Four-Unit Quadplex with Private
New
For Sale
$430,000
510 Mesilla Street Se 1-4, Albuquerque, NM 87108
1960-built multifamily property with dedicated parking and individual outdoor areas.
Property Size2,700 SF
Price / SF$159.26
Days on Market4
Property Features for 510 Mesilla Street Se 1-4
General Information
Standard status
Active
Size
2,700 SF
Property subtype
Multi-Family
Building Details
Year Built
1960
Listing Agency:
Realty One of New Mexico
Listed By:
Tyler Matthew Swinson · License #53973
(505) 553-0611
Source:
Thesouthwestlife
Added: Sep 2
Changed: Sep 3
Last Checked: Sep 4 at 9:15AM
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 Realty One of New Mexico
Investment Insights
Based on property information with market context.
Built in 1960, this 2,700-square-foot quadplex contains four separate units, each with two bedrooms, one bathroom, a practical layout, and a private patio. Every unit has one designated parking space, giving the property dedicated resident parking. Heating is provided by wall-mounted heaters, while rooftop swamp coolers support cooling. On-site laundry is not available.
The roof has been serviced recently, although its age is not specified. The units have not undergone recent updates, leaving the interiors positioned for modernization. Located at 510 Mesilla Street SE 1-4 in Albuquerque, New Mexico, the property offers a four-unit configuration with distinct outdoor areas and established residential infrastructure.
The roof has been serviced recently, although its age is not specified. The units have not undergone recent updates, leaving the interiors positioned for modernization. Located at 510 Mesilla Street SE 1-4 in Albuquerque, New Mexico, the property offers a four-unit configuration with distinct outdoor areas and established residential infrastructure.
Key Highlights
- Four‑unit quadplex with four 2‑bedroom, 1‑bath residences
- 2,700 square feet on a 1960‑built property
- Private patio included with each unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,647
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.73%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,940
$492.9K
Cap Rate 7%
$352,100
$352.1K
Cap Rate 9%
$273,856
$273.9K
Market Conditions
NOI Build-Up for 2,700 SF
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.
Gross rent
$37.3K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$35.2K $13.04/SF
− OpEx
−$10.6K −$3.91/SF
NOI
$24.6K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,940
Cap Rate 7%
$352,100
Cap Rate 9%
$273,856
Alternative Uses
Best Use
Multifamily LT 5
$352.1K
$308.1K – $410.8K
NOI $24,647 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$325.8K
$285.1K – $380.1K
NOI $22,806 @ 7.0% cap · market cap 5.30%
Theoretical Best
Office A
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 10.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - 1960-built multifamily property with dedicated parking and individual outdoor areas.
Where is this quadplex located?
The property is located at 510 Mesilla Street Se 1-4 Albuquerque, NM.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Four‑unit quadplex with four 2‑bedroom, 1‑bath residences; 2,700 square feet on a 1960‑built property; Private patio included with each unit
