508 Indiana Street
Albuquerque, NM 87108
8
Bed
4
Bath
3,267Sqft
0.19Acre(Lot)
This four-unit apartment building offers a strong investment opportunity with a 9.48% cap rate at full asking price. The property features three residential 2 bed, 1 bath units, and one residential 3 bed, 1 bath unit. Most tenants are supported by subsidized housing programs, providing stable and consistent rental income. Utilities are currently included in the rent with those tenants; however, the building is equipped with individual gas and electric meters, offering future ownership the option to separate utilities. The roof was replaced in December of 2025. Located in an established rental area surrounded by other multifamily properties. Ideal for investors seeking the potential of immediate cash flow.
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
-
Bedroom Information
Total beds: 8Bathroom Information
Total Baths: 4 -
Flooring Information
See Remarks -
Interior Features
Appliances: Refrigerator -
Heating & Cooling
Has Heating: Yes Heating: Central Cooling: None
-
Building Information
Year Built: 1963 Building Area Total: 3267 Stories: 1 Private Pool: No
-
Lot Information
Lot Size Acres: 0.19 Lot Size Source: Public Records Lot Size Square Feet: 8102Property Information
Subdivision: Park Add Source Property Type: Residential Income Postal Code Plus 4: 4463 Zoning Description: R-MH* Property SubType: Multi Family Levels: One Property Age: 63
-
Listing Price Information
Listing Price: $390000 Cash, FHA, VA Loan
-
Tax Information
Parcel Number: 101805646844412213 Annual Tax: $1817.52
-
Utility Information
Natural Gas Available, Electricity Connected, Natural Gas Connected, Water Connected -
Location Information
Direction: From I-40, exit at Louisiana Boulevard and head south. Turn left on Central Avenue, then right on Indiana Street SE. Continue south to 508 Indiana Street SE.
How much is this property worth?
Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.
Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 217 General Stilwell St.., Albuquerque, NM, 87108 | $425,155 | 7 | 4 | 3,200 | 0.17 Acre |
| 411 Virginia Street, Albuquerque, NM, 87108 | $315,000 | 4 | 2 | 2,153 | 0.16 Acre |
| 8600 Zuni Road, Albuquerque, NM, 87108 | $1,594,615 | 3 | 2 | 16,020 | 1 Acre |
| 415 Virginia Street, Albuquerque, NM, 87108 | $315,000 | 6 | 3 | 2,153 | 0.16 Acre |
| 211 Texas Street, Albuquerque, NM, 87108 | $349,900 | 6 | 4 | 2,500 | 0.16 Acre |
| 209 Texas Street, Albuquerque, NM, 87108 | $349,900 | 7 | 4 | 2,650 | 0.16 Acre |
| 325 Tennessee Street, Albuquerque, NM, 87108 | $299,900 | 6 | 3 | 2,304 | 0.16 Acre |
| 428 Rhode Island Street, Albuquerque, NM, 87108 | $329,900 | 6 | 3 | 2,250 | 0.14 Acre |
| 513 Utah Street, Albuquerque, NM, 87108 | $215,000 | 2 | 1 | 1,536 | 0.16 Acre |
| 336 Rhode Island Street, Albuquerque, NM, 87108 | $255,000 | 2 | 1 | 2,375 | 0.16 Acre |
Similar Multifamily To 508 Indiana Street
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 09/29/2026 @ 11:36
More Cities with for Sale by Owner Homes
- Albuquerque Homes For Sale By Owner
- Corrales Homes For Sale By Owner
- Rio Rancho Homes For Sale By Owner
- Los Ranchos Homes For Sale By Owner
- Bernalillo Homes For Sale By Owner
- Placitas Homes For Sale By Owner
- Algodones Homes For Sale By Owner
- Cedar Crest Homes For Sale By Owner
- Sandia Park Homes For Sale By Owner
- Bosque Farms Homes For Sale By Owner
- Tijeras Homes For Sale By Owner
- Peralta Homes For Sale By Owner
- Edgewood Homes For Sale By Owner
- Jemez Pueblo Homes For Sale By Owner
- Los Lunas Homes For Sale By Owner
- Cerrillos Homes For Sale By Owner
- Madrid Homes For Sale By Owner
- Pena Blanca Homes For Sale By Owner
- Cochiti Lake Homes For Sale By Owner
- Moriarty Homes For Sale By Owner
Homes around $390,000
Verify Your Email
Please enter the 6-digit verification code
sent to your email address.
Verify Your Phone Number
Please enter the 6-digit verification code
sent to your mobile phone.