potential owner occupant, courtyard style fourplex with two bedroom, one bathroom units each with washer/dryer hookups or washer/dryers.The prior owner remodeled the property with a new roof, new windows, synthetic stucco, hard surface flooring, new lighting, new vanities, washer/dryers new evaporative coolers updated electrical, wrought iron security fence, new toilets as well as replacing some of the hot water heaters and furnaces.This 4-plex is located in an area of that has had major announcements of new employment. Measures of investment performance at ask price of $433,651 and current average rent of $906 are a GRM of 9.97, a 6.71% cap rate, $108,413 per unit, $144.55/sf.If rents are raised to closer to market rates of $1,075 the cap rate improves to 8.10%
For sale
$433,651
512 Mesilla St SE, Albuquerque, NM 87108
2beds
1baths
3,000sqft
Est.:
Quadruplex, Multi Family
Built in 1960
-- sqft lot
$424,100 Zestimate®
$145/sqft
$-- HOA
What's special
New toiletsSynthetic stuccoNew roofWrought iron security fenceNew evaporative coolersNew vanitiesHard surface flooring
- 208 days
- on Zillow |
- 139 |
- 6 |
Zillow last checked: 7 hours ago
Listing updated: January 25, 2025 at 02:49pm
Listed by:
Todd D Clarke 505-440-8633,
NM Apartment Advisors, Inc. 505-440-8633
Source: SWMLS,MLS#: 1077102

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
Heating
- Wall Furnace
Cooling
- Evaporative Cooling
Appliances
- Included: Refrigerator
Features
- Flooring: Carpet, Tile, Vinyl
- Has basement: No
Interior area
- Total structure area: 3,000
- Total interior livable area: 3,000 sqft
Property
Parking
- Total spaces: 6
Features
- Levels: One
- Stories: 1
Lot
- Size: 6,969.6 Square Feet
Details
- Has additional parcels: Yes
- Parcel number: 101905610544221316
- Zoning description: R-ML*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Multi Family
Materials
- Block, Frame, Stucco
Condition
- Resale
- New construction: No
- Year built: 1960
Utilities & green energy
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Green energy
- Energy generation: None
Community & HOA
Community
- Subdivision: Emil Mann
Location
- Region: Albuquerque
Financial & listing details
- Price per square foot: $145/sqft
- Tax assessed value: $268,212
- Annual tax amount: $3,708
- Date on market: 1/25/2025
- Listing terms: Cash,Conventional,FHA,VA Loan
- Tenant pays: Other, See Remarks
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