Apartment
433 Mesilla & 437 4 lots Street SE, Albuquerque, NM 87108
For Sale
$2,323,232
Residential Income, Albuquerque, NM
Property Size14,688 SF
Lot Size0.60 Acres
Price / SF$158.17
Days on Market155
Property Features for 433 Mesilla & 437 4 lots Street SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License NM #13711
(505) 440-8633
Added: Jun 13
Changed: Nov 12
Last Checked: Nov 14 at 12:06AM
MLS# 1105475
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.
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Investment Insights
Based on property information with market context.
The apartment property contains 14,688 square feet and was built in 1979. It occupies 0.6 acres across four lots at 433 Mesilla and 437 Street SE in Albuquerque, New Mexico.
Reported operating metrics include a 6.33% cap rate and an 8.02 GRM.
Reported operating metrics include a 6.33% cap rate and an 8.02 GRM.
Key Highlights
- 14,688‑square‑foot apartment property
- 0.6‑acre site across four lots
- Built in 1979
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$124,065
Cap Rate
5.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,481,300
$2.5M
Cap Rate 7%
$1,772,357
$1.8M
Cap Rate 9%
$1,378,500
$1.4M
Market Conditions
NOI Build-Up for 14,688 SF
Gross rent
$237.9K $16.20/SF
− Vacancy
−$12.4K −$0.84/SF
EGI
$225.6K $15.36/SF
− OpEx
−$101.5K −$6.91/SF
NOI
$124.1K $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%
$2,481,300
Cap Rate 7%
$1,772,357
Cap Rate 9%
$1,378,500
Alternative Uses
Best Use
Apartment 5plus
$1.77M
$1.55M – $2.07M
NOI $124,065 @ 7.0% cap · market cap 5.34%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.55M
$3.11M – $4.15M
NOI $248,732 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
715
Businesses Nearby
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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
$227,600
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Albuquerque, NM
Properties on Market for Apartment buildings in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property spans four lots and is zoned R-MH* for residential use.
Where is this apartment building located?
The property is located at 433 Mesilla & 437 4 lots Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $2,323,232.
What are key features of this property?
This property features: 14,688‑square‑foot apartment property; 0.6‑acre site across four lots; Built in 1979
