433 Mesilla & 437 (4 lots) Street SE, Albuquerque, NM 87108

$2,323,232
Property Type: Residential Income Square Footage: 14,688 Lot Size (sq. ft.): 25,997 Status: Active
Current Price: $2,323,232 List Date: 6/13/2026 Last Modified: 6/13/2026

Overview

Description

Historic Ownership Since its original construction and development, the Four33/Four37 Apartments have had only a handful of owners. The owner with the longest period of stewardship and the original developer was Weldon ”Connie” Alexander, who was the voice of the UNM Lobos for over a decade. Connie was a UNM athlete and inducted into the UNM Sports Hall of Fame in 2003. As a local lender, investor, landlord and community leader, he led the charge for the rebranding of this neighborhood to support Ta-Lin and the cultural diversity as the ”International District”. Measures of investment performance at the current asking price of $2,323,232 and with average rents of $755, include a low price per unit of $72,601, a price per square foot of $158, a GRM of 8.02, a cap rate of 6.33%, and

Listing Details MLS# 1105475

Contract Information

List Price/SqFt
158.17
Allowance/Concession
No

Location

Street #
433
Street Name
Mesilla & 437 (4 lots)
St Suffix
Street
Post Direction
SE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87108
Zip +4
5215
MLS Area Major
71 – Southeast Heights
Zone Atlas
L19

CityCounty Data

Subdivision Name
Emil Mann Addition

General Property Description

# of Units
32
5+ Units
Yes
Units for Sale
32
Property Sub-Type
Multi-Family
Living Area
14688
SqFt Source
Professional
Lot Size Source
On-Line
Acres
0.6
Lot SqFt
25997
Directions
From I-25 and Gibson, east to Mesilla, south to property
Stories
2
Total Stories in Bldg
2
Total # of Buildings
2
Year Built
1979
Age
Select One
Accessory Dwelling Unit
No
Disability Access
No
LBP Disclosure
Yes
Builder
Alexander
Owner Occupant Unit
No
Multiple Lots
Four
Flood Zone
X

Cooling

Centrally Ducted
No
Evaporative Cooling
Yes

Sales Info

Trade/Xch Considered
No

More Information

# of Unit Types (1)

# of Units
31
# of Bedrooms
Yes
# Baths
Yes
Approx. SqFt
455
Actual Rent
752
Max Rent
1084
Market Rent
1084

# of Unit Types (2)

# of Units
Yes
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
555
Actual Rent
825
Max Rent
1084
Market Rent
1084

Unit Summary

Total Units
32
Average Unit Size
458.12
Average Actual Rent
754.28
Annualized
289644
Total Actual Rent
24137

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101905608747722104

Tax & Legal Info

GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
12250

Construction Materials

Stucco
Yes

Amenities

No Landscaping
Yes

Flooring

Tile
Yes
Vinyl
Yes

Heating

Wall Unit
Yes

Owner Pays

Other – See Remarks
Yes

Showing Requirements

No Lockbox
Yes

Tenant Pays

Other – See Remarks
Yes

Income & Expenses

Annual Gross Income
277423
Operating Expenses
137492

Build Description

Resale
Yes

Appliances included

Refrigerator
Yes

Utilities

Electricity Connected
Yes
Natural Gas Connected
Yes
Sewer Connected
Yes
Water Connected
Yes

Green Energy Generation

None
Yes

Electric Provider

Public Utility
Yes

Electric

None
Yes

Miscellaneous Info

No Sign
Yes

Metering

Individual Electric
Yes
Individual Gas
Yes

Operating Expenses

Other – See Remarks
Yes

Roof

Flat
Yes
TPO (G)
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Other – See Remarks
Yes

Source

Broker Provided
Yes
Owner Provided
Yes

Zoning

R-MH*
Yes

Property Features

Construction Materials: Stucco Build Description: Resale Amenities: No Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Wall Unit Cooling: Evaporative Cooling Flooring: Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Electric: None Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas Operating Expenses: Other – See Remarks Owner Pays: Other – See Remarks Tenant Pays: Other – See Remarks Roof: Flat; TPO (G) Rental Info: Other – See Remarks Finance Considered: Cash; Conventional Source: Broker Provided; Owner Provided Showing Requirements: No Lockbox Zoning: R-MH*

Documents

Listing Office: NM Apartment Advisors, Inc.
Last Updated: June – 13 – 2026
Some of 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.
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