Fairgrounds Homes under $400,000

Welcome to Fairgrounds, a vibrant neighborhood nestled in the heart of Albuquerque, New Mexico! This charming area is a hidden gem that beautifully combines the rich cultural heritage of the Southwest with the modern conveniences of city living. Known for its welcoming community spirit, Fairgrounds offers residents a unique blend of local attractions, parks, and eateries, making it an ideal place to call home.

One of the standout features of Fairgrounds is its accessibility to a variety of amenities. Just a stone's throw away, you’ll find the iconic New Mexico State Fairgrounds, which hosts a multitude of events throughout the year, including festivals, concerts, and, of course, the annual state fair. The neighborhood is also conveniently located near downtown Albuquerque, where you can explore a plethora of dining options, art galleries, and shops that showcase the vibrant local culture.

For those seeking affordable living without sacrificing comfort, Fairgrounds offers a selection of homes under $400,000. Whether you’re a first-time homebuyer or looking to downsize, you'll find charming properties that reflect the unique architectural style of the region. Many homes in this price range feature spacious layouts, inviting backyards, and easy access to parks and recreational areas, perfect for families and outdoor enthusiasts alike.

With its rich history, community-oriented atmosphere, and affordable housing options, Fairgrounds is an exceptional choice for anyone looking to experience the best of Albuquerque living. Come discover your new home in this delightful neighborhood!

Newest Fairgrounds Homes under $400,000

$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

$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

$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

$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

$338,000

3 Beds ⋅ 2 Baths

Don't miss this move-in-ready gem. At under two hundred dollars per square foot, this three-bedroom, two-bathroom home offers exceptional value. The fully updated kitchen features light wood cabinetry, butcher-block countertops, and a striking blue marble-style backsplash, with stainless steel appliances that all convey with the home. Refinished hardwood floors flow through the main living areas. A cozy family room with a brick fireplace adds warmth. The new refrigerated AC keeps the house comfortable through the hottest days. Outside, the private backyard includes raised garden beds, mature trees, and a storage shed. With a two-car garage and a convenient location near parks, schools, and shopping, this home is ready for its next chapter.

1104 Alcazar Street NE, Albuquerque

$300,000

4 Beds ⋅ 2 Baths

Your new home offers 4 bedrooms and 2 baths with lots of square footage, an open floorplan, and a wooden deck upstairs--deck faces east with great mountain views. Original wood floors on bottom floor. The home has been remodeled featuring a new HVAC system, new appliances, plumbing, gas and electrical upgrades. Check out the new bathroom shower and tub, the new fixtures and sinks! New roof in 2019 and sewer pipe from house to street 2025; a large shed in the back yard. Nice, quiet neighborhood in the fairgrounds area make this home a must see.

412 Grove Street NE, Albuquerque

$315,000

3 Beds ⋅ 2 Baths

This home has so much to offer! Major updates completed in 2023 include a furnace, water heater, evaporative-cooler, roof, windows, kitchen granite countertops, stainless farm sink, cabinets with crown molding, stove, and garbage disposal, providing added peace of mind. Inside, you'll find a carpet-free interior and a comfortable layout ready for you to make your own.The spacious 0.22-acre lot features convenient backyard access, offering plenty of room for RV parking or the potential to build an ADU. It features a huge covered porch! A contemporary style extension was made in 2020 to the cinder block wall, raising the privacy to about 6 ft.' Wrought iron fencing has been added to the front and back yards.Conveniently located near shopping, restaurants, and everyday amenities, this property offers a great combination of updates, space, and flexibility.Seller financing may be considered with 20% down, 6% interest, and a 5-year call.

1009 Dakota Street NE, Albuquerque

$349,900

6 Beds ⋅ 4 Baths

Excellent investment opportunity! This well-maintained 4-plex offers a desirable unit mix with two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units, providing broad rental appeal. Major updates include a TPO roof with transferable warranty, newer fencing, and refreshed stucco surfaces for added curb appeal and peace of mind. Inside, all units feature easy-care flooring with no carpet and all-electric systems for simplified maintenance and repairs. Each unit includes a stove and refrigerator, with select units offering washer hookups for added tenant convenience. A fantastic opportunity to expand your portfolio with a property designed for long-term value and low-maintenance ownership.

211 Texas Street NE, Albuquerque

$325,000

5 Beds ⋅ 4 Baths

4-unit multifamily investment located in a rapidly improving corridor of Northeast Albuquerque, benefiting from significant public and private reinvestment. The property offers investors a high cap rate, strong cash-on-cash returns, and durable demand from long-term workforce tenants.The surrounding neighborhood has seen substantial momentum, including a brand-new public library and park, along with ongoing residential and mixed-use construction nearby. These improvements support long-term appreciation while maintaining strong rental demand.The asset is a C-class, workforce housing property, which historically performs well through market cycles due to affordability, necessity-driven demand, and tenant longevity. Current tenants are stable, long-term residents.

236 San Pablo Street NE, Albuquerque

$399,000

4 Beds ⋅ 4 Baths

Opportunity to Own a Fully Rented 4-Plex! This income-producing property brings in $3,616 in monthly rents across four units. Three of the four units have been updated, and all units are in good condition, offering solid long-term rental appeal. The roof is newer, and property is well maintained. Brand new water line 2025! A great investment for steady cash flow and future upside!

308 Charleston 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.