$1,660,470

$199/sqftactive

1024 Alvarado Drive SE APT 6, Albuquerque, NM 87108

0 days on market

Beds

Baths

Sqft

8,360

Lot

13,504 sqft

Built

1955

Type

multi family

About This Property

*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.

Features & Amenities

Dishwasher

Free Standing Gas Range

Refrigerator

Vinyl Flooring

Subdivision: Virginia Place Addition

Property Details

MLS #	1104005
Property Type	multi family
Year Built	1955
Heating	WallFurnace
Cooling	EvaporativeCooling
Lot Size	13,504 sqft
Property Tax (est.)	$5,300/yr ($442/mo)
Price / Sqft	$199
Status	Active
Days on Market	0

About Nob Hill → Full Guide

Price vs. Neighborhood

This home

$1,660,470

Nob Hill median

$395,000

320% above the Nob Hill median. Homes here sell in an average of 28 days.

Commute Times

Unm

5 min

Downtown

10 min

Abq Studios

20 min

Sandia Labs

20 min

Kirtland Afb

15 min

Presbyterian

12 min

Intel Rio Rancho

35 min

Nearby Schools

Monte Vista Elementary

K-5 · APS

6/10

Jefferson Middle School

6-8 · APS

5/10

Highland High School

9-12 · APS

5/10

UNM (University of New Mexico)

Higher Ed · State

Neighborhood Guide

Explore Nob Hill

Eclectic & Walkable

Listing courtesy of NAI SunVista Commercial RE. © 2026 Southwest Multiple Listing Service, Inc. All rights reserved. Listing data provided by SWMLS IDX. Information deemed reliable but not guaranteed. Equal Housing Opportunity.