501-505 Mesilla ST SE, Albuquerque, NM 87108
501-505 Mesilla ST SE, Albuquerque, NM 87108
501-505 Mesilla ST SE, Albuquerque, NM 87108
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Listed by Coldwell Banker Legacy
$560,000
Est. payment /mo
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10 Beds
6 Baths
4,248 SqFt
New

501-505 Mesilla ST SE Albuquerque, NM 87108

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Brad Leigh Patton

Brad Leigh Patton

+1(505) 917-5133

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 4,248 sqft

Price per Sqft $131

MLS Listing ID 1110109

Bedrooms 10

Construction Status Resale

HOA Y/N No

Year Built 1963

Annual Tax Amount $2,735

Lot Size 0.300 Acres

Acres 0.3

Lot Dimensions Survey

Property Sub-Type Multi Family

Property Description

This well-maintained 6-unit multifamily investment property offers an excellent opportunity to acquire a centrally located, income-producing asset with significant recent capital improvements. The property consists of two separately deeded triplexes at 501 and 505, which are being sold together, providing a total of approximately 4,248 square feet across six residential units.The property features a desirable mix of two 1-bedroom/1-bath units and four 2-bedroom/1-bath units, with functional floor plans and a courtyard-style configuration that appeals to tenants seeking convenience and affordability.Ownership has completed numerous improvements throughout the property. Recent upgrades include evaporative cooling, replacement windows in 501 B & C and 505 B, remodeled interiors in select units, durable tile flooring, recessed lighting, and 80% energy-efficient furnaces in select units. Roofing improvements include an ISO roof at 501 completed within approximately the last two years and a TPO roof at 505 completed within approximately the last seven years. All month to month tenants. Unit Mix501Unit A -- 571 SF | 1 BD / 1 BAUnit B -- 571 SF | 1 BD / 1 BAUnit C -- 833 SF | 2 BD / 1 BA505Unit A -- 704 SF | 2 BD / 1 BAUnit B -- 759 SF | 2 BD / 1 BAUnit C -- 810 SF | 2 BD / 1 BA -vacant needs renoTotal Building Area: Approximately 4,248 SFTotal Units: 6Current Monthly Rent: $6,281Annualized Current Rent: $75,372With an established income stream, substantial recent improvements, and a versatile unit mix, this property presents an attractive opportunity for an investor seeking an improved multifamily asset with continued income and long-term appreciation potential. Vacant unit needs renovation. From owner between $10-25k depending on preference to be rented.

Location

State NM

County Bernalillo

Area 71 - Southeast Heights

Interior

Heating Forced Air

Cooling Evaporative Cooling

Flooring Carpet Free

Fireplace No

Appliance Down Draft, Free-Standing Electric Range

Exterior

Exterior Feature Landscaping

Utilities Available Cable Connected, Electricity Connected, Phone Connected, Sewer Connected, Water Available, Water Connected

Water Access Desc Community/Coop

Building

Story 1

Entry Level One

Water Community/ Coop

Level or Stories One

New Construction No

Construction Status Resale

Others

Tax ID 101905608745621223

Acceptable Financing Cash, Conventional, FHA, Owner May Carry, VA Loan

Green/Energy Cert None

Listing Terms Cash, Conventional, FHA, Owner May Carry, VA Loan

Southwest MLS (SWMLS IDX Plus)

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Brad Leigh Patton

Brad Leigh Patton

Broker Associate License ID: 52414

+1(505) 917-5133

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501-505 Mesilla ST SE