615 Iron Avenue SW, Albuquerque, NM 87102

New Listing
$1,500,000
Property Type: Residential Income Square Footage: 6,574 Lot Size (sq. ft.): 7,100 Status: Active
Current Price: $1,500,000 List Date: 5/05/2026 Last Modified: 5/05/2026

Overview

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

Listing Details MLS# 1102929

Contract Information

List Price/SqFt
228.17

Location

Street #
615
Street Name
Iron
St Suffix
Avenue
Post Direction
SW
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87102
Zip +4
4573
MLS Area Major
80 - Downtown Area
Zone Atlas
K14

CityCounty Data

Subdivision Name
Block X Atlantic And Pacific Add

General Property Description

# of Units
6
5+ Units
Yes
Units for Sale
6
Property Sub-Type
Multi-Family
Living Area
6574
SqFt Source
Floorplan
Lot Size Source
On-Line
Acres
0.16
Lot SqFt
7100
Directions
South on 8th St. from Central, East on Iron to property.
Stories
3
Total Stories in Bldg
3
Total # of Buildings
Yes
Year Built
2023
Year Built Exception
Under Construction
Age
Select One
Accessory Dwelling Unit
No
Disability Access
Unknown
LBP Disclosure
No
Builder
Sierra Hacienda Builders
Owner Occupant Unit
No
Flood Zone
X

Cooling

Centrally Ducted
No
Ductless
Yes
Refrigerated
Yes

Sales Info

Trade/Xch Considered
No

More Information

# of Unit Types (1)

# of Units
Yes
# of Bedrooms
2
# Baths
2
Approx. SqFt
965
Actual Rent
2200
Max Rent
2200
Market Rent
2200

# of Unit Types (2)

# of Units
Yes
# of Bedrooms
2
# Baths
2
Approx. SqFt
835
Actual Rent
2200
Max Rent
2200
Market Rent
2000

# of Unit Types (3)

# of Units
Yes
# of Bedrooms
2
# Baths
2
Approx. SqFt
823
Actual Rent
2200
Max Rent
2200
Market Rent
2200

# of Unit Types (4)

# of Units
Yes
# of Bedrooms
2
# Baths
2
Approx. SqFt
965
Actual Rent
2200
Max Rent
2200
Market Rent
2200

# of Unit Types (5)

# of Units
Yes
# of Bedrooms
2
# Baths
2
Approx. SqFt
835
Actual Rent
2200
Max Rent
2200
Market Rent
2100

# of Unit Types (6)

# of Units
Yes
# of Bedrooms
2
# Baths
2
Approx. SqFt
965
Actual Rent
2200
Max Rent
2200
Market Rent
2200

Unit Summary

Total Units
6
Average Unit Size
898
Average Actual Rent
2200
Annualized
158400
Total Actual Rent
13200

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101405705927520204

Tax & Legal Info

GRT Code
02-100
Tax Exemption
Unknown
Tax Annual Amount
35241.27

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

Balconies/Deck
Yes

Flooring

Carpet
Yes
Concrete
Yes
Tile
Yes

Heating

Central
Yes
Electric
Yes
Forced Air
Yes

Owner Pays

Maintenance
Yes

Showing Requirements

Call Listing Agent
Yes

Tenant Pays

Electric
Yes
Gas
Yes
Sewer
Yes
Trash Removal
Yes
Water
Yes

Income & Expenses

Annual Gross Income
144495

Build Description

Resale
Yes

Appliances included

Built-In Gas Range
Yes

Utilities

Electricity Connected
Yes
Natural Gas Connected
Yes
Sewer Connected
Yes
Underground Utilities
Yes
Water Connected
Yes

Green Energy Generation

None
Yes

Electric Provider

Public Utility
Yes

Electric

None
Yes

Miscellaneous Info

All Furnished
Yes

Metering

Individual Electric
Yes
Individual Gas
Yes

Operating Expenses

Insurance
Yes
Property Taxes
Yes

Parking

1 Space Per Unit
Yes

Roof

Metal
Yes
Pitched
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Call Listing Broker
Yes

Source

Owner Provided
Yes

Zoning

R-MH*
Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Balconies/Deck Appliances included: Built-In Gas Range Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Underground Utilities; Water Connected Heating: Central; Forced Air Cooling: Ductless; Refrigerated Flooring: Carpet; Concrete; Tile Green Energy Generation: None Electric Provider: Public Utility Electric: None Miscellaneous Info: All Furnished Metering: Individual Electric; Individual Gas Operating Expenses: Insurance; Property Taxes Owner Pays: Maintenance Tenant Pays: Electric; Gas; Sewer; Trash Removal; Water Parking: 1 Space Per Unit Roof: Metal; Pitched Rental Info: Call Listing Broker Finance Considered: Cash; Conventional Source: Owner Provided Showing Requirements: Call Listing Agent Zoning: R-MH*

Documents

Listing Office: Berkshire Hathaway NM Prop
Last Updated: May - 05 - 2026
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

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