Updated 4-Unit
For Sale
$389,160
512 Mesilla Street SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size2,700 SF
Lot Size0.16 Acres
Price / SF$144.13
Days on Market13
Property Features for 512 Mesilla Street SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-ML*
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 5, Bedroom 7, Bedroom 8, Bedroom 6, Bedroom 2, Bedroom 4, Bathroom 1, Bathroom 4, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 3
Parking
6
Security features
Security
Patio and Porch features
Patio
Exterior features
Lighting, Patio
Appliances
Dryer, FreeStandingGasRange, Refrigerator, Washer
Subdivision
Mann Add
Directions
From Zuni and San Mateo east to Mesilla, south to property.
Standard status
Active
APN
101905610544221316
Size
2,700 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
3891
Amenities
secured courtyard entry
washer/dryers
Building Details
Year built
1960
Floors in Building
1
Number of units
4
Flooring type
Vinyl, Tile, Carpet
Building materials
Frame, Stucco, SyntheticStucco
Listing Agency:
Deacon Property Services
(505) 878-0100
Listed By:
Kyle E Deacon · License #15579
(505) 878-0100
Added: Aug 18
Changed: Aug 20
Last Checked: Aug 30 at 9:06AM
MLS# 1109467
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.
Investment Insights
Based on property information with market context.
This Albuquerque quadplex contains four two-bedroom, one-bathroom residences within approximately 2,700 square feet on a 0.16-acre parcel. Building improvements include replacement windows, synthetic stucco, hard-surface flooring, upgraded lighting and vanities, updated toilets, electrical work, evaporative coolers, and selected mechanical updates. Wrought iron fencing secures the shared courtyard entry. Units are equipped with washers, dryers, refrigerators, and freestanding gas ranges, while flooring includes vinyl, tile, and carpet.
Built in 1960, the property is located at 512 Mesilla Street SE in Albuquerque, NM 87108. Exterior amenities include patio space and site lighting. The source information identifies an 8 Cap for an owner occupant, a 7.2 Cap for an investor using professional property management, and nearly a 10% cash-on-cash return.
Built in 1960, the property is located at 512 Mesilla Street SE in Albuquerque, NM 87108. Exterior amenities include patio space and site lighting. The source information identifies an 8 Cap for an owner occupant, a 7.2 Cap for an investor using professional property management, and nearly a 10% cash-on-cash return.
Key Highlights
- Four two‑bedroom, one‑bathroom units
- Approximately 2,700 square feet on 0.16 acres
- 8 Cap for an owner occupant; 7.2 Cap for an investor with professional property management
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
6.33%
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 6.33%
Second Best
Apartment 5plus
$325.8K
$285.1K – $380.1K
NOI $22,806 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$653.2K
$571.5K – $762.1K
NOI $45,723 @ 7.0% cap · market cap 11.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four updated two-bedroom residences with secured courtyard access and in-unit laundry equipment.
Where is this quadplex located?
The property is located at 512 Mesilla Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $389,160.
What are key features of this property?
This property features: Four two‑bedroom, one‑bathroom units; Approximately 2,700 square feet on 0.16 acres; 8 Cap for an owner occupant; 7.2 Cap for an investor with professional property management
