1030-1040 Truman Street SE, Albuquerque, NM 87108 (MLS# 1094437) -

1030-1040 Truman Street SE, Albuquerque, NM 87108

$1,500,000

Property Type: Residential Income Lot Size (sq. ft.): 25,700 Status: Active

Current Price: $1,500,000 List Date: 11/14/2025 Last Modified: 2/08/2026

Overview

Description

The unit mix offers valuable diversity, with 3 two-bedroom/one-bathroom and 3 one-bedroom/one-bathroom units at 1030 Truman — complete with private garages — and an additional 3 units at 1040 Truman, including one 1-bedroom/1-bathroom and two 2-bedroom/1-bathroom apartments. The buildings are situated on spacious lots with mature landscaping, wrought iron security, and private courtyard areas that enhance curb appeal and resident livability. The projected gross income of $139,200 annually, adjusted for a 5% vacancy to $132,240, with estimated operating expenses of $37,361, yielding a pro forma NOI of $94,879. At the asking price of $1,500,000, the property offers a projected cap rate of 6.33% with a before-tax IRR of 17.41% .

Listing Details MLS# 1094437

Contract Information

Allowance/Concession: No

Location

Street #: 1030-1040
Street Name: Truman
St Suffix: Street
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 1124
MLS Area Major: 42 – UNM South
Zone Atlas: L17

CityCounty Data

Subdivision Name: NA

General Property Description

# of Units: 9
5+ Units: Yes
Units for Sale: 9
Property Sub-Type: Multi-Family
Lot Size Source: On-Line
Acres: 0.59
Lot SqFt: 25700
Directions: At San Mateo and Kathren go west on Kathren to Truman
Stories: Yes
Total Stories in Bldg: Yes
Total # of Buildings: 2
Year Built: 1952
Year Built Details: 1040 built 1968 1430 Built 1952
Year Built Source: Assessor
Year Built Exception: Unknown
Age: Select One
# Parking Spaces: 10
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Two
Flood Zone: X

Cooling

Centrally Ducted: Yes

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 4
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 865
Actual Rent: 950
Max Rent: 1000
Market Rent: 1000

# of Unit Types (2)

# of Units: 5
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 865
Actual Rent: 1500
Max Rent: 1500
Market Rent: 1500

Unit Summary

Total Units: 9
Average Unit Size: 865
Average Actual Rent: 1255.55
Annualized: 135600
Total Actual Rent: 11300

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101705651728310815, 101705651727210816

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 10387

Amenities

Some Landscaping: Yes
Wshr/Dryr HU in Unit: Yes

Flooring

Tile: Yes
Vinyl: Yes
Wood: Yes

Heating

Central: Yes
Floor Furnace: Yes
Forced Air: Yes

Owner Pays

Sewer: Yes
Trash Removal: Yes
Water: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Income & Expenses

Annual Gross Income: 140000
Operating Expenses: 32000

Build Description

Resale: Yes

Appliances included

Built-In Gas Range: Yes
Dryer: Yes
Range Hood: Yes
Refrigerator: Yes
Washer H/U: Yes

Utilities

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

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Metering

Individual Gas: Yes
Master Electric: Yes

Parking

1.5 Spaces Per Unit: Yes
2 or More Garages: Yes

Roof

Flat: Yes

Finance Considered

Cash: Yes
Owner Financing: Yes

Rental Info

Call Listing Broker: Yes

Zoning

R-MH*: Yes

Property Features

Build Description: Resale Amenities: Some Landscaping; Wshr/Dryr HU in Unit Appliances included: Built-In Gas Range; Dryer; Range Hood; Refrigerator; Washer H/U Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected Heating: Central; Floor Furnace; Forced Air Flooring: Tile; Vinyl; Wood Green Energy Generation: None Electric Provider: Public Utility Electric: None Metering: Individual Gas; Master Electric Owner Pays: Sewer; Trash Removal; Water Tenant Pays: Electric; Gas Parking: 1.5 Spaces Per Unit; 2 or More Garages Roof: Flat Rental Info: Call Listing Broker Finance Considered: Cash; Owner Financing Zoning: R-MH*

Documents

Truman_OM ›

Listing Office: Berger Briggs RE & Prop Mgmt

Last Updated: February – 08 – 2026

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.