1008 Alvarado Drive SE, Albuquerque, NM 87108 (MLS# 1104004) -

1008 Alvarado Drive SE, Albuquerque, NM 87108

$1,739,530

Property Type: Residential Income Square Footage: 6,090 Lot Size (sq. ft.): 24,306 Status: Active

Current Price: $1,739,530 List Date: 5/21/2026 Last Modified: 6/12/2026

Overview

Description

*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.

Listing Details MLS# 1104004

Contract Information

List Price/SqFt: 285.64

Location

Street #: 1008
Street Name: Alvarado
St Suffix: Drive
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 4751
MLS Area Major: 71 – Southeast Heights
Zone Atlas: L18

CityCounty Data

Subdivision Name: Virginia Place Add

General Property Description

# of Units: 22
5+ Units: Yes
Property Sub-Type: Multi-Family
Living Area: 6090
Lot Size Source: On-Line
Acres: 0.56
Lot SqFt: 24306
Directions: 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.
Stories: 2
Total # of Buildings: Yes
Year Built: 1972
Age: Select One
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: Yes
Builder: N/A
Owner Occupant Unit: No
Flood Zone: X

Cooling

Centrally Ducted: No
Refrigerated: Yes

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 8
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 560
Actual Rent: 729
Max Rent: 788
Market Rent: 788

# of Unit Types (2)

# of Units: 14
# Baths: Yes
Approx. SqFt: 434
Actual Rent: 677
Max Rent: 750
Market Rent: 750

Unit Summary

Total Units: 22
Average Unit Size: 479.81
Average Actual Rent: 695.9
Annualized: 183720
Total Actual Rent: 15310

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101805614017631710

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 7640.68

Amenities

Laundry Community: Yes
Some Landscaping: Yes

Flooring

Tile: Yes
Vinyl: Yes

Heating

Wall Unit: Yes

Owner Pays

Sewer: Yes
Trash Removal: Yes
Water: Yes

Showing Requirements

Call Listing Agent: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Build Description

Resale: Yes

Appliances included

Free-Standing Gas Range: Yes
Refrigerator: Yes

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Finance Considered

Cash: Yes
Conventional: Yes
Owner Financing: Yes

Rental Info

Yearly Lease: Yes

Zoning

R-MH*: Yes

Property Features

Build Description: Resale Amenities: Laundry Community; Some Landscaping Appliances included: Free-Standing Gas Range; Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Wall Unit Cooling: Refrigerated Flooring: Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Owner Pays: Sewer; Trash Removal; Water Tenant Pays: Electric; Gas Rental Info: Yearly Lease Finance Considered: Cash; Conventional; Owner Financing Showing Requirements: Call Listing Agent Zoning: R-MH*

Documents

1008 & 1024 Alvarado Flyer & APOD ›

Lead Based Paint ›

Tax Levy Disclosure ›

Listing Office: NAI SunVista Commercial RE

Last Updated: June – 12 – 2026

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