1501 Missouri AveLas Cruces, NM 88001

  • Residential income properties
  • 6,615 SF
For Sale
$1,353,879.12 View listing

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.

1501 Missouri Ave, Las Cruces, New Mexico

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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$6,191
$8,333
$191,834
$200,167
-
$25,000
$575,502
$600,502

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