Searching ...

Offered at $850,000 ($141,666/unit) with an attractive 7.28% acquisition cap rate, 511 Spruce St SE presents a rare opportunity to acquire a fully stabilized multifamily asset with proven in-place cash flow. The property is 100% occupied and features four fully furnished units, with five of the six units having undergone extensive renovations including new roofs, heating and cooling systems, exterior paint and stucco, appliances, flooring, and interior paint. A diverse unit mix supports broad tenant demand, while its long history of strong occupancy as furnished rentals is complemented by an exceptional location near UNM, Presbyterian Hospital, CNM, Kirtland Air Force Base, and Downtown Albuquerque.

Highlights

  • Residential Income
  • Multi Family
  • Built in 1936
  • 0.31 Acre Lot
  • 148 days on Market

  • Bedrooms
    7
  • Year Built
    1936
  • Stories
    1.0
  • Living Area
    3749.0
  • Appliances
    Dishwasher, Microwave, Refrigerator, Free-Standing Gas Range
  • Flooring
    Tile, Vinyl
  • Cooling
    Ductless, Evaporative Cooling
  • Heating
    Ductless

  • Acres
    0.31
  • Utilities
    Natural Gas Available, Natural Gas Connected, Electricity Connected, Sewer Connected, Water Connected


Ask a Question

preferred real estate partner

What's your home worth?

Calculate your current home value within seconds.

Frequently Asked Questions

How do I schedule a tour of 511 Spruce St?

We can make that happen quickly. Click Tour This Home and we'll connect you directly with our vetted local partner to schedule your visit to 511 Spruce St.

They know residential incomes in the area well and can give you the guidance you need to buy with confidence.

How do I get more information about 511 Spruce St?

Click Ask a Question to talk with our team. You already know it is a 7 bed, N/A bath, listed for $850,000. We can talk through recent upgrades, potential seller motivation, how this multi family compares to others in Albuquerque, and can even get you in to see the property quickly.

How much is the monthly mortgage payment for 511 Spruce St?

With a 20% down payment and a 30-year fixed loan at an illustrative 7.25% rate, the ez Mortgage Calculator estimates the monthly payment for 511 Spruce St at around $5,101. This includes estimated property taxes and insurance.

Want to see how this changes with different down payments or interest rates? Jump to the calculator to run the numbers and fine-tune your plan.

How do I get pre-approved to buy 511 Spruce St?

Stand out in a competitive market by getting pre-approved today. Our quick and private pre-approval process helps you understand your true buying power—no credit pull required to explore all of your options.

Or, let us connect you with our preferred local lender in Bernalillo County. They will give you all of your available financing options, based on your specific situation and what is available to you.

Can I negotiate the asking price for 511 Spruce St?

In most cases, yes. Whether 511 Spruce St is priced competitively or not, your best offer depends on your personal situation, the seller's timeline, and recent activity in Albuquerque's market. Our preferred local partner will help you craft a strategy—factoring in comparable properties that have sold, timing, and deal structure—to make a smart, strong offer. Click here to ask about negotiation opportunities.

How do I make an offer on 511 Spruce St?

We can handle that for you. Our preferred local agent specializes in residential incomes in Albuquerque and can guide you through every step of the offer process.

You need an expert who is looking out for your best interests. From market valuation to contingencies and timing, they'll help you present a compelling offer that fits your goals. Click Ask a Question to get started today.

What is the price per square foot for this home?

This home is listed at $850,000 with 3,749 sqft of space—that comes out to approximately $227 per square foot.

How long has this property been on the market?

511 Spruce St was listed on June 15, 2026, which means it's been on the market for 148 days.

Want to keep tabs on it? Click the ♥ to favorite this home and get notified of price drops or changes.

When was this house built?

This home was built in 1936, making it approximately 90 years old.

What is the lot size of this property?

511 Spruce St sits on a 0.31-acre lot, which is 13,504 square feet.

What are the property taxes for 511 Spruce St?

The most recent public record shows annual property taxes for 511 Spruce St were approximately $3,169. This may change with reassessment or exemptions. Our local partner can verify current tax amounts and help you estimate future costs based on your situation.

Is 511 Spruce St still available for sale?

Yes, this home is still available! Click the ♥ to favorite it so you don't miss any changes—or ask our local expert to schedule a time to see it in person.

Source: ez Home Search, MLS Data

Popular Home Searches in Albuquerque, NM


Search Nearby Cities


Search Nearby Counties


Search Nearby Postal Codes

The data relating to real estate for sale on this website comes in part from the Internet Data exchange (IDX) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by brokerage firms other than Continental Real Estate Group, Inc, are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. Copyright © 2026 Southwest Multiple Listing Service. All Rights Reserved.

Last Updated: November 10, 2026 at 07:12AM | Source: Southwest MLS (Greater Albuquerque Association of REALTORS) | MLS#: 1105527