4-Unit Apartment
For Sale
$390,000
508 Indiana St SE, Albuquerque, NM 87108
Three two-bedroom units and one three-bedroom unit provide a defined residential income configuration.
Property SizeContact for details
Days on Market216
Property Features for 508 Indiana St SE
General Information
Standard status
Active
Property subtype
Multifamily
Zoning
R-ML
Units
Unit Mix
3 x 2BR/1BA, 1 x 3BR/1BA
Multifamily Units
4
Additional Details
Cap Rate
9.48%
Building Details
Buildings
1
Listing Agency:
Keyway Properties, Inc.
Listed By:
Angelo Mora · License #REC20230254
(505) 903-2040
Source:
Carnm.resimplifi
Added: Mar 6
Changed: Oct 7
Last Checked: Oct 7 at 8:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keyway Properties, Inc.
Investment Insights
Based on property information with market context.
This 3,267-square-foot quadplex contains four residential apartments: three with two bedrooms and one bathroom, plus a fourth with three bedrooms and one bathroom. The building has separate gas and electric meters for each unit, while utilities are currently included in rent for tenants participating in subsidized housing programs. That metering setup gives ownership a way to evaluate separate utility billing in the future.
The roof was replaced in December of 2025. The property is situated in an established rental area with other multifamily properties nearby at 508 Indiana St SE in Albuquerque, New Mexico. The property information also reports a 9.48% cap rate at full asking price.
The roof was replaced in December of 2025. The property is situated in an established rental area with other multifamily properties nearby at 508 Indiana St SE in Albuquerque, New Mexico. The property information also reports a 9.48% cap rate at full asking price.
Key Highlights
- Four residential units totaling 3,267 SF
- Unit mix includes three 2 bed/1 bath apartments and one 3 bed/1 bath apartment
- Individual gas and electric meters serve the units
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
929
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Three two-bedroom units and one three-bedroom unit provide a defined residential income configuration.
Where is this quadplex located?
The property is located at 508 Indiana St SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $390,000.
What are key features of this property?
This property features: Four residential units totaling 3,267 SF; Unit mix includes three 2 bed/1 bath apartments and one 3 bed/1 bath apartment; Individual gas and electric meters serve the units
