Esperanza homes for sale in Albuquerque, NM

821 Ortiz Drive SE, Albuquerque

Opportunity knocks at this established Southeast Albuquerque property with solid fundamentals and plenty of potential. Whether you're looking for your next renovation project, an investment property, or a home to make your own, this one offers a strong starting point.Major improvements already include a newer TPO roof system and newer furnace, allowing you to focus your time and resources on bringing your vision to life. Originally configured as a duplex with a two-bedroom/one-bath unit and a one-bedroom/one-bath unit, the property offers the potential to explore a return to its previous layout, subject to buyer verification and any required approvals.Outside, you'll find a large fenced backyard along with an oversized detached one-car garage featuring a dedicated workshop area--ideal for projects, storage, or hobbies.Conveniently located near shopping, restaurants, schools, and everyday amenities, the property sits in an established neighborhood anchored by a fire station and church. A newly constructed multi-unit development next door also highlights the area's continued investment and future potential.Whether you're searching for your next rental, renovation, or value-add opportunity, this property offers plenty of possibilities for the right buyer.

805 Ortiz Drive SE, Albuquerque

Turnkey 4-plex with major upgrades and strong income potential. Property consists of three remodeled 1BR/1BA units and one larger 2BR/1BA unit. Renovated units feature new kitchen cabinets and countertops, updated bath surrounds and vanities, new water heaters, wall heater units, and many new windows. Refinished hardwood floors, fresh paint, and updated lighting throughout. Current rents in place with opportunity for additional income growth. The 2BR unit is not yet updated and offers future upside potential. Ideal for investors seeking a low-maintenance property with a blend of stability and value-add opportunity.

808 Ortiz Drive SE, Albuquerque

Metrics of investment performance at the ask price of $1,424,506 include a price per sf of $129, a price per unit of $118,709, and with current rents at $1,134 per month, it generates a GRM of 8.73, a cap rate after reserves of 6.86% and an after tax IRR of 15.10%.804 & 808 Ortiz SE both feature two-story town home style apartments, which are separately metered for gas and electric and come with bonus, updated detached storage closets. All apartments offer pragmatic floor plans that are significantly larger than other 2 bedrooms in the submarket. Downstairs, residents enjoy spacious, multi-functional living areas, galley kitchens with all appliances (including dishwashers), separate utility rooms with full size washer / dryers, and private backyards & patio spaces. Upstairs, residents enjoy two bright private bedrooms, a full bath, and additional quality storage and built-in storage options. Secured access courtyard provides lots of additional, secured landscaped outdoor space for residents to enjoy. Many of the apartments have been completely renovated as well - with new appliances, new luxury vinyl plank & tile flooring, with new fixtures and finishes throughout. Meanwhile, 812 Ortiz offers an amazing and unique opportunity to own a true mission style hacienda-style compound. Tremendous value add opportunities abound with two 3 bed / 1.5 bath, 2-story floor plans and two 2 bed / 1 bath 2 story floor plans all spilling over into a gorgeous plaza style, shady courtyard oasis surrounded by balconies and patio spaces. This property also features secured, gated entry with lots of common and private outdoor spaces alike for year-round outdoor living opportunities. Apartments are also separately metered for gas and electric and offer separate utility rooms for full size washer/ dryers & and storage, with lots of unique custom features and updates throughout. This fourplex has also undergone significant interior and exterior upgrades. Some apartments have been fully updated and some have been partially updated and have much longer-term residents.Located on a vastly improved block with quick and easy access to parks, shopping, Nob Hill, I-40, Kirtland Air Force Base, and the new Albuquerque Community Services HeadquartersThis unique 12-unit compound is the rare offering of flexible, multi-generational living opportunities, a solid income generating community with further value add potential, and quality secure, townhome style housing in an improving neighborhood.

705 Palomas Drive SE, Albuquerque

Welcome home to this gem in the heart of Albuquerque! A perfect mix of classic and modern touches, this home has tons of upgrades including;newer paint, flooring, countertops, cabinets, appliances, and ceiling fans 24/25. Newer roof 2020, newer windows and sewer line 2021, newer garage door and motor 2025. While beautiful hardwood floors, texture, and original built in spaces keep it classic. Backyard offers tons of space, shade with established trees, perfect for gardens or bbqs, or making your own serene outdoors space. All under $250k!! Book your showing today, because this won't last long!

538 Ortiz Drive SE, Albuquerque

Strong investment opportunity in a desirable rental corridor just a 10-minute drive to UNM and Nob Hill. This property features 2-bedroom, 1-bathroom units that are individually metered for gas and electric, helping support efficient tenant utility management. The property shares a courtyard with 540 Ortiz (MLS# 1106771), creating potential for a combined acquisition and stronger portfolio presence. The seller prefers to sell both properties together. Please do not disturb tenants. Showings are subject to an accepted offer.

540 Ortiz Drive SE, Albuquerque

Strong investment opportunity in a desirable rental corridor just a 10-minute drive to UNM and Nob Hill. This property features 2-bedroom, 1-bathroom units that are individually metered for gas and electric, helping support efficient tenant utility management. The property shares a courtyard with 538 Ortiz (MLS# 1106770) , creating potential for a combined acquisition and stronger portfolio presence. The seller prefers to sell both properties together. Please do not disturb tenants. Showings are subject to an accepted offer.

536 Palomas Drive SE, Albuquerque

Excellent investment opportunity! This well-maintained 4-plex at 536 Palomas Dr SE generates $3,900/month in gross rental income. Unit mix includes four 2 bed/1 bath units. Features include off-street parking, private enclosed courtyards, newer windows, and newer stucco. A turnkey addition to any investment portfolio with strong cash flow.532 Palomas Dr SE is also for sale and can be bought together.

532 Palomas Drive SE, Albuquerque

Excellent investment opportunity! This well-maintained 4-plex at 536 Palomas Dr SE generates $3,214 /month in gross rental income. Unit mix includes four 2 bed/1 bath units. Features include off-street parking, private enclosed courtyards, newer windows, and newer stucco. A turnkey addition to any investment portfolio with strong cash flow.

5009 Palo Alto Avenue SE, Albuquerque

Welcome to 5009 Palo Alto Avenue SE, a charming, one-of-a-kind home in Parkland Hills. This 3-bed, 2-bath residence (1,842 sq ft; built 1955) is located in one of Albuquerque's most diverse and established neighborhoods. Ideally located with quick access to Nob Hill, Kirtland AFB, local hospitals, premier shopping, and dining! It blends timeless character with thoughtful updates. Interior highlights include two spacious living areas, rich hardwood floors complemented by tile and luxury vinyl plank, ceiling fans throughout, and a bright, skylit kitchen perfect for everyday living and entertaining. The private primary suite is offset from the secondary bedrooms and features a generous walk-in closet. Outside, enjoy a large, secure backyard shaded by mature trees and lush landscaping.

528 Alvarado Drive SE, Albuquerque

Attention investors! This Southeast Heights 4-plex is a fantastic opportunity to expand your investment portfolio. The property features four fully occupied 2-bedroom, 1-bath units, each with its own individual utility meter. Conveniently located near shopping, dining, and everyday amenities, this income-producing property offers strong rental appeal in a desirable location.

533 Valencia Drive SE, Albuquerque

This well-maintained, charming courtyard-style triplex offers a unique combination of residential character, walkability and investment upside. Mature landscaping, brick walkways and an inviting shared colonnade courtyard give the property a warm residential feel, while off-street parking and private patio space add convenience and privacy.Solatube tubular skylights bring abundant natural light into the residences, creating bright and welcoming interiors. The property also offers dedicated buried tool and storage areas, providing additional secure storage for owner use.The owner has made a number of recent improvements, including a new roof in 2022, new driveways and sidewalks in 2024, and interior renovations.Apartment 533 #6 has been fully renovated and includes a dedicated laundry room with a built-in clothing rack. Additional units offer varying laundry amenities, including washer and washer/dryer hookups.From an investment perspective, there is meaningful room for continued income growth. Current rents average approximately $825, compared with projected market rents of approximately $975, providing an opportunity to increase revenue as rents move toward market.With a start price of $331,592, the property currently offers an 11.16 GRM and 6.11% cap rate, with additional upside as rents are brought closer to market.The owner also owns the adjoining property at 537 Valencia SE, creating an opportunity for a buyer interested in expanding their investment beyond this triplex.Residents are within walking distance of parks, restaurants and retail while enjoying the character and privacy of an established neighborhood.This is the type of property that feels more like housing than apartments--a quality many residents value and one that helps distinguish it from more traditional multifamily properties.Don't miss this opportunity to acquire a distinctive Albuquerque triplex with existing income, recent capital improvements and a clear path for future rent growth.

525 Valencia Drive SE, Albuquerque

TRI-PLEX Building, Roof and Property are all in good condition.*** PLEASE DO NOT DISTURB OR TALK WITH TENANTS*** Thank you! *** Total Units is 3; All Units have 2 bedrooms and 1 bath with a small storage. Each Unit also has 1 parking space and a front yard area. Back door has a 5x12 feet area.