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10 Beds
6 Baths
4,248 sqft

$560,000

501-505 Mesilla Street SE, Albuquerque NM, 87108

Price per sqft$131.83
Built in1963
Property size4,248 sqft
Property typeMulti-family
Courtesy of Coldwell Banker Legacy

Overview

Active

Listed Aug 29, 2026

Updated Sep 1

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.

$3,726/mo

Est. mortgage payment based on a $560,000 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
1110109

Interior Features

Bedrooms
10
Bathrooms
6
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.3 Acres

Other Property Details

Taxes
$2,736
Tax Frequency
Annually
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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. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Steffan Walters shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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