1501 Missouri AveLas Cruces, NM 88001

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 homes

Property subtype

Serviced apartments

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

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