Renovated 6-Unit Apartment
For Sale
$540,000
525 Mesilla Street SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size3,300 SF
Lot Size0.16 Acres
Price / SF$163.64
Days on Market34
Property Features for 525 Mesilla Street SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-ML*
Bedrooms
1
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 1, Bathroom 1
Parking
2
Security features
Security
Appliances
FreeStandingElectricRange, Refrigerator
Subdivision
Emil Mann Add
Directions
From Louisiana, go East (left) on Trumbull, turn North (left) on Mesilla, the property is on your left.
Standard status
Active
APN
101905608842621206
Size
3,300 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Annual Amount
2256
Utilities
Heating system
Baseboard
Building Details
Year built
1950
Floors in Building
1
Number of units
6
Flooring type
Tile
Building materials
Frame
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Casa ABQ
(505) 710-6918
Added: Jul 27
Changed: Aug 28
Last Checked: Aug 29 at 3:06PM
MLS# 1107989
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 6-unit apartment property contains six 1BR/1BA residences within approximately 3,300 square feet on 0.16 acres. Built in 1950 and substantially updated, the property includes modern kitchens, tiled showers, LVT flooring, fresh interior finishes, freestanding electric ranges, and refrigerators. Frame construction, tile flooring, and baseboard heating are also reported. Recent work includes upgraded mechanical systems and centralized commercial gas tankless water-heating equipment.
The property is fully occupied and located at 525 Mesilla Street SE in Albuquerque, New Mexico 87108. Current performance is reported at an approximately 7.6% cap rate, supported by established rental history. The asset is offered with showings by appointment only, and tenant privacy is requested.
The property is fully occupied and located at 525 Mesilla Street SE in Albuquerque, New Mexico 87108. Current performance is reported at an approximately 7.6% cap rate, supported by established rental history. The asset is offered with showings by appointment only, and tenant privacy is requested.
Key Highlights
- Six fully occupied 1BR/1BA apartment units
- Approximately 3,300 square feet on 0.16 acres
- Approximately 7.6% cap rate at the current list price
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
$27,874
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
5.16%
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%
$557,480
$557.5K
Cap Rate 7%
$398,200
$398.2K
Cap Rate 9%
$309,711
$309.7K
Market Conditions
NOI Build-Up for 3,300 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
$53.5K $16.20/SF
− Vacancy
−$2.8K −$0.84/SF
EGI
$50.7K $15.36/SF
− OpEx
−$22.8K −$6.91/SF
NOI
$27.9K $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 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%
$557,480
Cap Rate 7%
$398,200
Cap Rate 9%
$309,711
Alternative Uses
Best Use
Apartment 5plus
$398.2K
$348.4K – $464.6K
NOI $27,874 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.3K
$698.6K – $931.4K
NOI $55,884 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
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?
Apartment building - Updated one-bedroom residences offer modern kitchens, tiled showers, and refreshed interior finishes.
Where is this apartment building located?
The property is located at 525 Mesilla Street SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Six fully occupied 1BR/1BA apartment units; Approximately 3,300 square feet on 0.16 acres; Approximately 7.6% cap rate at the current list price
