Two-Unit
520 Iron Avenue SE, Albuquerque, NM 87102
For Sale
$350,000
Residential Income, Albuquerque, NM
Property Size1,528 SF
Lot Size0.05 Acres
Price / SF$229.06
Days on Market189
Property Features for 520 Iron Avenue SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Number of units
Listing Agency:
EXP Realty LLC
(505) 554-3873
Listed By:
Gabriel J Alarid · License NM #50351
(505) 470-9534
Added: May 7
Changed: Nov 9
Last Checked: Nov 11 at 9:06AM
MLS# 1106262
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.
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Investment Insights
Based on property information with market context.
This renovated duplex at 520 Iron Avenue SE contains two residences, each configured with two bedrooms and one bathroom. One unit has an open living area and a modern kitchen; the other has a separate two-bedroom layout. The property was built in 1901 and is zoned R-1C*.
The listing identifies Presbyterian Hospital, the University of New Mexico Main Campus, Downtown, and local dining and entertainment as nearby destinations, described as minutes away.
The listing identifies Presbyterian Hospital, the University of New Mexico Main Campus, Downtown, and local dining and entertainment as nearby destinations, described as minutes away.
Key Highlights
- Two residences, each with 2 bedrooms and 1 bathroom
- 1,528 square feet of building area
- 0.05‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,949
Cap Rate
3.99%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,980
$279.0K
Cap Rate 7%
$199,271
$199.3K
Cap Rate 9%
$154,989
$155.0K
Market Conditions
NOI Build-Up for 1,528 SF
Gross rent
$21.1K $13.80/SF
− Vacancy
−$1.2K −$0.76/SF
EGI
$19.9K $13.04/SF
− OpEx
−$6.0K −$3.91/SF
NOI
$13.9K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$278,980
Cap Rate 7%
$199,271
Cap Rate 9%
$154,989
Alternative Uses
Best Use
Multifamily LT 5
$199.3K
$174.4K – $232.5K
NOI $13,949 @ 7.0% cap · market cap 3.99%
Second Best
Apartment 5plus
$184.4K
$161.3K – $215.1K
NOI $12,907 @ 7.0% cap · market cap 3.69%
Theoretical Best
Office A
$369.7K
$323.5K – $431.3K
NOI $25,876 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
3,287
Businesses Nearby
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Business Placement
Demographics for 87102, NM
20,610
Population
11,346
Households
1.8
Avg Household Size
38
Median Age
34%
College-Educated
83%
High-School Grad
6.5 sq mi
ZIP Area
3,171
Density / Sq Mi
$37,276
Median Household Income
$29,184
Median Earnings
$868
Median Rent
$174,400
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Albuquerque, NM
Properties on Market for Duplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Each residence has two bedrooms, one bathroom, and its own distinct living layout.
Where is this duplex located?
The property is located at 520 Iron Avenue SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Two residences, each with 2 bedrooms and 1 bathroom; 1,528 square feet of building area; 0.05‑acre lot
