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29565698
29565697

615 Iron Ave SW, Albuquerque, NM 87102

TG
NM 45240
Berkshire Hathaway New Mexico Commercial Division
Listed by Berkshire Hathaway New Mexico Commercial Division
$1,500,000
141 days on market
Updated 51 days ago

Built 2024 Modern Apartments

Details
APN 101405705927520204
Property Type Multifamily
Sub Type Apartment Building
Square Footage 6,016
Units 6
Cap Rate 6.50%
NOI $102,380
Occupancy 100%
Pro-Forma NOI $85,854
Price per SqFt $266
Year Built 2023
Buildings 1
Stories 3
Acreage 0.163
Parking Spaces 11 per 1,000 sq ft

Built 2024 Modern Apartments

Marketing description

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

Investment highlights

  • Submarket: Downtown

Listing Contacts

TG
NM 45240
Berkshire Hathaway New Mexico Commercial Division
Listed by Berkshire Hathaway New Mexico Commercial Division

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$102,380.35
$8,531.70/mo

Valuation Metrics

0
DSCR
6.83%
Cap Rate
6.83%
ROI

Map

Zoning

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R-MH ResidentialMulti FamilyMultifamily High Density Residential
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Last updated May 23, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Tax History

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Additional Information

Name
Thomas Gallegos
License
45240
Brokerage
Berkshire Hathaway Commercial
Brokerage Phone
5052618687
Title
Associate Broker
Brokerage Address
6711 Academy Road Northeast
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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