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1024 Alvarado Drive SE APT 6
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1024 Alvarado Drive SE APT 6
1024 Alvarado Drive SE APT 6
1024 Alvarado Drive SE APT 6
1024 Alvarado Drive SE APT 6
1024 Alvarado Drive SE APT 6
1024 Alvarado Drive SE APT 6
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1024 Alvarado Drive SE APT 6

Albuquerque, NM 87108

$1,660,470
3 bd • 3 ba • 8,360 sqft • 0.31 acres
2 Story
Stories
$199
Per SQFT
1955
Year Built
05/21/2026
Listing Date
1104005
Listing #
87108
Zip Code

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.

Interior

Bathrooms Total: 3
Appliances: Dishwasher, Free-Standing Gas Range, Refrigerator
Flooring: Vinyl

Building And Construction

Property Type: Residential Income
Property Sub Type: Multi Family
Property Sub Type Additional: Multi Family
Building Area Total: 8,360 sqft
Year Built: 1955
Levels: Two
Number Of Units Total: 21
Stories: 2
Property Condition: Resale

Exterior And Lot

Lot Size Acres: 0.31
Lot Size Square Feet: 13,504 sqft

Provisional

MLS #: 1104005
Listing Terms: Cash, Conventional, Owner May Carry
Number Of Buildings: 1
Owner Pays: Sewer, Trash Collection, Water
Tenant Pays: Electricity, Gas
Total Actual Rent: 14629

Area And Schools

Community Features: Laundry Facilities
City: Albuquerque
Postal Code: 87108
MLS Area Major: Southeast Heights
County: Bernalillo
Parcel Number: 101805614016331713

Utilities

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

Location

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Directions: From I-40, take the San Mateo Exit and go South for about 2.8 miles. Turn left on Ross Ave, go 4 blocks, then turn right on Alvarado. Property is on the left.

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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