609-641 Mesilla Street SE, Albuquerque, NM 87108
- $4,989,000
- 3
- BD
- 3
- BA
- List Price
- $4,989,000
- Status
- ACTIVE
- Days on Market
- 72
- MLS#
- 1110504
- Subtype
- Residential Income
- Year Built
- 1984
- Bedrooms
- 3
- Bathrooms
- 3
- Lot Size
- 13,504
- Acres
- 0.31
- MLS Area Major
- Southeast Heights
Property Description
Exceptional opportunity to acquire a 57-unit apartment portfolio located in Albuquerque's strong workforce housing sector. The property features a well-balanced unit mix of 1-bedroom/1-bath and 2-bedroom/1-bath units, catering to consistent rental demand in a high-occupancy submarket. This asset offers immediate and stable cash flow, operating at an 9,41% cap rate, making it an attractive option for both seasoned and entry-level multifamily investors seeking yield in today's market. A significant portion of the tenant base is supported by housing voucher programs, providing reliable, government-backed rental in come and reducing collection risk. The property has been well maintained by hands-on local owner who has taken pride in managementand up keep, resulting in solid operations and tenant stability. Investment Highlights: 57 total units (1BR/1BA & 2BR/1BA mix) Strong cap rate with in-place income. Voucher-backed tenants providing consistent revenue. Well-maintained asset with pride of ownershipLocated in a high-demand workforce housing area. This is a rare opportunity to acquire a cash-flowing multifamily asset with scale, stability, and flexibility in Albuquerque.
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Additional Information
- Exterior Features
- Landscaping
- Taxes
- $15,448
- Zoning
- R-ML*
- Flooring
- Carpet, Tile, Vinyl
- Appliances
- Built-In Gas Range, Refrigerator
- Heating
- Wall Furnace
- Air Conditioning
- Evaporative Cooling
- Exterior Construction
- Stucco
- Stories
- 2
- Levels
- Two
Mortgage Calculator
Listing courtesy of Trey W. Whaley from Trinity Apartment Company LLC
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.