About 511 Spruce Street Se
Offered at $850,000 ($141,666/unit) with an attractive 7.28% acquisition cap rate, 511 Spruce St SE presents a rare opportunity to acquire a fully stabilized multifamily asset with proven in-place cash flow. The property is 100% occupied and features four fully furnished units, with five of the six units having undergone extensive renovations including new roofs, heating and cooling systems, exterior paint and stucco, appliances, flooring, and interior paint. A diverse unit mix supports broad tenant demand, while its long history of strong occupancy as furnished rentals is complemented by an exceptional location near UNM, Presbyterian Hospital, CNM, Kirtland Air Force Base, and Downtown Albuquerque.
Features of 511 Spruce Street Se
| MLS® # | 1105527 |
|---|---|
| Price | $850,000 |
| Original Price | $850,000 |
| Price Per Sq.Ft. | $226.73 |
| Bedrooms | 7 |
| Bathrooms | 6.00 |
| Square Footage | 3,749 |
| Acres | 0.31 |
| Year Built | 1936 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
| Is Green | No |
| Guest House | No |
Community Information
| Address | 511 Spruce Street Se |
|---|---|
| Area | 42 - UNM South |
| Subdivision | Terrace Add |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87106 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Tile, Vinyl |
|---|---|
| Appliances | Dishwasher, Free-Standing Gas Range, Microwave, Refrigerator |
| Heating | Ductless |
| Cooling | Ductless, Evaporative Cooling |
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Exterior
| Builder | N/A |
|---|
Additional Information
| Date Listed | June 15th, 2026 |
|---|---|
| Days on Market | 81 |
| RE / Bank Owned | No |
| Finance Considered | Cash, Conventional |
| Current Taxes | $3,169 |
Listing Details
| Office | NAI SunVista Commercial RE |
|---|