About 508 Indiana Street Se
This four-unit apartment building offers a strong investment opportunity with a 9.48% cap rate at full asking price. The property features three residential 2 bed, 1 bath units, and one residential 3 bed, 1 bath unit. Most tenants are supported by subsidized housing programs, providing stable and consistent rental income. Utilities are currently included in the rent with those tenants; however, the building is equipped with individual gas and electric meters, offering future ownership the option to separate utilities. The roof was replaced in December of 2025. Located in an established rental area surrounded by other multifamily properties. Ideal for investors seeking the potential of immediate cash flow.
Features of 508 Indiana Street Se
| MLS® # | 1107598 |
|---|---|
| Price | $390,000 |
| Original Price | $390,000 |
| Price Per Sq.Ft. | $119.38 |
| Bedrooms | 8 |
| Bathrooms | 4.00 |
| Square Footage | 3,267 |
| Acres | 0.19 |
| Year Built | 1963 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Pending |
| Is Green | No |
| Guest House | No |
Community Information
| Address | 508 Indiana Street Se |
|---|---|
| Area | 71 - Southeast Heights |
| Subdivision | Park Add |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87108 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | See Remarks |
|---|---|
| Appliances | Refrigerator |
| Heating | Central |
| Cooling | None |
| Fireplace | No |
| # of Stories | 1 |
| Stories | One |
Exterior
| Builder | unknown |
|---|
Additional Information
| Date Listed | July 20th, 2026 |
|---|---|
| Days on Market | 30 |
| RE / Bank Owned | No |
| Finance Considered | Cash, FHA, VA Loan |
| Current Taxes | $1,818 |
Listing Details
| Office | Keyway Properties, Inc |
|---|