Near South Valley Homes under $500,000

Welcome to the enchanting Near South Valley, a hidden gem nestled within Albuquerque, New Mexico, in the heart of Bernalillo County. This vibrant community is known for its rich cultural heritage, stunning landscapes, and a warm, welcoming atmosphere that makes it an ideal place to call home.

The Near South Valley is characterized by its unique blend of traditional and modern living, where charming adobe-style homes coexist with contemporary designs. Here, you’ll find an array of properties priced under $500,000, making it an attractive option for first-time buyers, families, and investors alike. These homes offer a perfect canvas for your personal touch, with many featuring spacious yards, inviting interiors, and easy access to local amenities.

Living in the Near South Valley means embracing a lifestyle filled with outdoor adventures and community spirit. The area is surrounded by lush parks and scenic trails, perfect for hiking, biking, or leisurely strolls. The nearby Rio Grande offers opportunities for fishing and picnicking, while vibrant local markets and eateries showcase the rich flavors of New Mexican cuisine.

For those who appreciate art and culture, the Near South Valley is just a short drive from Albuquerque’s bustling downtown, where you can explore galleries, museums, and live music venues. With its friendly neighborhoods and diverse community, the Near South Valley is not just a place to live; it’s a place to thrive.

Discover your dream home in the Near South Valley today and experience all the charm and opportunity this remarkable area has to offer!

Newest Near South Valley Homes under $500,000

$284,900

2 Beds ⋅ 1 Baths

Welcome to your beautifully updated oasis at 914 Gatewood Avenue Southwest! This charming 2-bedroom, 1-bathroom home has been remodeled seamlessly blending modern conveniences with quaint, cozy appeal.Step inside to discover a bright, open interior featuring contemporary finishes, fresh paint, and thoughtful updates throughout. The heart of the home is designed for both comfort and functionality, making it completely turn-key and ready for you to move right in. Peace of mind comes naturally here, thanks to a durable, low-maintenance metal roof that adds both character and long-lasting protection.Situated on a generous 0.23-acre lot, the property offers an abundance of outdoor space. Whether you dream of creating an urban garden, setting up an entertainment area, or simply enjoying the room to breathe, this expansive yard provides endless possibilities. Don't miss your chance to own this renovated gem--schedule your tour today!

914 Gatewood Avenue SW, Albuquerque

$249,900

2 Beds ⋅ 2 Baths

Welcome to this bright and charming home featuring elegant arches, a beautiful layout, and inviting living spaces. Fresh interior paint and beautiful new flooring throughout create a clean, refreshed feel. The kitchen is ready for all your cooking adventures with brand-new granite countertops, a stylish tile backsplash, and new stainless-steel appliances. Step outside to a spacious yard with plenty of room for toys, entertaining, gardening, or simply enjoying the outdoors. Conveniently located near restaurants, shopping, and everyday amenities, this home offers the perfect blend of comfort, style, and convenience. Charming, beautifully updated, and ready for its next owner. Don't miss the opportunity to make it yours!

3129 Mares Road SW, Albuquerque

$265,000

2 Beds ⋅ 2 Baths

The kind of home that makes you want to stay awhile! A newer roof, upgraded electrical, new appliances, and beautifully remodeled kitchen and bathrooms make this home feel fresh and ready for its next chapter. The oversized primary bedroom gives you room to truly spread out, while the long driveway offers plenty of parking. Outside, two sheds provide bonus space for storage, hobbies, or projects. With thoughtful updates and plenty of personality, this home is ready to welcome you in!

2327 William Street SE, Albuquerque

$349,900

3 Beds ⋅ 2 Baths

Open House Saturday 10/3 1-3pm. South Valley home on .63 acre with mature landscaping, a water feature, koi pond, gated entry, and detached 2-car garage. The well-kept grounds create a distinctive outdoor setting with room to enjoy and personalize. Convenient to Central Ave, I-40, the Rio Grande, Old Town, Downtown, and the ABQ BioPark. Valle del Bosque Park is approximately 0.6 mi away. Additional upgrades are detailed in the seller's improvement list.

406 Atrisco Drive SW, Albuquerque

$345,000

5 Beds ⋅ 4 Baths

Solid income opportunity in Albuquerque's South Valley. This well-maintained triplex offers three separate units (515 / 620 / 1,250 sq ft) with private entries and flexible floor plans. Total living area of approximately 2,385 sq ft on a practical lot. Ideal for investors or owner-occupants seeking cash flow and long-term value. *Please do not disturb tenants*

2215 Hooper Road SW, Albuquerque

$235,000

2 Beds ⋅ 1 Baths

2024 ROOF + 2021 REFRIGERATED A/C & FURNACE + WATER SOFTENER! Big possibilities await inside and out of this single-story home, offering two bedrooms, a full bath, and a separate bonus room perfect for a home office, hobbies, or an additional sitting area. Natural light fills the living room, while the bright, inviting kitchen features white cabinetry, beautiful countertops, and sleek flooring. Outside, enjoy a generous backyard with mature trees, an open patio, and a storage shed, with plenty of room to gather, garden, or create your own outdoor retreat. A gated front yard and covered porch add to the charm.

117 Clifton Avenue SE, Albuquerque

$230,000

2 Beds ⋅ 1 Baths

Updated 2-bedroom, 1-bathroom home on a 0.16-acre lot! Recent improvements include new flooring, fresh paint, and upgrades to the kitchen and bathroom. The property also offers exciting future potential with plumbing located along the east side of the lot and convenient alley access. The additional space may provide opportunities for future development.Located in a central Albuquerque area with convenient access to Downtown Albuquerque, the historic Rail Yards, UNM, and major healthcare facilities.The location is also convenient to major medical and educational centers, including UNM Hospital, Presbyterian Hospital, and Lovelace Medical Center in the surrounding area.A great opportunity for a homeowner or investor looking for an updated property with room to grow, convenient access to employment and amenities, and potential for future use of the additional lot space.Located in a central Albuquerque area with convenient access to Downtown Albuquerque, the historic Rail Yards, UNM, and major healthcare facilities.The location is also convenient to major medical and educational centers, including UNM Hospital, Presbyterian Hospital, and Lovelace Medical Center in the surrounding area.A great opportunity for a homeowner or investor looking for an updated property with room to grow, convenient access to employment and amenities, and potential for future use of the additional lot space.

2024 Walter Street SE, Albuquerque

$249,000

4 Beds ⋅ 2 Baths

Welcome to your new home in Albuquerque's South Valley! Sitting on nearly half an acre, this 4-bedroom, 2-bath property offers approximately 1,864 sqft and a tremendous opportunity for the buyer ready to bring their vision to life. The property also features a massive detached outbuilding/shop with power, providing substantial space for a workshop, storage, equipment, or a variety of other uses. With approximately 0.46 acres, there is plenty of room to work with and the kind of space. Conveniently located in the South Valley with access to the Rio Grande and Bosque recreation areas, this property combines location, land, and potential. Property is being sold AS-IS and will require repairs and updating. Whether you're an investor, contractor, or buyer looking for a property you can make your own, 2118 Castanada offers a unique canvas with serious upside. Don't hesitate to make this house your Home, today!

2118 Castanada Street SW, Albuquerque

1839 1/2 Broadway Boulevard SE, Albuquerque

$125,000

2 Beds ⋅ 2 Baths

Great opportunity for this fixer-upper situated on a spacious lot. Sold as-is.

1839 1/2 Broadway Boulevard SE, Albuquerque

$340,000

4 Beds ⋅ 2 Baths

Welcome to this charming South Valley home, where character, comfort, privacy, & delightful surprises await around every corner. From the moment you arrive, you'll appreciate the inviting spaces and unique details that make this property feel like home. Step inside and discover a welcoming front porch--the perfect spot to enjoy your morning coffee or unwind with a glass of wine at the end of your day. The spacious living room features a cozy fireplace and bay window, offering plenty of room to gather & make lasting memories with family & friends. Also in the living room is a tiled area for an option to add a wood-burning stove. The primary bedroom is conveniently located next to a versatile bonus room that can easily be used as a sitting room, home office, hobby space, or whatever best suits your lifestyle. The three small bedrooms each feature charming built-in wall niches, adding character and functionality. The roomy kitchen flows into a large dining area, with abundant cabinet space in both rooms. In the dining room is another tiled area for adding a wood burning stove for warmth & added ambiance. Whether you're hosting a holiday gathering or enjoying a casual family meal, there's plenty of room for everyone. Gatherings can easily extend outdoors to the back porch & fully walled private backyard, where there are more areas to relax and entertain. Outdoor living is a highlight of this property, with several covered spaces & inviting patios to enjoy throughout the year. The large lot also offers possibilities in the side yard, conveniently located next to the covered carport and two-car garage. There's ample room for additional parking, recreational vehicles or outdoor sports. And there's even more to discover, including two permanent storage buildings--perfect for keeping tools, hobbies, equipment, & belongings organized. With its generous spaces, charming character, abundant storage, and wonderful outdoor potential, this South Valley home is ready for you to make it your own. Come see it in person and imagine all the memories you'll create in a home you'll love!

1860 Elena Circle SW, Albuquerque

$242,500

3 Beds ⋅ 2 Baths

Refreshed and ready for a new owner, this inviting 3-bedroom, 2-bath home offers comfortable living on a desirable corner lot with a convenient 2-car attached garage and gated backyard access. Recent updates include new shingles on the roof, fresh interior paint, new carpet and vinyl flooring, and a new stainless steel range, range hood, and refrigerator, all installed in August 2026. The permanent foundation has b een inspected and updated and is ready for a lender. Schedule your showing today!

2620 Lucero Road SW, Albuquerque

$364,000

4 Beds ⋅ 2 Baths

This well-maintained 4 bedroom, 2 bathroom home offers exceptional functionality and spaceinside and out. All four bedrooms feature double closets, providing abundant storage -- a rare andvaluable upgrade in this price point.The expansive carport accommodates up to 6 vehicles, making it ideal for multi-vehiclehouseholds, work trucks, or recreational toys. The backyard is fully equipped with a chicken coop, agreat storage shed, and plenty of room to personalize for gardening, hobbies, or outdoor living.Major improvements include a new roof (2022) and water heater (2022), giving buyers peace ofmind and reduced maintenance costs.A solid, versatile property with features that truly stand out -- ready for its next owner.

5607 Alta Vista Court SW, 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.