Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    631 & 633 Mesilla Street SE Albuquerque, NM 87108

    View on Map
    For Sale
    $840,000

    MULTI_FAMILY - Albuquerque, NM

    Property size:
    5,475 SF
    Lot size:
    0.32 Acres
    Added:
    Jan 23, 2026
    Days on Market:
    68
    Last Refresh:
    Apr 1 at 7:06 pm

    Property Features for 631 & 633 Mesilla Street SE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    8
    Bathrooms
    8
    Rooms
    Bathroom 8, Bedroom 4, Bathroom 3, Bedroom 7, Bedroom 6, Bathroom 6, Bathroom 1, Bedroom 5, Bathroom 2, Bathroom 5, Bathroom 7, Bedroom 1, Bathroom 4, Bedroom 8, Bedroom 2, Bedroom 3
    Parking
    8
    Patio and Porch features
    Patio
    Exterior features
    Landscaping, Lighting, Patio
    Appliances
    FreeStandingGasRange, Refrigerator
    Standard status
    Active
    APN
    101905608736620308
    Size
    5,475 SF
    Lot size
    0.32 Acres

    Taxes and HOA fees

    TaxAnnualAmount
    3388

    Utilities

    Heating system
    Forced Air, Central

    Building Details

    Year built
    1971
    Floors in Building
    1
    Number of units
    8
    Flooring type
    Carpet, Laminate
    Building materials
    Block

    We can help!

    Listing Contact
    Joseph E Maez
    Joseph E Maez

    Listing agent Joseph E Maez License #17921

    Listing office The Maez Group 7008 4th St NW Ste A Avenida Las Campanas NW, Albuquerque, NM

    Listing date Jan 23, 2026

    MLS# 1097226

    Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Albuquerque Multifamily Investment Opportunity

    Located in Albuquerque, the property at 631 & 633 Mesilla Street SE features 8 units, each with 1 bedroom and 1 bathroom. The property is well-maintained and offers a multifamily investment opportunity. The building has a total area of 5475 square feet and is situated on a 0.32-acre lot. The property experiences strong and consistent rental demand. Its location provides close proximity to restaurants, shopping, and freeway access. All units are currently occupied, offering durable income for investors seeking a manageable-size multifamily asset.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.565729
    Latitude
    35.068175

    Nearby Similar for Sale

    • $850,000

      Albuquerque Commercial Live/Work Space

      Versatile commercial property with live/work setup and climate-controlled warehouse.
      8612 PASEO ALAMEDA NE unit: B, Albuquerque, NM 87113
      View Details
    • $400,000

      Commercial Property in North Valley

      Versatile commercial property in Albuquerque's North Valley with two spaces.
      9807 4th Street NW, Albuquerque, NM 87114
      View Details
    • $679,000

      Turn Key Restaurant on Route 66

      Freestanding restaurant building on a heavily trafficked commercial corridor.
      5801 Central Avenue NE, Albuquerque, NM 87108
      View Details
    • $580,000

      Industrial Property with Inspection Pit

      Centrally located industrial property with fenced yard and inspection pit.
      1907 8th Street NW, Albuquerque, NM 87102
      View Details
    • $800,000

      NNN Investment in Albuquerque, NM

      Stabilized NNN investment property with 8.25% cap rate.
      1520 Lomas Boulevard NW, Albuquerque, NM 87104
      View Details
    • $641,829
      4,194 SF

      Albuquerque Fourplex with Laundry

      Fourplex with two-bedroom units and in-unit laundry.
      3609 Wellesley Drive NE, Albuquerque, NM 87107
      View Details
    • $385,000
      3,040 SF

      Albuquerque Multifamily Investment Opportunity

      Four-unit property near shopping, Kirtland AFB, and UNM.
      517 Palomas Drive SE, Albuquerque, NM 87108
      View Details
    • $545,000
      2,175 SF

      Albuquerque Multifamily Investment Opportunity

      Updated multifamily property in Albuquerque's desirable neighborhood.
      403 Columbia Drive SE, Albuquerque, NM 87106
      View Details
    • $530,000
      3,135 SF

      Downtown Albuquerque Fourplex For Sale

      Fourplex near downtown Albuquerque restaurants, shops, and cultural amenities.
      907 Coal Avenue SW, Albuquerque, NM 87102
      View Details
    • $565,000
      3,191 SF

      Turnkey 6-Plex in Albuquerque

      Fully occupied 6-plex with low vacancy and high demand.
      426 Towner Avenue NW, Albuquerque, NM 87102
      View Details
    • $1,450,000
      4,499 SF

      Turnkey Assisted Living Facility

      Assisted living facility in Albuquerque Country Club area.
      1711 Park Avenue SW, Albuquerque, NM 87104
      View Details
    • $250,000

      Turnkey Retail Dispensary in Nob Hill

      Move-in ready retail space in Albuquerque's high-visibility Nob Hill district.
      629 Amherst Drive NE, Albuquerque, NM 87106
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained 8-unit property with strong rental demand in Albuquerque.
    Where is this apartment building located?
    The property is located at 631 & 633 Mesilla Street SE Albuquerque, NM.
    What is the asking price?
    The asking price for this property is $840,000.
    What are key features of this property?
    This property features: Strong and consistent rental demand; Well‑maintained property with 8 units; Excellent investment opportunity for durable income
    (505) 515-1719
    We can help!
    Listing Contact
    Joseph E Maez
    Joseph E Maez
    Real Estate License ID: 17921
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!