Homes by Carolyn Fischman

609-641 Mesilla Street SE, Albuquerque, NM 87108 (MLS# 1110504)

609-641 Mesilla Street SE, Albuquerque, NM 87108

New Listing
$4,989,000
Property Type: Residential Income Lot Size (sq. ft.): 13,504 Status: Active
Current Price: $4,989,000 List Date: 9/04/2026 Last Modified: 9/05/2026

Overview

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 management and 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 prid ...

Listing Details MLS# 1110504

Location

Street #
609-641
Street Name
Mesilla
St Suffix
Street
Post Direction
SE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87108
Zip +4
3988
MLS Area Major
71 - Southeast Heights
Zone Atlas
L19

General Property Description

# of Units
57
5+ Units
Yes
Units for Sale
57
Property Sub-Type
Multi-Family
Lot Size Source
On-Line
Acres
0.31
Lot SqFt
13504
Directions
Take Exit 222A for Gibson Blvd. Head east on Gibson Blvd SE. Turn left (north) onto Broadway Blvd SE. Turn right (east) onto Mesilla St SE. Continue to 609 Mesilla St SE, which will be on your left. (Google maps)
Stories
2
Total # of Buildings
11
Year Built
1984
Age
Select One
Accessory Dwelling Unit
No
Disability Access
Unknown
LBP Disclosure
Yes
Builder
Unkown
Owner Occupant Unit
No
Flood Zone
X

Cooling

Centrally Ducted
Yes

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
48
# of Bedrooms
Yes
# Baths
Yes
Approx. SqFt
600
Actual Rent
1084
Max Rent
1206
Market Rent
1100

More Information

# of Unit Types (2)

# of Units
3
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
700
Actual Rent
1258
Max Rent
1350
Market Rent
1250

# of Unit Types (3)

# of Units
6
# Baths
Yes
Approx. SqFt
384
Actual Rent
700
Max Rent
850
Market Rent
700

Unit Summary

Total Units
57
Average Unit Size
582.52
Average Actual Rent
1052.73
Annualized
720072
Total Actual Rent
60006

Property Features

Construction Materials: Stucco Build Description: Resale Amenities: Laundry Community; Some Landscaping Appliances included: Built-In Gas Range; Refrigerator Utilities: Electricity Connected; Sewer Connected; Water Connected Heating: Wall Unit Cooling: Evaporative Cooling Flooring: Carpet; Tile; Vinyl Green Energy Generation: None Electric Provider: None Metering: Individual Electric; Master Gas Owner Pays: Some Utilities; Other - See Remarks Tenant Pays: Some Utilities; Other - See Remarks Parking: 1 Space Per Unit Roof: TPO (G) Rental Info: Current Lse Agreemnt; Month To Month; Yearly Lease Finance Considered: Cash; Conventional Showing Requirements: Call Listing Agent Zoning: R-ML*
Listing Office: Trinity Apartment Company LLC
Last Updated: September - 05 - 2026
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-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

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