20 Units - Las Cruces

Multi-Family for Sale
Catylist Listing ID: 30766921
Property Subtypes: Low-Rise/Garden
Number of Units: 20 Units
Building Size (RSF): 14,929 SF
Gross Building Area: See Agent
Gross Land Area: 30,492 SF
Sale Price: $1,625,000
Unit Price: $81,250 Per Unit
Property Use Type: Investment
Building Name: La Marianna Apartments
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Average Occupancy Rate: 96
Last Updated: 11/26/2021

Overview / Comments

This is the opportunity to own a long term ownership, high performing multi family property in Las Cruces, NM. This property has been owned by the current operator for over 18 years and maintained in excellent condition. La Marianna Apartments is a 20 unit property consisting of 12 one bedroom units and 8 two bedroom units. Most recent improvements include all new evaporative coolers (2020) complete exterior painting (2019) and complete interior upgrades with cabinetry, countertops, lighting and flooring. Tenants are not to be disturbed or approach. The property is owned by a licensed real estate broker.

Financials

Finance Data Year 2021
Real Estate Taxes - Annual($) $6,063 (Annual)
Potential Rental Income $139,800 (Annual)
Gross Operating Income $138,748 (Annual)
Net Operating Income $97,443 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Tax ID/APN: 4009135483437
Zoning: R-3
Percent Occupied: 100%
Total Number of Buildings: 2
Property Condition: Excellent
Number of Stories: 2
Year Built: 1982
Roof Type: Flat
Construction/Siding: Stucco
Laundry: Shared
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Evaporative Cooler
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,285 62,972 105,478
Median Age: 32.73 33.35 34.63
Households: 6,817 26,158 42,308

Contact

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