1024 Alvarado Drive SE Unit APT 6, Albuquerque, NM 87108
- $1,660,470
- 3
- BD
- 3
- BA
- 8,360
- SqFt
- List Price
- $1,660,470
- MLS#
- 1104005
- Property Type
- Multifamily
- Bedrooms
- 3
- Bathrooms
- 3
- Sqft. of Residence
- 8,360
- Lot Size
- 13,504
- Region
- Southeast Heights
- Status
- ACTIVE
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.
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Additional Information
- County
- Bernalillo
- Subdivison
- Virginia Place Addition
- Acres
- 0.31
- Appliances
- Dishwasher, Free-Standing Gas Range, Refrigerator
- Cooling
- Evaporative Cooling
- Flooring
- Vinyl
- Heating
- Wall Furnace
- Owner Pays
- Sewer, Trash Collection, Water
- Utilities
- Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Zoning
- R-MH*
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Listing courtesy of Luke Scarpa from NAI SunVista Commercial RE
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