$797,000
Listed on Aug 14, 2026
5 bds · 6 ba · 3,806 sqft
907 Silver Avenue SW, Albuquerque, 87102
511 Spruce Street SE
Albuquerque, NM 87106
$850,000
$227/SqFt
7
Beds
6
Baths
3,749
SqFt Home
1
Story
1936
Year Built
13,504
SqFt Lot
About this property
Offered at $850,000 ($141,666/unit) with an attractive 7.28% acquisition cap rate, 511 Spruce St SE presents a rare opportunity to acquire a fully stabilized multifamily asset with proven… Show more
Offered at $850,000 ($141,666/unit) with an attractive 7.28% acquisition cap rate, 511 Spruce St SE presents a rare opportunity to acquire a fully stabilized multifamily asset with proven in-place cash flow. The property is 100% occupied and features four fully furnished units, with five of the six units having undergone extensive renovations including new roofs, heating and cooling systems, exterior paint and stucco, appliances, flooring, and interior paint. A diverse unit mix supports broad tenant demand, while its long history of strong occupancy as furnished rentals is complemented by an exceptional location near UNM, Presbyterian Hospital, CNM, Kirtland Air Force Base, and Downtown Albuquerque.
Property details for 511 Spruce Street SE
Interior
Bedrooms Total:
7
Bathrooms Total:
6
Appliances:
Dishwasher, Free-Standing Gas Range, Microwave, Refrigerator
Laundry Features:
Washer Hookup, Dryer Hookup, In Unit
Flooring:
Tile, Vinyl
Exterior and lot
Lot Size Acres:
0.31
Lot Size:
13,504 sqft
Building and construction
Property Type:
Residential Income
Property Sub Type:
Multi Family
Property Sub Type Additional:
Multi Family
Building Area Total:
3,749 sqft
Year Built:
1936
New Construction:
No
Levels:
One
Number Of Units Total:
6
Stories:
1
Property Condition:
Resale
Provisional
MLS #:
1105527
Listing Terms:
Cash, Conventional
Number Of Buildings:
2
Owner Pays:
Electricity, Gas, Sewer, Trash Collection, Water
Total Actual Rent:
8495
Area and schools
City:
Albuquerque
Postal Code:
87106
MLS Area Major:
UNM South
Subdivision:
Terrace Add
County:
Bernalillo
Parcel Number:
101505717917630909
Utilities
Utilities:
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Cooling:
Ductless, Evaporative Cooling
Heating:
Ductless
Heating (Y/N):
Yes
Listing and financial details
Listing Date:
June 15, 2026
Location
Directions: From I-25, take the Avenida Cesar Chavez exit and head east. Turn left (north) on University Blvd SE, then right (east) on Coal Ave SE. Turn left on Spruce St SE; the property is located at 511 Spruce St SE on the west side of the street.
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511 Spruce Street SE Albuquerque, NM 87106 listed as MLS #1105527.
This 7 bedroom 3,749 sqft Multi Family built in 1936
located in Terrace Add, Albuquerque NM 87106.
511 Spruce Street SE is listed for $850,000 as MLS #1105527 courtesy of NAI SunVista Commercial RE Luke Scarpa.
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-commercial use and may not be used for any purpose other than identifying properties
which consumers may be interested in purchasing.
Searches related to 511 Spruce Street SE, Albuquerque, NM 87106
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Estimated Mortgage
$4,298/mo
Based on $170K down · 6.5% · 30yr