1501 Missouri AveLas Cruces, NM 88001
- Residential income properties
- 6,615 SF
Property Details for 1501 Missouri Ave
- Year built
- 1984
- Lot size
- 0.51 AC
- Property size (Sq ft)
- 6,615 SF
- Zone code
- HI-RES-OFFIC
- Property type
- Residential income properties
- Property subtype
- Residential income homes
- APN
- 4-008-136-372-192
- APU
- 4008136372192
Description
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.
Location Insight
- City
- Las Cruces
- County
- Dona Ana
- State
- New Mexico
- Latitude
- 32.296
- Longitude
- -106.756
- CBSA code
- 29740
- CBSA name
- LAS CRUCES, NM METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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