Four-Unit Apartment
For Sale
$430,000
1-4-510 Mesilla Street Se, Albuquerque, NM 87108
Four separate apartments offer private patios, designated parking, and individual heating and cooling systems.
Property Size2,700 SF
Price / SF$159.26
Days on Market58
Property Features for 1-4-510 Mesilla Street Se
General Information
Standard status
Active
Size
2,700 SF
Total Parking Spaces
4
Property subtype
Residential Income
Property Condition
Severity
Repairs Needed
Evidence
The units have not had recent updates
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Parking per Unit
1
Taxes and HOA fees
Annual Taxes
$4,409
Amenities
private patio
Listing Agency:
Realty One of New Mexico
(505) 883-9400
Listed By:
Tyler Matthew Swinson · License #53973
(505) 553-0611
Source:
Exprealty
Added: Aug 27
Changed: Oct 7
Last Checked: Oct 20 at 11:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty One of New Mexico
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Investment Insights
Based on property information with market context.
This 2,700-square-foot quadplex contains four separate apartments, each with two bedrooms, one bathroom, a practical layout, and a private patio. Every unit has one designated parking space, providing four spaces across the property. Heating is supplied by wall-mounted units, while rooftop swamp coolers provide cooling. There is no on-site laundry facility.
The roof has been serviced recently, although its age is not known. The apartments have not undergone recent updates, leaving the interiors positioned for modernization. Located at 1-4-510 Mesilla Street SE in Albuquerque, New Mexico, the property offers a four-unit configuration with separate residential spaces and existing outdoor amenities.
The roof has been serviced recently, although its age is not known. The apartments have not undergone recent updates, leaving the interiors positioned for modernization. Located at 1-4-510 Mesilla Street SE in Albuquerque, New Mexico, the property offers a four-unit configuration with separate residential spaces and existing outdoor amenities.
Key Highlights
- Four 2‑bedroom, 1‑bath apartments
- 2,700‑square‑foot quadplex at 1‑4‑510 Mesilla Street SE
- Private patio for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,647
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,940
$492.9K
Cap Rate 7%
$352,100
$352.1K
Cap Rate 9%
$273,856
$273.9K
Market Conditions
NOI Build-Up for 2,700 SF
Gross rent
$37.3K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$35.2K $13.04/SF
− OpEx
−$10.6K −$3.91/SF
NOI
$24.6K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$492,940
Cap Rate 7%
$352,100
Cap Rate 9%
$273,856
Alternative Uses
Best Use
Multifamily LT 5
$352.1K
$308.1K – $410.8K
NOI $24,647 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$325.8K
$285.1K – $380.1K
NOI $22,806 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
776
Businesses Nearby
Explore this area
Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four separate apartments offer private patios, designated parking, and individual heating and cooling systems.
Where is this quadplex located?
The property is located at 1-4-510 Mesilla Street Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath apartments; 2,700‑square‑foot quadplex at 1‑4‑510 Mesilla Street SE; Private patio for each unit
