6-Unit Apartment
For Sale
$444,272
616 & 618 Mesilla St, Albuquerque, NM 87108
Multifamily property with studio and two-bedroom residences, including units supported by housing voucher programs.
Property Size2,218 SF
Price / SF$200.30
Days on Market160
Property Features for 616 & 618 Mesilla St
General Information
Standard status
Active
Size
2,218 SF
Property subtype
Residential Income
Site & Location
Neighborhood
Tva
Additional Details
Cap Rate
8.74%
Multifamily Units
6
Building Details
Year Built
1946
Listing Agency:
Trinity Apartment Company LLC
Listed By:
Trey W. Whaley · License #20250899
(505) 622-3240
Source:
Albuquerquehomefinders
Added: May 20
Changed: Oct 19
Last Checked: Oct 24 at 5:46PM
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 Trinity Apartment Company LLC
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Investment Insights
Based on property information with market context.
This six-unit apartment property includes a mix of studio/1-bath and 2-bedroom/1-bath residences. The unit configuration provides different housing formats within one multifamily asset, while a significant portion of the tenant base participates in housing voucher programs.
Located at 616 & 618 Mesilla Street SE in Albuquerque, New Mexico, the property is positioned within the city’s workforce housing sector. Operations reflect an 8.74% cap rate, and the asset has been maintained by a local owner involved in management and upkeep. The property is offered for sale as a multifamily investment.
Located at 616 & 618 Mesilla Street SE in Albuquerque, New Mexico, the property is positioned within the city’s workforce housing sector. Operations reflect an 8.74% cap rate, and the asset has been maintained by a local owner involved in management and upkeep. The property is offered for sale as a multifamily investment.
Key Highlights
- Six‑unit apartment property at 616 & 618 Mesilla Street SE
- Unit mix includes studios with 1 bath and 2‑bedroom units with 1 bath
- A significant portion of tenants is supported by housing voucher programs
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,735
Cap Rate
4.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$374,700
$374.7K
Cap Rate 7%
$267,643
$267.6K
Cap Rate 9%
$208,167
$208.2K
Market Conditions
NOI Build-Up for 2,218 SF
Gross rent
$35.9K $16.20/SF
− Vacancy
−$1.9K −$0.84/SF
EGI
$34.1K $15.36/SF
− OpEx
−$15.3K −$6.91/SF
NOI
$18.7K $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%
$374,700
Cap Rate 7%
$267,643
Cap Rate 9%
$208,167
Alternative Uses
Best Use
Apartment 5plus
$267.6K
$234.2K – $312.3K
NOI $18,735 @ 7.0% cap · market cap 4.22%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$536.6K
$469.5K – $626.0K
NOI $37,560 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
685
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily property with studio and two-bedroom residences, including units supported by housing voucher programs.
Where is this apartment building located?
The property is located at 616 & 618 Mesilla St Albuquerque, NM.
What is the asking price?
The asking price for this property is $444,272.
What are key features of this property?
This property features: Six‑unit apartment property at 616 & 618 Mesilla Street SE; Unit mix includes studios with 1 bath and 2‑bedroom units with 1 bath; A significant portion of tenants is supported by housing voucher programs
