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1008 Alvarado Drive SE
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1008 Alvarado Drive SE
1008 Alvarado Drive SE
1008 Alvarado Drive SE
1008 Alvarado Drive SE
1008 Alvarado Drive SE
1008 Alvarado Drive SE
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1008 Alvarado Drive SE

Albuquerque, NM 87108

$1,739,530
1 bd • 2 ba • 6,090 sqft • 0.56 acres
2 Story
Stories
$286
Per SQFT
1972
Year Built
05/21/2026
Listing Date
1104004
Listing #
87108
Zip Code

About This Property

*Property is being sold as a package with 1024 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.

Interior

Bathrooms Total: 2
Appliances: Free-Standing Gas Range, Refrigerator
Flooring: Tile, Vinyl

Building And Construction

Property Type: Residential Income
Property Sub Type: Multi Family
Property Sub Type Additional: Multi Family
Building Area Total: 6,090 sqft
Year Built: 1972
Levels: Two
Number Of Units Total: 22
Stories: 2
Property Condition: Resale

Exterior And Lot

Lot Size Acres: 0.56
Lot Size Square Feet: 24,306 sqft
Exterior Features: Landscaping

Provisional

MLS #: 1104004
Listing Terms: Cash, Conventional, Owner May Carry
Number Of Buildings: 1
Owner Pays: Sewer, Trash Collection, Water
Tenant Pays: Electricity, Gas
Total Actual Rent: 15310

Area And Schools

Community Features: Laundry Facilities
City: Albuquerque
Postal Code: 87108
MLS Area Major: Southeast Heights
Subdivision: Virginia Place Add
County: Bernalillo
Parcel Number: 101805614017631710

Utilities

Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Cooling: Refrigerated
Heating: Wall Furnace
Heating (Y/N): Yes

Location

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Directions: From Gibson Blvd., head North on Alvarado Dr. to the property located 2 blocks down on the right (East side of the street). Located between San Mateo and San Pedro.

Mortgage Calculator

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** All calculations are estimates and provided for informational purposes only. Actual amounts may vary.

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Listing courtesy of NAI SunVista Commercial RE
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