Albuquerque Homes Online
Albuquerque Homes Online

Menu

Home / Albuquerque / UNM South / MLS #1087551
1601-1617 Gold Avenue SE 48 - Main Image
12 Photos
View Map

1601-1617 Gold Avenue SE 48

Albuquerque, NM 87106

$3,250,000
18,511 sqft • 0.8 acres
$176
Per SQFT
07/09/2025
Listing Date
1087551
Listing #
87106
Zip Code
Bernalillo
County

About This Property

Terrace Gardens Apartments is a 48-unit multifamily asset located just blocks from the University of New Mexico in Albuquerque's highly sought-after student housing corridor. Comprising 36 studios, 8 one-bedroom one bathroom, 2 two-bedrooms, one bathroom, and 1 three-bedroom one bathroom units, the property spans four contiguous lots totaling +/-35,000 SF with 18,511 SF of rentable area.With current average rents at $710.00/unit and 77% occupancy, this property presents significant upside. The UNM submarket boasts average studio rents of $860 and one-bedrooms at $1,168, highlighting a clear opportunity for rental growth. A 2026 pro forma projects a stabilized cap rate of 7.71% and GRM of 8.27, with a net operating income of $262,925.

Building And Construction

Property Type: Commercial Sale
Building Area Total: 18,511 sqft
Construction Materials: Block, Frame, Stucco

Exterior And Lot

Lot Size Acres: 0.8
Lot Size Square Feet: 35,000 sqft
Parking Total: 40

Provisional

MLS #: 1087551
Leasable Area: 80 sqft
Lease Term: 12 Months
Listing Terms: Cash

Area And Schools

City: Albuquerque
Postal Code: 87106
MLS Area Major: UNM South
County: Bernalillo
Road Frontage Type: City Street
Road Surface Type: Paved
Parcel Number: More than one

Utilities

Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Available, Water Connected
Cooling: Evaporative Cooling
Heating: Floor Furnace, Radiant Floor, Wall Furnace
Heating (Y/N): Yes
Water Source: Community/Coop

Location

Directions: One block south from the corner of University and gold

Mortgage Calculator

$
$
%
Monthly Payment:

New Homes for Sale in Albuquerque Area

View All
1820 LEE Loop NE, Rio Rancho

$263,000

2 bds • 2 ba • 1,042 sqft

1820 LEE Loop NE, Rio Rancho, 87144
1011 CLAUDINE Street NE, Albuquerque

$333,000

3 bds • 2 ba • 1,858 sqft

1011 CLAUDINE Street NE, Albuquerque, 87112
1515 BORREGO Drive SE, Albuquerque

$325,000

3 bds • 3 ba • 1,647 sqft

1515 BORREGO Drive SE, Albuquerque, 87123
3026 ALISO Drive NE, Albuquerque

$330,000

4 bds • 2 ba • 2,375 sqft

3026 ALISO Drive NE, Albuquerque, 87110
11600 SNOWHEIGHTS Boulevard NE, Albuquerque

$325,000

3 bds • 2 ba • 1,308 sqft

11600 SNOWHEIGHTS Boulevard NE, Albuquerque, 87112
511 Eugene Court Court SE, Albuquerque

$549,000

4 bds • 3 ba • 2,650 sqft

511 Eugene Court Court SE, Albuquerque, 87123
01 Goodhart Road, Los Lunas

$399,900

3 bds • 3 ba • 1,843 sqft

01 Goodhart Road, Los Lunas, 87031
11812 Arroyo De Vista NE, Albuquerque

$405,000

3 bds • 2 ba • 1,807 sqft

11812 Arroyo De Vista NE, Albuquerque, 87111
Listing courtesy of Berger Briggs RE & Prop Mgmt
Southwest MLS Logo Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Daria Derebera Realtor

Daria Derebera

Real Estate Broker in Albuquerque, NM

(505) 521 8550

Agent Contact Request Sent

Thank you for contacting us. An agent will reach out to you as soon as possible.

Showing Request Submitted

Thank you for scheduling a showing. We'll confirm the details with you shortly.

Schedule a Showing

Information Request Submitted

Thank you for your interest. We'll get back to you shortly.

Request Information