Renovated 6-Unit Apartment
For Sale
$535,000
525 Mesilla Street Se 1-6, Albuquerque, NM 87108
Fully occupied multifamily property with updated interiors, modern kitchens, and centralized gas tankless water heating.
Property Size3,300 SF
Price / SF$162.12
Days on Market71
Property Features for 525 Mesilla Street Se 1-6
General Information
Standard status
Active
Size
3,300 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Cap Rate
7.6%
Building Details
Year Built
1950
Listing Agency:
LPT Realty
Listed By:
Casa ABQ
(505) 710-6918
Source:
Thesouthwestlife
Added: Jul 29
Changed: Sep 4
Last Checked: Oct 5 at 9:39PM
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 6-unit apartment property contains six one-bedroom, one-bath residences within 3,300 square feet. The building has undergone professional renovation, with refreshed kitchens, tiled shower surrounds, LVT flooring, and updated finishes across the units. Built in 1950, the asset also benefits from recent mechanical improvements and commercial-grade centralized gas tankless water heaters.
All units are occupied, providing an in-place operating history and approximately 7.6% cap rate at the current list price. The property is located at 525 Mesilla St SE in Albuquerque, New Mexico, and showings are available by appointment to minimize disruption to residents.
All units are occupied, providing an in-place operating history and approximately 7.6% cap rate at the current list price. The property is located at 525 Mesilla St SE in Albuquerque, New Mexico, and showings are available by appointment to minimize disruption to residents.
Key Highlights
- Six occupied 1BR/1BA apartment units
- 3,300‑square‑foot multifamily property built in 1950
- Professionally renovated interiors with modern kitchens and tiled showers
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
715
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
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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 updated interiors, modern kitchens, and centralized gas tankless water heating.
Where is this apartment building located?
The property is located at 525 Mesilla Street Se 1-6 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 occupied 1BR/1BA apartment units; 3,300‑square‑foot multifamily property built in 1950; Professionally renovated interiors with modern kitchens and tiled showers
