For sale

$1,500,000

615 Iron Ave SW, Albuquerque, NM 87102

12beds

12baths

6,574sqft

$9,415/mo

Get pre-qualified

Multi Family

Built in 2023

-- sqft lot

$-- Zestimate^®

$228/sqft

$-- HOA

What's special

Contemporary finishesNewer constructionEfficient layouts

Exceptional investment opportunity! This modern 6-unit building, just two years old, showcases quality craftsmanship from an experienced builder/owner and delivers an impressive cap rate. Each unit is thoughtfully designed with contemporary finishes and efficient layouts, ensuring both style and durability. Currently operated as successful Airbnb rentals, this property offers strong, proven income potential and immediate cash flow. The building's newer construction minimizes maintenance costs while maximizing long-term value, ideal for investors seeking turnkey performance in a thriving short-term rental market. A rare chance to own a high performing income property built and managed with experience and attention to detail. 5 of 6 units are now cash flowing AirBnB units - See APOD

112 days

259

14

Facts & features

Interior

Bedrooms & bathrooms

Bedrooms: 12
Bathrooms: 12

Heating

Central, Electric, Forced Air

Cooling

Ductless, Refrigerated

Appliances

Included: Built-In Gas Range

Features

Flooring: Carpet, Concrete, Tile

Interior area

Total structure area: 6,574
Total interior livable area: 6,574 sqft

Property

Features

Levels: Three Or More
Stories: 3

Lot

Size: 6,969 Square Feet

Details

Parcel number: 101405705927520204
Zoning description: R-MH*

Construction

Type & style

Home type: MultiFamily
Property subtype: Multi Family

Materials

Frame, Stucco

Condition

Resale
New construction: No
Year built: 2023

Details

Builder name: Sierra Hacienda Builders

Utilities & green energy

Electric: None
Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Underground Utilities, Water Connected

Green energy

Energy generation: None

Community & HOA

Community

Features: Deck/Porch
Subdivision: Block X Atlantic And Pacific Add

Location

Region: Albuquerque

Financial & listing details

Price per square foot: $228/sqft
Tax assessed value: $28,200
Annual tax amount: $16,575
Date on market: 5/5/2026
Cumulative days on market: 1740 days
Listing terms: Cash,Conventional
Total actual rent: 13200
Tenant pays: Electricity, Gas, Sewer, Trash Collection, Water

Estimated market value

Not available

Estimated sales range

Not available

$2,890/mo

Price history

Date	Event	Price
5/5/2026	Listed for sale	$1,500,000-4.8%$228/sqft
Source: SWMLS #1102929 Report a problem
5/5/2026	Listing removed	$1,575,000$240/sqft
Source: BHHS broker feed #1003217 Report a problem
3/28/2026	Price change	$1,575,000-1.6%$240/sqft
Source: SWMLS #1003217 Report a problem
7/19/2024	Price change	$1,600,000-5.9%$243/sqft
Source: SWMLS #1003217 Report a problem
6/20/2024	Pending sale	$1,700,000$259/sqft
Source: SWMLS #1003217 Report a problem
6/11/2024	Price change	$1,700,000-5.6%$259/sqft
Source: SWMLS #1003217 Report a problem
8/7/2022	Price change	$1,800,000-10%$274/sqft
Source: SWMLS #1003217 Report a problem
10/20/2021	Listed for sale	$2,000,000+830.2%$304/sqft
Source: SWMLS #1003217 Report a problem
9/29/2021	Sold	--
Source: SWMLS #988731 Report a problem
7/12/2021	Pending sale	$215,000$33/sqft
Source: SWMLS #988731 Report a problem
4/1/2021	Listed for sale	$215,000+72%$33/sqft
Source: SWMLS #988731 Report a problem
4/2/2020	Listing removed	$125,000$19/sqft
Source: Affordable Realty Services Inc #941244 Report a problem
10/19/2019	Price change	$125,000-16.7%$19/sqft
Source: Affordable Realty Services Inc #941244 Report a problem
4/11/2019	Price change	$150,000-24.6%$23/sqft
Source: Affordable Realty Services Inc #941244 Report a problem
4/4/2019	Listed for sale	$199,000+65.9%$30/sqft
Source: Affordable Realty Services Inc #941244 Report a problem
7/14/2017	Sold	--
Source: SWMLS #891121 Report a problem
6/19/2017	Pending sale	$119,950$18/sqft
Source: Realty One of New Mexico #891121 Report a problem
6/19/2017	Listed for sale	$119,950$18/sqft
Source: Realty One of New Mexico #891121 Report a problem
6/10/2017	Pending sale	$119,950$18/sqft
Source: Realty One of New Mexico #891121 Report a problem
5/30/2017	Price change	$119,950-7.7%$18/sqft
Source: Realty One of New Mexico #891121 Report a problem
5/6/2017	Listed for sale	$129,900$20/sqft
Source: Realty One of New Mexico #891121 Report a problem

Public tax history

Year	Property taxes	Tax assessment
2017	$448 -49.8%	$9,399 -55.1%
2016	$893 -95.6%	$20,944 +3%
2015	$20,335 +1462.5%	$20,335 +3%
2014	$1,301	$19,743 +3%
2013	$1,301	$19,169 +3%
2012	--	$18,610 +3%
2011	--	$18,069 +3%
2010	--	$17,543 +3%
2009	--	$17,032 +3%
2008	--	$16,536 +3%
2007	--	$16,055 +3%
2006	--	$15,588 +3%
2005	--	$15,134 +3%
2004	--	$14,693 +3%
2003	--	$14,265
2002	--	$14,265 +2.9%
2001	--	$13,865 -0.5%
2000	--	$13,932