Fairgrounds Homes under $500,000

Welcome to Fairgrounds, a vibrant and charming neighborhood nestled in the heart of Albuquerque, New Mexico. Known for its rich cultural heritage and welcoming community, Fairgrounds offers a unique blend of urban convenience and suburban tranquility. With its proximity to downtown Albuquerque, residents enjoy easy access to a plethora of dining, shopping, and entertainment options, making it an ideal place for families, young professionals, and retirees alike.

One of the standout features of Fairgrounds is its diverse real estate market, particularly the availability of homes priced under $500,000. This makes it an attractive option for first-time homebuyers or those looking to invest in a growing area. The neighborhood boasts a variety of architectural styles, from charming bungalows to modern townhomes, ensuring that there’s something for everyone. Many homes in this price range offer spacious layouts, beautiful outdoor spaces, and the potential for personalization, allowing you to create your dream home.

Living in Fairgrounds means embracing a community that values connection and collaboration. Residents often gather for local events, and the nearby Fairgrounds Park is a popular spot for picnics, sports, and family outings. With a strong sense of community spirit, Fairgrounds is not just a place to live; it’s a place to thrive.

If you’re looking for an affordable home in a dynamic and welcoming neighborhood, Fairgrounds is the perfect place to start your journey. Come explore the possibilities and discover why so many are proud to call this enchanting area home!

Newest Fairgrounds Homes under $500,000

$315,000

8 Beds ⋅ 4 Baths

**SELLER FINANCING OPPORTUNITY AVAILABLE!** Property is being sold as-is, with no repairs to be made by seller **Excellent investment opportunity with this 4-unit multifamily property in Albuquerque! Each unit offers approximately **800 square feet with 2 bedrooms and 1 bathroom**, providing a total of **8 bedrooms and 4 bathrooms** across the property.Previously fully rented for the past several years, this property offers flexibility for the next owner. **Update and improve the units to maximize future rental potential, or prepare them for tenants with minimal turnaround.** The established multifamily configuration makes this a great opportunity for investors looking to add doors to their portfolio.This property is prime for renovation and ready for some TLC as it is being sold as-is condition. Whether you're looking to customize a home to fit your lifestyle, build equity through improvements, or take on your next investment project, there is plenty of potential here. An FHA/Conventional/VA 203(k) renovation loan may also be an option for qualified buyers, subject to lender, property, and program requirements. (Partner lender has program designed for this house as well as incentive to buyer!)With **seller financing available**, buyers may have additional flexibility when structuring their purchase. Whether you're looking for your next value-add project or a multifamily rental opportunity, 508 Tennessee St SE is ready for its next chapter!**Buyer to do own due diligence on sqft and condition as seller never lived at the property and rented it out through another company for length of ownership.

508 Tennessee Street NE, Albuquerque

$319,900

3 Beds ⋅ 2 Baths

Charming from the start, with a kitchen that steals the show! This delightful 3-bedroom, 2-bath Albuquerque home is filled with personality and thoughtful updates. The beautifully remodeled kitchen has quartz countertops, a pot filler, bottle rinser, and stainless-steel appliances that convey. A coordinating built-in bar/butler's pantry in the dining room, complete with a beverage fridge, adds style and functionality. The spacious living room has a brick gas fireplace and opens to the dining room, creating an inviting space with plenty of room for a piano! Fresh interior paint, LVP flooring, and updated bathrooms bring a fresh, modern touch to this charming home. Major improvements include a newer swamp cooler, updated electrical panel, whole-house sewer and water replumbing with insulated PEX water lines, and solar power. Sellers are willing to pay off the approximate $10,000 remaining solar balance with an acceptable offer so the new owner will have free and clear solar power. An oversized 301 SF one-car garage adds extra space, while the large backyard has a pergola, firepit that doubles as a grill, farmhouse-style chicken coop, and gardening shed. Centrally located close to Uptown, Coronado Center, Nob Hill, UNM's medical, pharmacy, nursing, and law schools, and I-40. A wonderful combination of character, comfort, and thoughtful improvements!

1412 Alvarado Drive NE, Albuquerque

$242,000

2 Beds ⋅ 3 Baths

Great triplex with two long-term occupants! Vacant 1 bedroom perfect for an owner occupant or renter! Shaded courtyard entry with off-street parking. Closed storage at rear of property. Do not disturb tenants, walk through of units with accepted offers. Call listing agent with any questions. YTD operating expenses in documents. No wholesalers, no owner financing. Vacant unit is currently on the market for rent and is ready for immediate occupancy. T12 and YTD Income & Expense in MLS docs

304 Texas Street NE, Albuquerque

$435,000

3 Beds ⋅ 2 Baths

Welcome to this charming and move-in-ready home offering a bright, functional layout with fresh finishes throughout. The kitchen features crisp white cabinetry, stainless steel appliances and ample counter space, opening to the main living areas for easy everyday living and entertaining. Beautiful wood flooring adds warmth to the spacious bedrooms and living spaces, while large windows bring in plenty of natural light. A generous enclosed bonus/sunroom provides additional flexible living space with easy access to the backyard. The property also offers a spacious two-car garage, covered patio area and a private backyard with mature landscaping and plenty of potential for outdoor enjoyment. Conveniently located with easy access to everyday amenities, this home offers comfort, functionality and room to make it your own.

421 La Veta Drive NE, Albuquerque

$299,000

6 Beds ⋅ 3 Baths

Get this well-maintained triplex for your investment portfolio. The triplex is in an opportunity zone and a qualified census tract which offer tax and grant opportunities. The TPO roof is only about 9 years old and the units have new windows as well. Each unit has it's own private back patio and there is additional large space on the west side of the complex for parking. The bathrooms and kitchens are refurbished, and there are ceramic tile floors. The tenants pay their own utilities except water and trash paid by the owner. Rents are low so there is an upside possibility. Do not disturb tenants. Offers are subject to buyer review of the units. All square footage is estimated.

511 Texas Street NE, Albuquerque

$425,000

4 Beds ⋅ 3 Baths

This classic and spacious 4BR, 3BA Ranch style home is ideally situated in a pocket Uptown neighborhood. With two distinct living areas and a dual sided wood-burning fireplace, this home offers flexibility for family gatherings, quiet nights in, or hosting guests -- all warmed by that classic, cozy glow.Step outside and you're just blocks from Jerry Cline Park and the Jerry Cline Tennis Center, with walking trails, picnic areas, and courts that make this neighborhood a favorite for outdoor enthusiasts and families alike. Uptown Albuquerque's premier shopping, dining, and entertainment are minutes away, and easy access to major corridors puts Nob Hill, Downtown, and the rest of the city well within reach.This is more than a location -- it's a lifestyle. Mature trees, comfortable homes, and a tight-knit community feel define this pocket of ABQ, all while keeping city conveniences close at hand.This is a home built for real life: room to spread out, a layout that adapts to how you live, and a location that puts the best of ABQ at your doorstep.

1213 San Pablo Street NE, Albuquerque

$420,000

5 Beds ⋅ 3 Baths

4-unit multifamily investment located in a rapidly improving corridor of Albuquerque, benefiting from significant public and private reinvestment. The property offers investors a strong cap rate, attractive cash-on-cash returns, and durable demand from long-term workforce tenants. The surrounding area has seen substantial momentum, including a brand-new public library and park, along with ongoing residential and mixed-use development nearby. These improvements support long-term appreciation while maintaining strong rental demand. Current tenants are stable, long-term residents, providing a solid foundation for consistent income.632 Alcazar is also listed for sale and can be bought together.

630 Alcazar Street SE, Albuquerque

$420,000

3 Beds ⋅ 2 Baths

4-unit multifamily investment located in a rapidly improving corridor of Albuquerque, benefiting from significant public and private reinvestment. The property offers investors a strong cap rate, attractive cash-on-cash returns, and durable demand from long-term workforce tenants. The surrounding area has seen substantial momentum, including a brand-new public library and park, along with ongoing residential and mixed-use development nearby. These improvements support long-term appreciation while maintaining strong rental demand. Current tenants are stable, long-term residents, providing a solid foundation for consistent income.630 Alcazar St SE is also for sale and can be bought together.

632 Alcazar Street SE, Albuquerque

$329,900

6 Beds ⋅ 3 Baths

Welcome home to 428 Rhode Island St. NE, a thoughtfully remodeled triplex in the heart of Albuquerque. These spacious 2-bedroom, 1-bathroom apartments deliver the ideal balance of modern style and everyday functionality. Enjoy sleek tile flooring throughout the main living areas, plush carpeted bedrooms for ultimate comfort, and sturdy security screens on all doors and windows for total peace of mind. Complete with dedicated on-site parking, this property makes effortless living standard.

428 Rhode Island Street NE, Albuquerque

$495,000

4 Beds ⋅ 2 Baths

Beautifully Renovated NE Heights Charmer -- Move-In Ready!Come see this beautifully renovated home in the desirable NE Heights of Albuquerque, where Southwest charm meets modern luxury. Thoughtfully remodeled with high-end finishes throughout, this turn-key home is ready for you to move in and enjoy!The stunning kitchen features custom cabinetry, granite countertops with a waterfall edge, and updated appliances, including a new oven and microwave, plus a newer refrigerator, dishwasher, washer, and dryer.Both bathrooms have been completely renovated with custom tile and stylish modern finishes. Throughout the home, you'll find new energy-efficient windows and doors, LVP flooring, modern fixtures, and recessed lighting, creating a clean, contemporary feel while maintaining the home's charm.Additional updates include a new water heater, two A/C units approximately three years old, a well-maintained heating system, and a newly epoxy-coated garage floor.Step outside to beautifully maintained landscaping. The front yard is xeriscaped with bubblers, while the backyard features working bubblers and sprinklers, mature shrubbery, a shed, and designated spaces for entertaining, relaxing, or enjoying the outdoors.Conveniently located near restaurants, shopping, and everything the NE Heights has to offer, this home delivers the perfect combination of style, comfort, and location.Beautifully remodeled. Thoughtfully upgraded. Completely move-in ready. This one won't last long!

7709 Summer Avenue NE, Albuquerque

$255,000

2 Beds ⋅ 1 Baths

Major fixer-upper opportunity. The property is in poor condition and cited as substandard with the city not safe to enter. The property will require extensive repairs and updates throughout, including but not limited to roof, plumbing, flooring, paint, and water damage remediation. Not move-in ready. Property is being sold as-is, with no repairs by seller.

336 Rhode Island Street NE, Albuquerque

$199,000

2 Beds ⋅ 1 Baths

Come see this fully gated, competitively priced home offering incredible value and versatility. Featuring a detached casita, this property provides the perfect opportunity to generate rental income to help offset your mortgage or create a cash-flowing investment. The solar will be paid off at close and helps keep utility costs low. Out back, you'll find an additional storage/workshop building offering even more potential. Whether you're an investor or a homebuyer looking for extra space and income potential, this property has features that are hard to find. Don't miss this opportunity. it won't last long!Property is zoned R-ML with potentiial to convert the storage to another unit.

416 Vermont Street NE, Albuquerque

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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-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.