Renovated 6-Unit Apartment
For Sale
$535,000
1-6-525 Mesilla St Se, Albuquerque, NM 87108
Fully occupied multifamily property with refreshed interiors, modernized systems, and centralized gas tankless water heating.
Property Size3,300 SF
Price / SF$162.12
Days on Market73
Property Features for 1-6-525 Mesilla St Se
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Cap Rate
7.6%
Taxes and HOA fees
Annual Taxes
$2,255
Building Details
Buildings
1
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Casa ABQ
(505) 710-6918
Source:
Exprealty
Added: Jul 27
Changed: Sep 7
Last Checked: Oct 5 at 11:08PM
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 LPT Realty
Investment Insights
Based on property information with market context.
This 3,300-square-foot apartment property contains six renovated one-bedroom, one-bathroom units and is fully occupied. Interior improvements include updated kitchens, tiled shower surrounds, LVT flooring, and new finish materials throughout. The building also benefits from recently replaced mechanical systems and commercial-grade centralized gas tankless water heaters.
Located at 1-6-525 Mesilla St SE in Albuquerque, NM, the property offers an in-place 7.6% cap rate and established rental history. Its six-unit configuration, recent capital work, and current occupancy provide a clearly defined multifamily asset with income already in place.
Located at 1-6-525 Mesilla St SE in Albuquerque, NM, the property offers an in-place 7.6% cap rate and established rental history. Its six-unit configuration, recent capital work, and current occupancy provide a clearly defined multifamily asset with income already in place.
Key Highlights
- Six fully occupied 1BR/1BA apartment units
- 3,300 SF multifamily property at 1‑6‑525 Mesilla St SE
- Updated kitchens, tiled showers, LVT flooring, and fresh finishes
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,874
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,480
$557.5K
Cap Rate 7%
$398,200
$398.2K
Cap Rate 9%
$309,711
$309.7K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$53.5K $16.20/SF
− Vacancy
−$2.8K −$0.84/SF
EGI
$50.7K $15.36/SF
− OpEx
−$22.8K −$6.91/SF
NOI
$27.9K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$557,480
Cap Rate 7%
$398,200
Cap Rate 9%
$309,711
Alternative Uses
Best Use
Apartment 5plus
$398.2K
$348.4K – $464.6K
NOI $27,874 @ 7.0% cap · market cap 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.3K
$698.6K – $931.4K
NOI $55,884 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
100%
Occupancy
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied multifamily property with refreshed interiors, modernized systems, and centralized gas tankless water heating.
Where is this apartment building located?
The property is located at 1-6-525 Mesilla St Se Albuquerque, NM.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Six fully occupied 1BR/1BA apartment units; 3,300 SF multifamily property at 1‑6‑525 Mesilla St SE; Updated kitchens, tiled showers, LVT flooring, and fresh finishes
