511 Spruce Street
Albuquerque, NM 87106
7
Bed
6
Bath
3,749Sqft
0.31Acre(Lot)
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
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 7Bathroom Information
Total Baths: 6 -
Flooring Information
Tile, Vinyl -
Interior Features
Appliances: Dishwasher, Free-Standing Gas Range, Microwave, Refrigerator Laundry Features: Laundry Room, Washer Hookup, In Unit -
Heating & Cooling
Has Heating: Yes Heating: Ductless Has Cooling: Yes Cooling: Ductless, Evaporative Cooling
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Building Information
Year Built: 1936 Building Area Total: 3749 Stories: 1 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: Terrace Add Source Property Type: Residential Income Postal Code Plus 4: 5226 Zoning Description: R-T* Property SubType: Multi Family Levels: One Property Age: 90
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Listing Price Information
Listing Price: $850000 Cash, Conventional
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Tax Information
Parcel Number: 101505717917630909 Annual Tax: $3168.6
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Utility Information
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected -
Location Information
Direction: 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.
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 1005 Carlisle Boulevard, Albuquerque, NM, 87106 | $527,500 | 2 | 2 | 2,640 | 2,640 SqFt |
| 1003 Carlisle Boulevard, Albuquerque, NM, 87106 | $485,000 | 4 | 3 | 2,156 | 2,156 SqFt |
| 3518 Eastern Avenue, Albuquerque, NM, 87106 | $300,000 | 2 | 2 | 1,282 | 1,282 SqFt |
| 1809 Girard Boulevard, Albuquerque, NM, 87106 | $547,931 | 8 | 15 | 3,100 | 3,100 SqFt |
| 2130 Coal Avenue, Albuquerque, NM, 87106 | $540,000 | 2 | 1 | 2,592 | 2,592 SqFt |
| 2104 Lead Avenue, Albuquerque, NM, 87106 | $619,887 | 1 | 2 | 2,670 | 2,670 SqFt |
| 1612 Gold Avenue, Albuquerque, NM, 87106 | $600,000 | 5 | 5 | 2,564 | 2,564 SqFt |
Similar Multifamily To 511 Spruce Street
Nearby For Sale
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ByOwner last updated this listing 06/16/2026 @ 10:12
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