502–504 Utah St NE — 8-Unit Multi-Family Investment Property in Albuquerque, NM, 87108
Well-maintained 8-plex offering long-term rental income with value-add potential.
502–504 Utah St NE consists of two four-unit residential buildings forming an eight-unit multi-family property in Albuquerque. The units feature consistent layouts and solid fundamentals, making the asset suitable for investors focused on stable rental income and long-term ownership. This property is positioned for buyers evaluating multi-family assets within established Albuquerque submarkets.
8 Units
2 Floors
$1,031.25 average rent/unit
$790,000
141.07
List Price/SqFt
1979
Built in
5,600 square ft.
Property size
Multi-Family
Property type
2 Vacant
Occupancy
8.79
CAP RATE
Overview
Property Highlights:
Eight residential rental units across two four-unit buildings
Consistent unit layouts throughout the property
Spacious two-bedroom apartments
Over 5,600 square feet of total living area
Built in 1979
Well-maintained condition with established tenancy
Located within an established Albuquerque residential submarket
Who This Property Is For?
Investors seeking stable cash-flow through multi-family rental property
Buyers focused on long-term ownership rather than short-term repositioning
Portfolio investors evaluating established Albuquerque rental submarkets
Owners looking to add a well-maintained 8-unit asset to an existing portfolio
Location & Market Context
502–504 Utah St NE is located in Albuquerque’s Mesa Verde area within the city’s Northeast submarket, an established residential neighborhood characterized by long-term housing stock and consistent renter occupancy. The surrounding area is primarily residential, with nearby access to local services, employment corridors, and major transportation routes that support day-to-day livability for tenants.
Multi-family properties in this part of Albuquerque are typically evaluated for stability and long-term performance rather than short-term repositioning. The neighborhood’s established nature and proximity to everyday amenities contribute to sustained rental use, making it suitable for investors focused on durable ownership within a mature submarket.
JOSHUA CHRISTENSEN
The property consists of two four-unit residential buildings with consistent unit layouts designed for long-term rental use. The apartments are configured to support standard residential occupancy, with functional interior layouts suited for everyday living.
Overall condition reflects ongoing use and maintenance consistent with multi-family ownership. The existing configuration allows an incoming owner to continue operating the property as a stabilized rental asset without immediate changes to layout or use.
Interior
Exterior
Listing Details
Contract Information
DOM: 0
List Price/SqFt: $141.07
Current Price: $790,000
Location
County: Bernalillo
MLS Area Major: 70 - Fairgrounds
Zip +4: 4219
Zone Atlas: K19
General Property Description
# of Units: 8
5+ Units: Yes
Units for Sale: 8
Property Sub-Type: 8 Units
Living Area: 5,600
SqFt Source: Floor Plan
Lot Size Source: On-Line
Acres: 0.14
Lot SqFt: 6,098
Directions: Wyoming to Marquette, West on Marquette to Utah. South on Utah to propert on East side of street.
Stories: 2
Total # of Buildings: 2
Year Built: 1979
Year Built Source: Public Records
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Remarks Misc
Prop Specific Rmrks
Mesa Verde 8-plex featuring two solid four-unit buildings, each offering spacious 2-bedroom apartments in a high-demand rental area. Strong value-add potential through light updates and rent optimization.
Part of a portfolio of 22 units - Utah can sell with the portfolio or just the 8 units on Utah. NO Owner Financing Available.
Well-maintained and ideal for investors seeking stable, long-term cash flow while providing quality, affordable housing for the community. A proven location known for consistent occupancy and reliable performance—this property is ready to reward thoughtful ownership.
Rooms
Actual Rent: 1035
Approx. SqFt: 700
# Baths | Bedrooms: 1 | 2
Market Rent: 1200
Max Rent: 1100
Total Units: 8
More Information
CityCounty Data
UPC Code: 1-019-057-427-335-1-05-38
Tax Legal Info
GRT Code: 02-100
Tax Annual Amount: 9,678
Tax Exemption: Unknown
Construction Materials: Frame, Stucco
Build Description: Resale
Amenities: Ceiling Fan(s), Enclosed Yard, Laundry Community, Private Patios
Appliances included: Frestnd Gas Stv/Ovn, Range Hood, Refrigerator
Utilities: Electricity Connected, Natural Gas Connected, Water Connected
Heating: Central Forced Air
Cooling
Centrally Ducted: Yes
Evaporative Cooling: Yes
Flooring: Tile, Vinyl
Basement:
Basement: No
Green Energy Generation: None
Electric Provider: Public Utility
Income Expenses
Annual Gross Income: 99,000
Operating Expenses: 23,738
Metering: Individual Electric, Individual Gas
Operating Expenses: Insurance, Property Taxes, Repairs/Maintenance
Owner Pays: Sewer, Trash Removal, Water
Tenant Pays: Electric, Gas
Parking: Paved Lot
Roof: TPO (G)
Rental Info: Call Listing Broker
Sales Info:
Trade/Xch Considered: No
Finance Considered: Cash, Conventional, FHA, VA
# of Unit Types (1)
# of Units: 8
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 700
Market Rent: 1200
Max Rent: 1100
Actual Rent: 1035
Unit Summary
Total Units: 8
Average Unit Size: 700
Average Actual Rent: 1,035
Total Actual Rent: 8,280
Annualized: 99,360
Zoning: R-ML*
Documents
TOP Albuquerque Realtors®
(C) 2025 Joshua Christensen, Qualifying Broker | NMREC 20522 | Realty One of NM | 505-883-9400
502–504 Utah St NE — 8-Unit Multi-Family Investment Property in Albuquerque, NM, 87108
Well-maintained 8-plex offering long-term rental income with value-add potential.
502–504 Utah St NE consists of two four-unit residential buildings forming an eight-unit multi-family property in Albuquerque. The units feature consistent layouts and solid fundamentals, making the asset suitable for investors focused on stable rental income and long-term ownership. This property is positioned for buyers evaluating multi-family assets within established Albuquerque submarkets.
8 Units
2 Floors
$1,031.25 average rent/unit
$790,000
List Price/SqFt
141.07
Built in
1979
Property size
5,600 square ft.
Property type
Multi-Family
Occupancy
2 Vacant
CAP RATE
8.79
Overview
Property Highlights:
Eight residential rental units across two four-unit buildings
Consistent unit layouts throughout the property
Spacious two-bedroom apartments
Over 5,600 square feet of total living area
Built in 1979
Well-maintained condition with established tenancy
Located within an established Albuquerque residential submarket
Who This Property Is For?
Investors seeking stable cash-flow through multi-family rental property
Buyers focused on long-term ownership rather than short-term repositioning
Portfolio investors evaluating established Albuquerque rental submarkets
Owners looking to add a well-maintained 8-unit asset to an existing portfolio
Location & Market Context
502–504 Utah St NE is located in Albuquerque’s Mesa Verde area within the city’s Northeast submarket, an established residential neighborhood characterized by long-term housing stock and consistent renter occupancy. The surrounding area is primarily residential, with nearby access to local services, employment corridors, and major transportation routes that support day-to-day livability for tenants.
Multi-family properties in this part of Albuquerque are typically evaluated for stability and long-term performance rather than short-term repositioning. The neighborhood’s established nature and proximity to everyday amenities contribute to sustained rental use, making it suitable for investors focused on durable ownership within a mature submarket.
The property consists of two four-unit residential buildings with consistent unit layouts designed for long-term rental use. The apartments are configured to support standard residential occupancy, with functional interior layouts suited for everyday living.
Overall condition reflects ongoing use and maintenance consistent with multi-family ownership. The existing configuration allows an incoming owner to continue operating the property as a stabilized rental asset without immediate changes to layout or use.
Interior
Exterior
Listing Details
Contract Information
DOM: 0
List Price/SqFt: $141.07
Current Price: $790,000
Location
County: Bernalillo
MLS Area Major: 70 - Fairgrounds
Zip +4: 4219
Zone Atlas: K19
General Property Description
# of Units: 8
5+ Units: Yes
Units for Sale: 8
Property Sub-Type: 8 Units
Living Area: 5,600
SqFt Source: Floor Plan
Lot Size Source: On-Line
Acres: 0.14
Lot SqFt: 6,098
Directions: Wyoming to Marquette, West on Marquette to Utah. South on Utah to propert on East side of street.
General Property Description
Stories: 2
Total # of Buildings: 2
Year Built: 1979
Year Built Source: Public Records
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Remarks Misc
Prop Specific Rmrks
Mesa Verde 8-plex featuring two solid four-unit buildings, each offering spacious 2-bedroom apartments in a high-demand rental area. Strong value-add potential through light updates and rent optimization.
Part of a portfolio of 22 units - Utah can sell with the portfolio or just the 8 units on Utah. NO Owner Financing Available.
Well-maintained and ideal for investors seeking stable, long-term cash flow while providing quality, affordable housing for the community. A proven location known for consistent occupancy and reliable performance—this property is ready to reward thoughtful ownership.
Rooms
Actual Rent: 1035
Approx. SqFt: 700
# Baths | Bedrooms: 1 | 2
Market Rent: 1200
Max Rent: 1100
Total Units: 8
More Information
CityCounty Data
UPC Code: 1-019-057-427-335-1-05-38
Tax Legal Info
GRT Code: 02-100
Tax Annual Amount: 9,678
Tax Exemption: Unknown
Construction Materials: Frame, Stucco
Build Description: Resale
Amenities: Ceiling Fan(s), Enclosed Yard, Laundry Community, Private Patios
Appliances included: Frestnd Gas Stv/Ovn, Range Hood, Refrigerator
Utilities: Electricity Connected, Natural Gas Connected, Water Connected
Heating: Central Forced Air
Cooling
Centrally Ducted: Yes
Evaporative Cooling: Yes
Flooring: Tile, Vinyl
Basement:
Basement: No
Green Energy Generation: None
Electric Provider: Public Utility
Income Expenses
Annual Gross Income: 99,000
Operating Expenses: 23,738
More Information
Metering: Individual Electric, Individual Gas
Operating Expenses: Insurance, Property Taxes, Repairs/Maintenance
Owner Pays: Sewer, Trash Removal, Water
Tenant Pays: Electric, Gas
Parking: Paved Lot
Roof: TPO (G)
Rental Info: Call Listing Broker
Sales Info:
Trade/Xch Considered: No
Finance Considered: Cash, Conventional, FHA, VA
# of Unit Types (1)
# of Units: 8
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 700
Market Rent: 1200
Max Rent: 1100
Actual Rent: 1035
Unit Summary
Total Units: 8
Average Unit Size: 700
Average Actual Rent: 1,035
Total Actual Rent: 8,280
Annualized: 99,360
Zoning: R-ML*
Documents
TOP Albuquerque Realtors®
(C) 2025 Joshua Christensen, Qualifying Broker | NMREC 20522 | Realty One of NM | 505-883-9400