Appliances: Dishwasher, Free-Standing Gas Range, Microwave, Refrigerator
Days on Site: 2
Flooring: Tile, Vinyl
Laundry: Washer Hookup, Dryer Hookup, In Unit
Parcel#: 101505717917630909
Security: Complex Fenced
Units: 6
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) 892-1000
Estimate Your Payment
Estimated Payment
$ 2,403.65 per month $1,891.73 Principal & Interest $264.00 Property Tax $247.92 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
Ashly Jaramillo
I had an excellent experience working with Ashly. I would recommend her to anyone that is in the process of buying a home.— Martha Edwards
— Martha Edwards
511 Spruce Street Se | MLS# 1105527
This multi-family property located at 511 Spruce Street Se, Albuquerque, NM 87106 is currently listed for sale with an asking price of $850,000. Search Albuquerque real estate on www.cblegacy.com today.