Updated 32-Unit Apartment
433 Mesilla St SE, Albuquerque, NM 87108
For Sale
$2,323,232
Recently renovated multi-family complex with 32 mostly one-bedroom units across two buildings on four parcels.
Property Size14,688 SF
Price / SF$158.17
Days on Market151
Property Features for 433 Mesilla St SE
General Information
Standard status
Size
Property subtype
Zoning
Site & Location
Neighborhood
Additional Details
Multifamily Units
Amenities
Power
Water
Sewer
Natural Gas
Building Details
Year Built
Tenancy
Listing Agency:
Maestas Real Estate Services INC
Listed By:
Anita Maestas · License NM #16029
(505) 463-3565
Source:
Carnm.resimplifi
Added: Jun 17
Changed: Nov 1
Last Checked: Nov 12 at 4:14AM
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 Maestas Real Estate Services INC
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Investment Insights
Based on property information with market context.
This updated 32-unit apartment complex is offered for sale and consists of two buildings spanning four parcels. The property features 32 recently renovated units, most of which are one-bedroom apartments, providing a streamlined mix for residential income tenants.
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.
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
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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Lease Details
32
Residential units
Multi-tenant
Tenancy
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
$227,600
Median Home Value
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Market
Average Price Trend$/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 - Recently renovated multi-family complex with 32 mostly one-bedroom units across two buildings on four parcels.
Where is this apartment building located?
The property is located at 433 Mesilla St 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: 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
