Fully Occupied
For Sale
$469,000
528 Alvarado Drive SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size3,640 SF
Lot Size0.16 Acres
Price / SF$128.85
Days on Market513
Property Features for 528 Alvarado Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-MH*
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 4, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 8, Bedroom 7, Bedroom 3, Bedroom 1, Bathroom 4
Appliances
Dryer, Dishwasher, Microwave, Refrigerator, Washer
Subdivision
Shirley S Subd
Directions
SOUTH on San Mateo-EAST on Zuni-SOUTH on Alvarado-Property on EAST side of street
Standard status
Active
APN
101805614248922918
Size
3,640 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Description
LT 17 BLK 4 SHIRLEY'S SUBD BARON BURG HEIGHTS
Tax Annual Amount
4283
Legal Description
LT 17 BLK 4 SHIRLEY'S SUBD BARON BURG HEIGHTS
Utilities
Heating system
Forced Air, Central
Building Details
Year built
2011
Floors in Building
2
Number of units
4
Flooring type
Carpet, Vinyl
Building materials
Stucco
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Janis E Fensterer · License #46826
(505) 379-9360
Added: May 29, 2025
Changed: Oct 18
Last Checked: Oct 23 at 12:06AM
MLS# 1104528
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.
Located at 528 Alvarado Drive SE in Albuquerque, this quadplex contains four occupied two-bedroom, one-bath residences within a 3,640-square-foot property on 0.16 acres. Built in 2011, the building has stucco construction, vinyl and carpet flooring, and central forced-air heating. Each residence is supported by its own utility meter, creating clear separation among the units.
The property is positioned in Albuquerque’s Southeast Heights area, with shopping, dining, and everyday amenities nearby. Unit appliances include washers, dryers, dishwashers, microwaves, and refrigerators. The existing four-unit layout and current occupancy provide a defined multifamily configuration for investors evaluating residential income property.
The property is positioned in Albuquerque’s Southeast Heights area, with shopping, dining, and everyday amenities nearby. Unit appliances include washers, dryers, dishwashers, microwaves, and refrigerators. The existing four-unit layout and current occupancy provide a defined multifamily configuration for investors evaluating residential income property.
Key Highlights
- Four fully occupied 2‑bedroom, 1‑bath units
- 3,640 square feet on a 0.16‑acre lot
- Individual utility meter for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,228
Cap Rate
7.08%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$664,560
$664.6K
Cap Rate 7%
$474,686
$474.7K
Cap Rate 9%
$369,200
$369.2K
Market Conditions
NOI Build-Up for 3,640 SF
Gross rent
$50.2K $13.80/SF
− Vacancy
−$2.8K −$0.76/SF
EGI
$47.5K $13.04/SF
− OpEx
−$14.2K −$3.91/SF
NOI
$33.2K $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%
$664,560
Cap Rate 7%
$474,686
Cap Rate 9%
$369,200
Alternative Uses
Best Use
Multifamily LT 5
$474.7K
$415.4K – $553.8K
NOI $33,228 @ 7.0% cap · market cap 7.08%
Second Best
Apartment 5plus
$439.2K
$384.3K – $512.4K
NOI $30,746 @ 7.0% cap · market cap 6.56%
Theoretical Best
Office A
$880.6K
$770.5K – $1.03M
NOI $61,641 @ 7.0% cap · market cap 13.14%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,376
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
Frequently Asked Questions
What type of property is this?
Quadplex - Four separately metered rental units provide an established multifamily configuration near shopping, dining, and daily conveniences.
Where is this quadplex located?
The property is located at 528 Alvarado Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $469,000.
What are key features of this property?
This property features: Four fully occupied 2‑bedroom, 1‑bath units; 3,640 square feet on a 0.16‑acre lot; Individual utility meter for each unit
