3505 Lafayette Drive NE, Albuquerque, NM 87107

$950,000
Property Type: Residential Income Square Footage: 9,100 Lot Size (sq. ft.): 16,374 Status: Active
Current Price: $950,000 List Date: 5/13/2026 Last Modified: 6/23/2026

Overview

Description

At 1300 SF each, all 7 apartments are nicely updated two story two bedroom / one and a half Bathroom townhome style floorplans with well-apportioned rooms, separate large utility rooms (with Washer / Dryer hook ups or washer / dryer included), and giant living areas with woodburning stoves! All kitchens are nicely updated and include dishwashers and electric ranges. All apartments are also separately metered for gas and electric and offer forced central heating. 4 of the 7 apartments have been converted to refrigerated air! Potential upside includes conversion to a condominium community with a large spread between the current price of $135,714 per unit and the average ask price for $242,500 (per SWMLS report 5/12 – 2 bedroom units with 1,200 to 1,400 sf condos without garages.)

Listing Details MLS# 1103496

Contract Information

List Price/SqFt
104.4
Allowance/Concession
No

Location

Street #
3505
Street Name
Lafayette
St Suffix
Drive
Post Direction
NE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87107
Zip +4
4349
MLS Area Major
101 – Near North Valley
Zone Atlas
G16

CityCounty Data

Subdivision Name
Indian Rest Sub

General Property Description

# of Units
7
5+ Units
Yes
Units for Sale
7
Property Sub-Type
Multi-Family
Living Area
9100
SqFt Source
Professional
Lot Size Source
On-Line
Acres
0.38
Lot SqFt
16374
Directions
From I-25 and Comanche, east to Lafayette, south to property.
Stories
2
Total Stories in Bldg
2
Total # of Buildings
2
Year Built
1978
Age
Select One
# Parking Spaces
11
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
No

Sales Info

Trade/Xch Considered
No

More Information

# of Unit Types (1)

# of Units
7
# of Bedrooms
2
# Baths
Yes
Style
Townhouse
Approx. SqFt
1300
Actual Rent
1301
Max Rent
1500
Market Rent
1500

Unit Summary

Total Units
7
Average Unit Size
1300
Average Actual Rent
1301
Annualized
109284
Total Actual Rent
9107

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101606038517540709

Tax & Legal Info

GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
7291

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

No Landscaping
Yes

Flooring

Vinyl
Yes

Heating

Forced Air
Yes

Owner Pays

Other – See Remarks
Yes

Showing Requirements

No Lockbox
Yes

Tenant Pays

Other – See Remarks
Yes

Income & Expenses

Annual Gross Income
102693
Operating Expenses
39659

Build Description

Resale
Yes

Appliances included

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

Miscellaneous Info

No Sign
Yes

Metering

Individual Electric
Yes
Individual Gas
Yes

Parking

1.5 Spaces Per Unit
Yes

Roof

Flat
Yes
Tar Gravel
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Other – See Remarks
Yes

Zoning

R-ML*
Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: No Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Forced Air Flooring: Vinyl Green Energy Generation: None Electric Provider: Public Utility Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas Owner Pays: Other – See Remarks Tenant Pays: Other – See Remarks Parking: 1.5 Spaces Per Unit Roof: Flat; Tar Gravel Rental Info: Other – See Remarks Finance Considered: Cash; Conventional Showing Requirements: No Lockbox Zoning: R-ML*

Documents

Listing Office: NM Apartment Advisors, Inc.
Last Updated: June – 23 – 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.
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