60 Unit Apartment Complex - Las Cruces
Multi-Family
for Sale
| Catylist Listing ID: |
30631764 |
| Property Subtypes: |
Low-Rise/Garden
|
| Number of Units: |
60 Units |
| Building Size (RSF): |
56,580 SF |
| Gross Building Area: |
See Agent |
| Gross Land Area: |
2.70 SF
|
| Sale Price: |
$4,500,000 |
| Unit Price: |
$75,000 Per Unit |
| Property Use Type: |
Investment |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
6.5% |
| Average Occupancy Rate: |
95 |
| Last Updated: |
12/29/2020 |
Overview / Comments
|
Majestic Pointe Apartments are a well maintained, high occupancy performance property located in a very desirable area of Las Cruces, NM. The property has a great mix of 1, 2 & 3 bedroom units that are very large units featuring outstanding views, walk in closets and upgraded interiors. The property had a new shingle roof installed in 2016 and all air conditioners were replaced in 2017 - 2019. A full exterior paint was also completed in 2016. The property has performed at a very high occupancy exceeding 95% and is currently 100% occupied. Market rents in property around Majestic Pointe are higher which allows room for rent adjustments.
|
Financials
| Finance Data Year |
2020 |
| Real Estate Taxes - Annual($) |
$32,034 (Annual) |
| Gross Operating Income |
$474,627 (Annual) |
| Net Operating Income |
$290,828 (Annual) |
| Actual or Proforma Year |
Proforma |
Additional Details
| Nearest MSA: |
Las Cruces |
| County: |
Dona Ana |
| Tax ID/APN: |
4010135116048 |
| Percent Occupied: |
100% |
| Total Number of Buildings: |
3 |
| Property Condition: |
Good |
| Number of Stories: |
3 |
| Year Built: |
1982 |
| Roof Type: |
Hip |
| Construction/Siding: |
Stucco |
| Parking Type: |
Structure, Surface |
| Laundry: |
Laundromat Nearby |
| Sprinklers: |
None |
| Heat Type: |
Natural Gas |
| Heat Source: |
Central |
| Air Conditioning: |
Evaporative Cooler |
| Water Service: |
Municipal |
| Sewer Type: |
Municipal |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
9,419 |
62,641 |
107,400 |
| Median Age: |
36.4 |
34.21 |
35 |
| Households: |
4,272 |
26,220 |
43,163 |
|
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