517 Palomas Drive SE Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
Property Features for 517 Palomas Drive SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 6
- Bathrooms
- 4
- Rooms
- Bathroom 1, Bedroom 2, Bedroom 6, Bathroom 4, Bathroom 2, Bedroom 5, Bathroom 3, Bedroom 3, Bedroom 1, Bedroom 4
- Security features
- Security
- Patio and Porch features
- Patio
- Exterior features
- Patio
- Accessibility
- Accessible Approach with Ramp
- Appliances
- Cooktop, Disposal
- Standard status
- Active
- APN
- 101805608950522708
- Size
- 3,040 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4126
Utilities
- Heating system
- Electric (Heating)
Building Details
- Year built
- 1963
- Floors in Building
- 1
- Number of units
- 4
- Flooring type
- Tile
- Building materials
- Brick, Stucco
Listing agent K2 Omni Group License #50525, 20817 (505) 750-2837
Listing office EXP Realty, LLC 5700 University Blvd Ste 330, Albuquerque, NM (505) 750-2837
Listing date Mar 14, 2026
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
On-site security is supported by a metal gate that provides both vehicle and pedestrian access. A surveillance security system is currently in place and may be purchased separately from the seller. The property is being sold as-is. It may be purchased individually or together with 521 Paloma to create an expanded investment.
For tenants, the layout supports independent use with in-unit kitchen appliances and laundry hookups, plus dedicated outdoor space. For buyers, this is a straightforward, bricked-masonry quadplex with established residential amenities and added on-site security features. The seller notes the property may qualify for Section 8.
Key Highlights
- Brick and stucco 4‑unit investment property built in 1963
- Each unit includes a private backyard space
- Security metal gate provides vehicle and pedestrian access; surveillance security system is in place (may be purchased separately)
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $42.0k | $13.80 |
| − Vacancy | −$2.3k | −$0.76 |
| EGI | $39.6k | $13.04 |
| − OpEx | −$11.9k | −$3.91 |
| NOI | $27.8k | $9.13 |
