433 Mesilla SE Albuquerque, NM 87108
Recently renovated multi-family complex with 32 mostly one-bedroom units across two buildings on four parcels.
Property Features for 433 Mesilla SE
General Information
- Standard status
- Active
- Size
- 14,660 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1977
Listing office N.M. Apartments, Inc. (505) 440-8633
Listing date Jun 12, 2026
Source Crexi
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Investment Insights
Based on property information with market context.
The complex is located at 433-437 Mesilla SE in Albuquerque, with walkable access to the Ta-Lin International Marketplace and the Expo NM/State Fair of New Mexico campus. The property is also described as just minutes from one of the main entrances to Sandia National Laboratories and Kirtland Air Force Base.
For investors or operators seeking a turn-key style rental property, the most notable asset here is the scale of 32 renovated units and the predominance of one-bedroom layouts. Its proximity to major employers and area institutions may support tenant convenience for those working in or around Sandia National Laboratories and Kirtland Air Force Base, along with other local destinations identified in the offering remarks. The two-building configuration on four parcels offers straightforward, manageable operation for a multi-family portfolio.
Key Highlights
- 32‑unit apartment complex built in 1977, located at 433–437 Mesilla SE
- Recently renovated units—32 apartments total, most are one‑bedroom layouts
- Two‑building community spanning 4 parcels of land
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $237.5k | $16.20 |
| − Vacancy | −$12.3k | −$0.84 |
| EGI | $225.1k | $15.36 |
| − OpEx | −$101.3k | −$6.91 |
| NOI | $123.8k | $8.45 |
