1030 Truman St SE 1040 truman St SE

1030 & 1040 Truman St SE, a bundled offering of two adjacent multifamily buildings comprising a total of 9 rental units in the heart of Albuquerque’s Southeast quadrant. Positioned just blocks from Central Avenue, this investment package delivers strong income potential and a prime location near major employment centers, transit corridors, and neighborhood amenities.

The unit mix offers valuable diversity, with 3 two-bedroom/one-bathroom and 3 one-bedroom/one-bathroom units at 1030 Truman — complete with private garages — and an additional 3 units at 1040 Truman, including one 1-bedroom/1-bathroom and two 2-bedroom/1-bathroom apartments. The buildings are situated on spacious lots with mature landscaping, wrought iron security, and private courtyard areas that enhance curb appeal and resident livability.

The projected gross income of $139,200 annually, adjusted for a 5% vacancy to $132,240, with estimated operating expenses of $37,361, yielding a pro forma NOI of $94,879. At the asking price of $1,500,000, the property offers a projected cap rate of 6.33% with a before-tax IRR of 17.41% .

Zoned MX-L (Mixed-Use Low Intensity), the property allows for flexible long-term uses and is located in an established rental corridor with consistent tenant demand. Proximity to Nob Hill, UNM, and Kirtland Air Force Base adds to the appeal for investors seeking stable returns in central Albuquerque.

This listing is part of a larger portfolio that includes two single-family income-producing homes.  Please contact Tai Alley at 505 980-6151 if you would like more information on the complete portfolio. The seller is offering a Real Estate Contract REC to qualified investors at very attractive terms for this property and the complete portfolio.