1132 Palomas Drive SE, Albuquerque, NM 87108 (MLS# 1069534) -

1132 Palomas Drive SE, Albuquerque, NM 87108

$880,000

Property Type: Residential Income Lot Size (sq. ft.): 24,394 Status: Closed

Current Price: $880,000 List Date: 8/28/2024 Last Modified: 11/19/2025

Overview

Description

Presenting 1132 Palomas SE, a prime investment opportunity you won’t want to miss! This well-priced 10-unit property offers a great mix of 2-bedroom, 1-bathroom units, each featuring in-unit washer and dryer hookups. Most of the units have been thoughtfully updated, enhancing their appeal and ensuring tenant satisfaction. With an impressive in-place 7% cap rate and a current 6% cash-on-cash return, this property is already delivering strong financial performance. However, there’s significant potential for even more upside. The property is well-positioned for rent growth, with the possibility to increase revenue through strategic updates and enhancements. Whether you’re looking to make targeted improvements or capitalize on the area’s rising demand, 1132 Palomas SE offers great value-add.

Listing Details MLS# 1069534

Status Change Info

Pending Date: 2024-10-28
Closing Date: 2025-05-28

Location

Street #: 1132
Street Name: Palomas
St Suffix: Drive
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 5533
MLS Area Major: 71 – Southeast Heights
Zone Atlas: L18

General Property Description

# of Units: 10
5+ Units: Yes
Property Sub-Type: Multi-Family
Lot Size Source: Broker
Acres: 0.56
Lot SqFt: 24393.6
Directions: google
Stories: Yes
Total # of Buildings: 3
Year Built: 1958
Age: Select One
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X

Cooling

Centrally Ducted: Yes
Evaporative Cooling: Yes

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 10
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 765
Actual Rent: 808
Max Rent: 1150
Market Rent: 1050

Unit Summary

Total Units: 10
Average Unit Size: 765
Average Actual Rent: 808
Annualized: 96960
Total Actual Rent: 8080

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101805610814831601

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: Unknown
Tax Annual Amount: 5875.42

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Ceiling Fan(s): Yes
Enclosed Yard: Yes
Storage: Yes
Walled Complex: Yes
Wshr/Dryr HU in Unit: Yes

Flooring

Laminate: Yes
Tile: Yes
Vinyl: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Sewer: Yes
Trash Removal: Yes
Water: Yes

Tenant Pays

Electric: Yes
Gas: Yes

Build Description

Resale: Yes

Appliances included

Dryer H/U: Yes
Free-Standing Electric Range: Yes
Refrigerator: Yes
Washer H/U: Yes

Utilities

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

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Parking

2+Spaces Per Unit: Yes

Roof

Flat: Yes
TPO (G): Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Call Listing Broker: Yes
Month To Month: Yes
Other – See Remarks: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Ceiling Fan(s); Enclosed Yard; Storage; Walled Complex; Wshr/Dryr HU in Unit Appliances included: Dryer H/U; Free-Standing Electric Range; Refrigerator; Washer H/U Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Laminate; Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Metering: Individual Electric; Individual Gas Owner Pays: Sewer; Trash Removal; Water Tenant Pays: Electric; Gas Parking: 2+Spaces Per Unit Roof: Flat; TPO (G) Rental Info: Call Listing Broker; Month To Month; Other – See Remarks Finance Considered: Cash; Conventional Zoning: R-MH*

Listing Office: R1 Commercial

Last Updated: November – 19 – 2025

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