The Four33/Four37 Apartments
32 renovated units, high cap rate
Marketing description
On behalf of the Owner, NM Apartments Inc. and Maestas Real Estate Services are honored to bring this unique, updated 32-unit apartment complex to market. Located at 433-437 Mesilla SE and spanning 4 parcels of land, in two buildings, this property is located within walking distance to the regional well-known Ta-Lin International Marketplace and the Expo NM/State Fair of New Mexico campus. The property is also just minutes away from one of the main entrances to Sandia National Laboratories and Kirtland Air Force Base.
The property has 32 recently renovated units, most of which are one-bedroom apartments. The community also has a connection to Albuquerque history, and its longest running owner and chief steward of the area is local favorite and the voice of the Lobos, Connie Alexander.
The property is ideal for an investor looking to capitalize on providing quality housing for Kirtland Air Force Base, the newly announced Touro College of Dental Medicine, local nearby hospitals, the new Max Q development project, The Aviation Center of Excellence, Netflix, and the multitude of new jobs coming to the Albuquerque Metro's booming south side.
Investment highlights
- TPO Roofs (both buildings)
- 32 prehung front doors
- 32 Security Doors
- 32 vinyl windows (front of buildings)
- Property perimeter fence
- Exterior breezeway lighting
- Asphalt parking lots and striping
- New 75 Gallon hot water heater (North Building)
- Gutters
- 2 New staircase (2 original still exist)
- New 200' block wall on West side of parcel
- New rollable gate on North Building (power and opener present for automatic gate)
- All units have been renovated except for 7 and 202 which are original tenants from 2021
- Luxury vinyl (all units except ones that had tile)
- Cabinet replacement or paint
- New countertops where necessary (several units have granite countertops)
- New toilets throughout property
- New vanities where necessary, and two-tone paint
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