About 1008 Alvarado Drive Se
*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.
Features of 1008 Alvarado Drive Se
| MLS® # | 1104004 |
|---|---|
| Price | $1,739,530 |
| Original Price | $1,739,530 |
| Price Per Sq.Ft. | $285.64 |
| Bedrooms | 1 |
| Bathrooms | 2.00 |
| Square Footage | 6,090 |
| Acres | 0.56 |
| Year Built | 1972 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
| Is Green | No |
| Guest House | No |
Community Information
| Address | 1008 Alvarado Drive Se |
|---|---|
| Area | 71 - Southeast Heights |
| Subdivision | Virginia Place Add |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87108 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Features | Laundry Facilities |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Tile, Vinyl |
|---|---|
| Appliances | Free-Standing Gas Range, Refrigerator |
| Heating | Wall Furnace |
| Cooling | Refrigerated |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Exterior Features | Landscaping |
|---|---|
| Builder | N/A |
Additional Information
| Date Listed | May 21st, 2026 |
|---|---|
| Days on Market | 112 |
| RE / Bank Owned | No |
| Finance Considered | Cash, Conventional, Owner May Carry |
| Current Taxes | $7,641 |
Listing Details
| Office | NAI SunVista Commercial RE |
|---|