1008 Alvarado Drive
Albuquerque, NM 87108
1
Bed
2
Bath
6,090Sqft
0.56Acre(Lot)
*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.
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 1Bathroom Information
Total Baths: 2 -
Flooring Information
Tile, Vinyl -
Interior Features
Appliances: Free-Standing Gas Range, Refrigerator Laundry Features: Common Area -
Heating & Cooling
Has Heating: Yes Heating: Wall Furnace Has Cooling: Yes
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Building Information
Year Built: 1972 Building Area Total: 6090 Stories: 2 Private Pool: No
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Lot Information
Lot Size Acres: 0.56 Lot Size Source: Public Records Lot Size Square Feet: 24306 Lot Description: LandscapedProperty Information
Subdivision: Virginia Place Add Source Property Type: Residential Income Postal Code Plus 4: 4751 Zoning Description: R-MH* Property SubType: Multi Family Levels: Two Property Age: 54
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Listing Price Information
Listing Price: $1739530 Cash, Conventional, Owner May Carry
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Tax Information
Parcel Number: 101805614017631710 Annual Tax: $7640.68
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Utility Information
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected -
Location Information
Direction: 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.
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 8600 Zuni Road, Albuquerque, NM, 87108 | $1,793,434 | 3 | 2 | 16,020 | 16,020 SqFt |
| 234 Texas Street, Albuquerque, NM, 87108 | $109,900 | 1 | 1 | 1,100 | 1,100 SqFt |
| 209 Texas Street, Albuquerque, NM, 87108 | $375,000 | 7 | 4 | 2,650 | 2,650 SqFt |
| 325 Tennessee Street, Albuquerque, NM, 87108 | $299,900 | 6 | 3 | 2,304 | 2,304 SqFt |
| 240 San Pablo Street, Albuquerque, NM, 87108 | $324,655 | 5 | 4 | 2,760 | 2,760 SqFt |
| 501-505 Mesilla Street, Albuquerque, NM, 87108 | $560,000 | 10 | 6 | -- | |
| 633 Grove Street, Albuquerque, NM, 87108 | $250,000 | 2 | 2 | -- | |
| 205 Mesilla Street, Albuquerque, NM, 87108 | $350,000 | 4 | 4 | 2,800 | 2,800 SqFt |
| 501 Mesilla Street, Albuquerque, NM, 87108 | $280,000 | 4 | 3 | -- | |
| 505 Mesilla Street, Albuquerque, NM, 87108 | $280,000 | 6 | 3 | -- |
Similar Multifamily To 1008 Alvarado Drive
Nearby For Sale
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ByOwner last updated this listing 06/17/2026 @ 01:30
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