Great Opportunity to Own Class A Property

Multi-Family for Sale
Sale Pending/Contingent
Catylist Listing ID: 30289936
Property Subtypes: Low-Rise/Garden
Status: Pending/Contingent
Number of Units: 35 Units
Building Size (RSF): 39,564 SF
Gross Building Area: See Agent
Sale Price: $4,300,000
Unit Price: $122,857.14 Per Unit
Property Use Type: Investment
Building Name: Villa Esparanza Apartments
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 7/16/2018

Overview / Comments

The Villa Esparanza Apartments is a gated Class A property positioned at the entrance of Historic Old Mesilla. The property consist of 1, 2 and 3 bedroom units that are built to condo specifications and quality.
Located at the entrance of historic Old Mesilla, Villa Esparanza Apartments is in a very highly sought after location with a supply constrained submarket and significant barriers to entry. Villa Esparanza is the only Class A apartment complex located in the historic Old Mesilla area.
Units range from 1,045 – 1,685+ sq. ft. Each unit has granite countertops, stainless steel full appliance packages, washer & dryer in units, wood treatments on ceilings, fireplaces, individual patios or balconies. Flooring treatments are carpeting and tile mixture.
The property is gated and features a swimming pool, gym area, garages, covered parking and beautiful landscaping.

Financials

Finance Data Year 2018
Real Estate Taxes - Annual($) $32,011 (Annual)
Gross Operating Income $416,782 (Annual)
Net Operating Income $253,343 (Annual)
Actual or Proforma Year Proforma

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Percent Occupied: 100%
Property Located Between: Avenida De Mesilla and Interstate 10
Highway Access: Interstate 10
Total Number of Buildings: 4
Property Condition: Excellent
Number of Stories: 2
Year Built: 2007
Roof Type: Flat
Parking Type: Surface
Parking Description: Surface parking, parking garages and covered parking
Laundry: In Each Unit
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Package Unit

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,452 57,094 104,509
Median Age: 41.41 32.91 35.5
Households: 2,632 22,870 42,013

Contact

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