1008 Alvarado Dr SE, Albuquerque, NM, 87108
About This Home
*Property is being sold as a package with 1024 Alvarado Dr. SE* Offered at $3,400,000 ($79,070/unit), this 43-unit multifamily investment presents a compelling value-add opportunity with a 5.89% acquisition cap rate and a projected 6.42% pro forma cap rate. The property was 100% occupied as of March 2026 and features in-place rents estimated to be approximately 14% below market, providing meaningful revenue upside. Recent interior renovations have been completed throughout the majority of units, reducing near-term capital needs. Located within Albuquerque's established Southeast submarket, the property benefits from proximity to Kirtland Air Force Base, major employment centers, and convenient I-25 access. Seller financing is available.
Getting Around
Very Walkable
Some Transit
Very BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 1972
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Free-Standing Gas Range,Refrigerator
Bedrooms & Bathrooms
- Bedrooms: 1
- Bathrooms: 2
Features
- Flooring: Tile,Vinyl
Heating & Cooling
- Heating features: Wall Furnace
- Cooling features: Refrigerated
Interior Area
- Total structure area: 6,090
- Total interior livable area: 6,090 sqft
Property
Details
- Parcel number: 101805614017631710
- Zoning description: R-MH*
Features
- Levels: Two
- Stories: 2
- Exterior features: Landscaping
Lot
- Lot size: 0.56 Acres
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Winter Weather
- Hail
- Inland Flooding
- Lightning
How This Home’s Risks Compare
FEMA Declared Disasters in Bernalillo County and New Mexico
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $8,796 | $105,552 |
| Home Insurance * | $116 | $1,392 |
| Property Taxes | $1,232 | $14,784 |
| Electricity | $432 | $5,195 |
| Total | $10,576 | $126,912 |
Income You'd Need if You Spent...
New Mexico FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
No market data available for this area
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2026-08-06 | Listed for rent | $625 |
| 2026-07-08 | Listing removed | $750 |
| 2026-06-12 | Listed for sale | $1,739,530 |
| 2026-06-08 | Pending sale | $1,739,530 |
| 2026-05-21 | Listed for sale | $1,739,530 |
| 2026-03-20 | Listed for rent | $750 |
| 2025-12-15 | Listing removed | $625 |
| 2025-10-10 | Listed for rent | $625 |
| 2025-04-30 | Listing removed | $625 |
| 2025-02-19 | Listed for rent | $625 |
| 2024-08-20 | Listing removed | -- |
| 2024-07-11 | Price change | $675 |
| 2024-06-19 | Price change | $650 |
| 2024-05-13 | Listed for rent | $625 |
| 2022-11-30 | Listing removed | -- |
| 2022-11-17 | Price change | $675 |
| 2022-11-03 | Price change | $625 |
| 2022-10-25 | Listed for rent | $635 |
| 2022-10-05 | Listing removed | -- |
| 2022-09-13 | Listed for rent | $635 |
| 2022-07-29 | Listing removed | -- |
| 2022-07-26 | Listed for rent | $635 |
| 2012-08-15 | Listing removed | $399 |
| 2012-07-17 | Listed for rent | $399 |
View on Zillow