609-641 Mesilla Street SE

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.

Overview

Property Status

For Sale

Lot Size

0.31 Acres

MLS ID

1110504

Property Type

Multi-Family

Year Built

1984

Features & Amenities

Neighborhood

Albuquerque / Rio Rancho

Stories

Utilities

Electricity Connected, Sewer Connected, Water Connected

Heat Type

Wall Furnace

Air Conditioning

Evaporative Cooling

Appliances

Built-In Gas Range, Refrigerator

Green Feature

None

Other Exterior Features

Landscaping

Sales Price

$4,989,000

Real Estate Tax

$15,448/yr

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