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.
New construction
$1,600,000
615 Iron Ave SW, Albuquerque, NM 87102
12beds
12baths
6,148sqft
Est.:
Multi Family
Built in ----
-- sqft lot
$-- Zestimate®
$260/sqft
$-- HOA
What's special
Contemporary finishesEfficient layouts
- 1522 days |
- 378 |
- 12 |
Zillow last checked: 8 hours ago
Listing updated: November 25, 2025 at 01:47pm
Listed by:
Thomas Gallegos 505-261-8687,
Berkshire Hathaway NM Prop 505-798-6300
Source: SWMLS,MLS#: 1003217
Tour with a local agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 12
- Bathrooms: 12
Heating
- Central, Electric, Forced Air
Cooling
- Refrigerated
Appliances
- Included: Built-In Gas Oven, Built-In Gas Range
Features
- Flooring: Carpet, Concrete, Tile
- Has basement: No
Interior area
- Total structure area: 6,148
- Total interior livable area: 6,148 sqft
Property
Features
- Levels: Three Or More
- Stories: 3
Lot
- Size: 6,969.6 Square Feet
Details
- Parcel number: 101405705927520204
- Zoning description: R-MH*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame, Stucco
Condition
- To Be Built
- New construction: Yes
Details
- Builder name: Sierra Hacienda Builders
Utilities & green energy
- Electric: None
- Utilities for property: Natural Gas Connected
Green energy
- Energy generation: None
Community & HOA
Community
- Features: Deck/Porch
Location
- Region: Albuquerque
Financial & listing details
- Price per square foot: $260/sqft
- Tax assessed value: $28,200
- Annual tax amount: $587
- Date on market: 10/20/2021
- Cumulative days on market: 1494 days
- Listing terms: Cash,Conventional
- Tenant pays: Electricity, Gas, Sewer, Trash Collection, Water
Estimated market value
Not available
Estimated sales range
Not available
$2,890/mo
Price history
Price history
| Date | Event | Price |
|---|---|---|
| 7/19/2024 | Price change | $1,600,000-5.9%$260/sqft |
Source:  SWMLS #1003217 Report a problem | ||
| 6/20/2024 | Pending sale | $1,700,000$277/sqft |
Source: SWMLS #1003217 Report a problem | ||
| 6/11/2024 | Price change | $1,700,000-5.6%$277/sqft |
Source: SWMLS #1003217 Report a problem | ||
| 8/7/2022 | Price change | $1,800,000-10%$293/sqft |
Source: SWMLS #1003217 Report a problem | ||
| 10/20/2021 | Listed for sale | $2,000,000+830.2%$325/sqft |
Source: SWMLS #1003217 Report a problem | ||
Public tax history
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2017 | $448 -49.8% | $9,399 -55.1% |
| 2016 | $893 -95.6% | $20,944 +3% |
| 2015 | $20,335 +1462.5% | $20,335 +3% |
Find assessor info on the county website
BuyAbility℠ payment
Est. payment
$9,488/mo
Principal & interest
$7835
Property taxes
$1093
Home insurance
$560
Climate risks
Neighborhood: Barelas
Nearby schools
GreatSchools rating
- 6/10Dolores Gonzales Elementary SchoolGrades: PK-5Distance: 0.3 mi
- 4/10Washington Middle SchoolGrades: 6-8Distance: 0.5 mi
- 3/10Albuquerque High SchoolGrades: 9-12Distance: 1.6 mi
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