1024 Alvarado Drive #APT 6
Albuquerque, NM 87108
3
Bed
3
Bath
8,360Sqft
0.31Acre(Lot)
*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.
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 3Bathroom Information
Total Baths: 3 -
Flooring Information
Vinyl -
Interior Features
Appliances: Dishwasher, Free-Standing Gas Range, Refrigerator Laundry Features: Common Area -
Heating & Cooling
Has Heating: Yes Heating: Wall Furnace Has Cooling: Yes Cooling: Evaporative Cooling
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Building Information
Year Built: 1955 Building Area Total: 8360 Stories: 2 Private Pool: No
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Lot Information
Lot Size Acres: 0.31 Lot Size Source: Public Records Lot Size Square Feet: 13504Property Information
Subdivision: Virginia Place Addition Source Property Type: Residential Income Postal Code Plus 4: 5537 Zoning Description: R-MH* Property SubType: Multi Family Levels: Two Property Age: 71
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Listing Price Information
Listing Price: $1660470 Cash, Conventional, Owner May Carry
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Tax Information
Parcel Number: 101805614016331713 Annual Tax: $5300
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Utility Information
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected -
Location Information
Direction: 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.
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 1024 Alvarado Drive #APT 6
Nearby For Sale
The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than ByOwner, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 Southwest Multiple Listing Service. All Rights Reserved.
ByOwner last updated this listing 06/16/2026 @ 23:29
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