6-Unit Apartment
For Sale
$535,000
525 Mesilla Street SE #1-6, Albuquerque, NM 87108
Six one-bedroom, one-bath residences feature updated kitchens, tiled showers, and LVT flooring.
Property Size3,300 SF
Price / SF$162.12
Days on Market91
Property Features for 525 Mesilla Street SE #1-6
General Information
Standard status
Active
Size
3,300 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R-ML*
Occupancy
100%
Site & Location
Neighborhood
Tva
Units
Unit Mix
6 x 1BR/1BA
Multifamily Units
6
Additional Details
Cap Rate
7.6%
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$2,255
Building Details
Building Size
3,300 SF
Year Built
1950
Buildings
2
Stories
1
Units
6
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Casa ABQ
(505) 710-6918
Source:
Goldenshieldsrealty
Added: Jul 27
Changed: Oct 24
Last Checked: Oct 24 at 3:39PM
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 LPT Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
At 525 Mesilla Street SE in Albuquerque, this 3,300-square-foot apartment building contains six one-bedroom, one-bath units. Built in 1950, the property has undergone renovations that include updated kitchens, tiled showers, LVT flooring, and new mechanical systems. A commercial-grade centralized gas tankless water-heating system serves the building.
All six units are occupied. The property is zoned R-ML*, and the stated cap rate is approximately 7.6%.
All six units are occupied. The property is zoned R-ML*, and the stated cap rate is approximately 7.6%.
Key Highlights
- Six units, each configured with one bedroom and one bathroom
- 3,300 square feet; built in 1950
- Renovations include updated kitchens, tiled showers, and LVT flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,874
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
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
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 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 5.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$798.3K
$698.6K – $931.4K
NOI $55,884 @ 7.0% cap · market cap 10.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom, one-bath residences feature updated kitchens, tiled showers, and LVT flooring.
Where is this apartment building located?
The property is located at 525 Mesilla Street SE #1-6 Albuquerque, NM.
What is the asking price?
The asking price for this property is $535,000.
What are key features of this property?
This property features: Six units, each configured with one bedroom and one bathroom; 3,300 square feet; built in 1950; Renovations include updated kitchens, tiled showers, and LVT flooring
