Four-Unit Income
528 Alvarado Drive SE Albuquerque, NM 87108
528 Alvarado Drive SE, Albuquerque, NM, 87108
$469,000
For Sale
$469,000
MULTI_FAMILY - Albuquerque, NM
Property Size3,640 SF
Lot Size0.16 Acres
Price / SF$128.85
Days on Market417
Property Features for 528 Alvarado Drive SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 8, Bedroom 4, Bathroom 2, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 1, Bathroom 3, Bedroom 7, Bathroom 4, Bedroom 3, Bedroom 5
- Appliances
- Dryer, Dishwasher, Microwave, Refrigerator, Washer
- 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
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
4121 Wyoming Blvd NE, Albuquerque, NM
Listed by
Janis E Fensterer · License #46826
(505) 379-9360
Added: May 29, 2025 Checked: Jul 19 at 4:06 am
MLS# 1104528
Listing URL
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.
This four-unit multifamily property is configured as a Southeast Heights 4-plex with four fully occupied 2-bedroom, 1-bath units. Each unit has its own individual utility meter, supporting straightforward billing and tenant accountability. With an income-producing setup already in place, the property presents a practical option for investors seeking established cash flow.
Located in Albuquerque, NM, the property sits near shopping, dining, and everyday amenities, enhancing its appeal to prospective renters. The offering is listed for sale and totals approximately 3,640 square feet on a 0.16-acre lot.
Given the fully occupied unit mix and individual utility metering, this property may fit well for buyers looking to expand a rental portfolio with minimal initial leasing risk. The consistent 2-bedroom floorplans can also support steady demand, making it a strong consideration for investors focused on maintaining a diversified, unit-based income stream.
Located in Albuquerque, NM, the property sits near shopping, dining, and everyday amenities, enhancing its appeal to prospective renters. The offering is listed for sale and totals approximately 3,640 square feet on a 0.16-acre lot.
Given the fully occupied unit mix and individual utility metering, this property may fit well for buyers looking to expand a rental portfolio with minimal initial leasing risk. The consistent 2-bedroom floorplans can also support steady demand, making it a strong consideration for investors focused on maintaining a diversified, unit-based income stream.
Key Highlights
- Southeast Heights 4‑plex built in 2011
- Four fully occupied 2‑bedroom, 1‑bath units
- Each unit has its own individual utility meter
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 | $50.2k | $13.80 |
| − Vacancy | −$2.8k | −$0.76 |
| EGI | $47.5k | $13.04 |
| − OpEx | −$14.2k | −$3.91 |
| NOI | $33.2k | $9.13 |
3,640 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fully occupied 2-bedroom, 1-bath units with individual utility meters provide investor-friendly rental income potential.
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: Southeast Heights 4‑plex built in 2011; Four fully occupied 2‑bedroom, 1‑bath units; Each unit has its own individual utility meter
