For Sale
$1,353,879.12

1501 Missouri AveLas Cruces, NM 88001

14-Unit Apartment Building, High Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 14-unit apartment building presents a compelling investment opportunity in the vibrant city of Las Cruces, New Mexico. Located at 1501 Missouri Ave, this property boasts a substantial 15,315 square feet of space on a 0.51-acre lot, offering significant potential for growth and return. The asking price is $1,353,879.12, translating to a price per unit of $96,705.65 and a price per square foot of $88.40. The property currently generates a strong 6.75% capitalization rate, with a pro-forma NOI of $91,386, reflecting a stable and profitable income stream. Detailed financial information, including a rent roll and income/expense statements, is available upon request. The building features approximately 13,230 heated square feet, providing comfortable living spaces for tenants. This well-situated property in Doña Ana County, zip code 88001, offers investors a chance to acquire a proven performer in a thriving market. The property's location in Las Cruces provides easy access to local amenities, transportation, and a growing population base. This is an ideal opportunity for investors seeking a stable, high-yielding multifamily asset in a desirable New Mexico location. Don't miss this chance to add a valuable property to your portfolio.

Highlights

  • $1,353,879.12 asking price for this 14-unit apartment building.
  • Multifamily property totaling 15,315 square feet.
  • $88.40 price per square foot.
  • 6.75% cap rate, with a pro-forma NOI of $91,386.
  • Located at 1501 Missouri Ave, Las Cruces, NM 88001, on a 0.51-acre lot.
  • $96,705.65 price per unit.

Property Details for 1501 Missouri Ave

Property type
Apartment buildings
Square Feet
15,315 SF
Lot Size (sq. ft)
22,216 SF
Units
14

Location Insight

City
Las Cruces
County
Doña Ana
State
New Mexico
Latitude
32.2961116
Longitude
-106.7565075
1501 Missouri Ave, Las Cruces, New Mexico

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1501 Missouri Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message