For sale

$850,000

511 Spruce St SE, Albuquerque, NM 87106

7beds

6baths

3,749sqft

$5,999/mo

Get pre-qualified

Multi Family

Built in 1936

-- sqft lot

$-- Zestimate^®

$227/sqft

$-- HOA

What's special

Fully furnished unitsInterior paintExterior paint and stuccoNew roofsHeating and cooling systems

Offered at $850,000 ($141,666/unit) with an attractive 7.28% acquisition cap rate, 511 Spruce St SE presents a rare opportunity to acquire a fully stabilized multifamily asset with proven in-place cash flow. The property is 100% occupied and features four fully furnished units, with five of the six units having undergone extensive renovations including new roofs, heating and cooling systems, exterior paint and stucco, appliances, flooring, and interior paint. A diverse unit mix supports broad tenant demand, while its long history of strong occupancy as furnished rentals is complemented by an exceptional location near UNM, Presbyterian Hospital, CNM, Kirtland Air Force Base, and Downtown Albuquerque.

116 days
123
7

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 7
Bathrooms: 6

Heating

Ductless

Cooling

Ductless, Evaporative Cooling

Appliances

Included: Dishwasher, Free-Standing Gas Range, Microwave, Refrigerator
Laundry: Washer Hookup, Dryer Hookup, In Unit

Features

Flooring: Tile, Vinyl

Interior area

Total structure area: 3,749
Total interior livable area: 3,749 sqft

Property

Features

Levels: One
Stories: 1

Lot

Size: 0.31 Acres

Details

Parcel number: 101505717917630909
Zoning description: R-T*

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Condition

Resale
New construction: No
Year built: 1936

Utilities & green energy

Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Green energy

Energy generation: None

Community & HOA

Community

Security: Complex Fenced
Subdivision: Terrace Add

Location

Region: Albuquerque

Financial & listing details

Price per square foot: $227/sqft
Tax assessed value: $224,990
Annual tax amount: $3,168
Date on market: 6/15/2026
Cumulative days on market: 116 days
Listing terms: Cash,Conventional
Total actual rent: 8495
Tenant pays: None

Estimated market value

Not available

Estimated sales range

Not available

Price history

Date	Event	Price
6/15/2026	Listed for sale	$850,000+65.1%$227/sqft
Source: SWMLS #1105527 Report a problem
7/30/2020	Listing removed	$514,900$137/sqft
Source: Absolute Real Estate #972174 Report a problem
7/13/2020	Listed for sale	$514,900$137/sqft
Source: Absolute Real Estate #972174 Report a problem
2/4/2016	Listing removed	$575
Source: Owner Report a problem
12/16/2015	Listed for rent	$575-39.5%
Source: Owner Report a problem
10/19/2015	Listing removed	$950
Source: Owner Report a problem
10/5/2015	Listed for rent	$950
Source: Owner Report a problem
3/9/2015	Listing removed	$950
Source: Owner Report a problem
2/11/2015	Listed for rent	$950
Source: Owner Report a problem
11/15/2013	Listing removed	$950
Source: Go Section8 Report a problem
11/9/2013	Listed for rent	$950
Source: Go Section8 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2025	$3,169 +3.2%	$74,989 +3%
2024	$3,072 +1.7%	$72,805 +3%
2023	$3,021 +3.5%	$70,685 +3%
2022	$2,919 +51.1%	$68,626 +50.4%
2021	$1,932 +1.7%	$45,641 +3%
2020	$1,901	$44,311 +3%
2019	--	$43,021
2018	$1,630 -8.4%	$43,021 +3%
2017	$1,779 +6.2%	$41,768 +6.1%
2016	$1,675 -95.6%	$39,371 +3%
2015	$38,225 +2325.6%	$38,225 +3%
2014	$1,576	$37,112 +3%
2013	$1,576	$36,031 -49%
2012	--	$70,616
2011	--	$70,616
2010	--	$70,616 -20%
2009	--	$88,324
2008	--	$88,324 -8%
2007	--	$96,023 +227.8%
2006	--	$29,297 +3%
2005	--	$28,444 +3%
2004	--	$27,615 +3%
2003	--	$26,812 +3%
2002	--	$26,031
2001	--	$26,031
2000	--	$26,031