$900,000

517-521 Palomas Dr SE Albuquerque, NM 87108

South San Pedro Neighborhood

Estimated payment $5,751/month

Total Views 228
2 Beds
1 Bath
6,080 Sq Ft
$148 Price per Sq Ft

Highlights

  • Evaporated cooling system
  • Security Gate
  • Forced Air Heating System
  • Patio
  • Tile Flooring
  • Ceiling Fan

About This Home

8 UNITS!!!! Two adjacent 4-plexes at 517 and 521 Palomas Drive SE in Southeast Albuquerque are offered at $450,000 each and must be sold together for a combined $900,000. Consist of 2B/1B x4 units & 1B/1B x4 units. This well-maintained 8-unit portfolio is located in a strong rental area and features low-maintenance brick construction with secured gated parking. Units have been updated with new appliances, in-unit washers and dryers, fresh paint, upgraded plumbing, new furnaces, a swamp cooler, enhanced security gates, and a 2017 roof. Fully occupied with strong rent roll and additional upside through future lease-up at market rates.

Listing Agent

Jared English

Congress Realty, Inc License #20608 Listed on: 08/27/2025

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $10,286

Year Built

  • Built in 1963

Lot Details

  • 6,970 Sq Ft Lot
  • Additional Parcels

Parking

  • 9 Parking Spaces

Home Design

  • Brick Exterior Construction

Interior Spaces

  • 6,080 Sq Ft Home
  • Property has 1 Level
  • Ceiling Fan
  • Tile Flooring
  • Security Gate

Kitchen

  • Range Hood
  • Disposal

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Bathroom

Laundry

  • Laundry in Garage
  • Dryer
  • Washer

Outdoor Features

  • Patio
  • Exterior Lighting

Utilities

  • Evaporated cooling system
  • Forced Air Heating System

Listing and Financial Details

  • The owner pays for trash collection, water
  • Assessor Parcel Number 101805608950522708

Community Details

Overview

  • 8 Units
  • 6,080 Sq Ft Building

Building Details

  • Operating Expense $31,500
  • Gross Income $108,000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$10,286

Year Built

Built in 1963

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • Directions: At Central and San Mateo intersection go south on San Mateo until you reach Zuni. Turn left (east) on Zuni. Take a right (south) on Palomas Dr. The property will be on the right hand side.
  • Listing Contract Date: 2025-08-27
  • Year Built: 1963
  • Lot Size Acres: 0.16
  • Unit Levels: One
  • New Construction: No
  • Special Features: None

Interior Features

  • Flooring: Tile
  • Appliances: Dryer, Disposal, Refrigerator, Range Hood, Washer
  • Interior Amenities: Ceiling Fan(s)
  • Stories: 1
  • Number Of Buildings: 2
  • Accessibility Features: None
  • Basement YN: No
  • Total Bedrooms: 2
  • Living Area: 6080.0

Exterior Features

  • Exterior Features: Lighting, Patio
  • Disclosures: Lead Based Paint Disclosure, Principal is Real Estate Licensed, RANM 2100 Disclosure
  • Builder Name: Unknown
  • Construction Type: Brick, Brick Veneer
  • Patio And Porch Features: Patio
  • Property Condition: Resale

Garage/Parking

  • Total Parking Spaces: 9.0

Utilities

  • Cooling: Evaporative Cooling, Ceiling Fan(s)
  • Heating: Central, Forced Air
  • Utilities: Electricity Available, Natural Gas Available, Sewer Available, Water Available
  • Laundry Features: Washer Hookup, Dryer Hookup, In Unit
  • Security: Security Gate
  • Cooling Y N: Yes
  • Heating Yn: Yes

Condo/Co-op/Association

  • Community Features: Patio

Green Features

  • Green Power: None

Lot Info

  • Lot Size Sq Ft: 6969.6
  • Additional Parcels: Yes
  • Parcel #: 101805608950522708
  • Zoning Description: R-MH*

Rental Info

  • Tenant Pays: Electricity, Gas
  • Owner Pays: Other, See Remarks, Trash Collection, Water

Multi Family

  • Number Of Units Total: 8
  • Annual Gross Income: 108000.0
  • Annual Operating Expense: 31500.0

Tax Info

  • Tax Annual Amount: 10286.0

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/27/2025 08/27/25 For Sale $900,000 0.0% $148 / Sq Ft
06/04/2025 06/04/25 Off Market $1,200 -- --
04/25/2025 04/25/25 Price Changed $1,200 +20.0% $2 / Sq Ft
01/13/2025 01/13/25 Price Changed $1,000 -16.7% $1 / Sq Ft
07/20/2024 07/20/24 Price Changed $1,200 +20.0% $2 / Sq Ft
11/18/2023 11/18/23 Price Changed $1,000 -23.1% $1 / Sq Ft
11/17/2023 11/17/23 Price Changed $1,300 +8.3% $2 / Sq Ft
11/17/2023 11/17/23 For Rent $1,200 -- --
Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

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Source: Southwest MLS (Greater Albuquerque Association of REALTORS®)

MLS Number: 1090425

Southwest MLS (Greater Albuquerque Association of REALTORS®)

APN: 1-018-056-089-505-2-27-08

New Mexico Bernalillo County Albuquerque 87108 South San Pedro

517-521 Palomas Dr SE, Albuquerque, NM

This home is located at 517-521 Palomas Dr SE, Albuquerque, NM 87108 and is currently priced at $900,000, approximately $148 per square foot. This property was built in 1963. 517-521 Palomas Dr SE is a home located in Bernalillo County with nearby schools including Whittier Elementary School, Wilson Middle School, and Highland High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Southwest MLS (Greater Albuquerque Association of REALTORS®) IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Nearby Homes
Listing Agent
Jared English
Section Image
Congress Realty, Inc
(888) 881-4118