501-505 Mesilla Street SE
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.
Broker Details
Coldwell Banker Legacy (505) 292-8900
MLS ID: johnisaiah State License Number: REC20250793
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $560,000 |
| No. of Units: | 6 |
| Year Built: | 1963 |
| Lot Size: | 4,248.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $93,333 |
| Property Website | Click Here |
| Number of Bedrooms: | 10 |
| Number of Bathrooms: | 6 |
ID: 3yd-GAARNM-1110109
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