528 Alvarado Drive SE Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
Property Features for 528 Alvarado Drive SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bedroom 4, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3, Bedroom 7, Bedroom 1, Bathroom 4, Bedroom 6, Bedroom 8, Bathroom 1, 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
- Central, Forced Air
Building Details
- Year built
- 2011
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Carpet, Vinyl
- Building materials
- Stucco
Listing agent Janis E Fensterer License #46826 (505) 379-9360
Listing office Realty One of New Mexico 4121 Wyoming Blvd NE, Albuquerque, NM (505) 883-9400
Listing date May 29, 2025
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.
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
- 2011‑built Southeast Heights 4‑plex with four 2‑bedroom, 1‑bath units
- All four units are fully occupied
- 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 |
