2250 S Locust Street

    Las Cruces, NM 88001
    • $600,000
    • STATUS: Active
    • ON SITE: 228 days
    • MLS #: 1805304
    UPDATED: 196 min ago
    $600,000
    • 0
      BEDS
    • 1.01
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,390
      SQFT
    • $72
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    County:

    School Ratings & Info

    Description

    2250 S Locust Street is a very desirable multi-family property. It is located approximately 1/2 mile from New Mexico State University. The property consists of 10 units, one home and 9 apartments. The owners currently have it managed by a property management firm. The owners have spent $117,561 on the units for upgrades and repairs. Broker has the list broken down by each unit. The roof has also been replaced on the units. The income potential is greatly enhanced by the location, close to the University. Potential rental income is $68,400.00 per year. Actual rental income for 2017 was $66,091.18. This property is also small enough for an investor to manage it themselves. Since most of the repairs have been done, there could be very little to do. It is not often that a multi-family property with this much potential and these many units come up for sale. Current vacancy is only one unit. Rents range from $475 to $800 per unit

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    © 2018 Southern New Mexico Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MLIS or Steinborn & Associates Real Estate. Data last updated: 2018-10-23T00:14:36.877.
    www.viewlascruceshomes.com/homes/81404928

    2250 S Locust Street Las Cruces, NM 88001

    • Price: $600,000
    • Status: Active
    • Updated: 196 min ago
    • MLS #: 1805304
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.01
    Acres
    8,390
    SQFT
    $72
    $/SQFT
    Neighborhood:
    College Subdivision
    County:
    Dona Ana
    Area:
    331 - Univ. Hills
    Property Description
    2250 S Locust Street is a very desirable multi-family property. It is located approximately 1/2 mile from New Mexico State University. The property consists of 10 units, one home and 9 apartments. The owners currently have it managed by a property management firm. The owners have spent $117,561 on the units for upgrades and repairs. Broker has the list broken down by each unit. The roof has also been replaced on the units. The income potential is greatly enhanced by the location, close to the University. Potential rental income is $68,400.00 per year. Actual rental income for 2017 was $66,091.18. This property is also small enough for an investor to manage it themselves. Since most of the repairs have been done, there could be very little to do. It is not often that a multi-family property with this much potential and these many units come up for sale. Current vacancy is only one unit. Rents range from $475 to $800 per unit
    Exterior Features

    Construction Cinder Block Number Of Floors One Parking Capacity 20.00 Parking Type Paved Area Roofing Flat

    Interior Features

    Appliances Refrigerator Cooling Evaporative Central Flooring Foundation Vinyl Heating Gas

    Property Features

    Community Amenities Outside Storage Display On Public Websites YN Yes Green Certified YN No Hoa YN No New Vs Resale Resale Owner Financing YN No Property Sub Type Apartment Complex Reo Bank Owned YN No Sewer City Sewer Short Sale YN No Type Of Tenancy 12 Months Unit Features Extra Storage Util Serv Included In Rent Cable TvElectricityGas Water City Water Will Sell Conventional

    Listing provided courtesy of Thomas Whatley of Steinborn & Associates: (575) 522-3698. All listing information was provided by Southern New Mexico Multiple Listing Service.
    © 2018 Southern New Mexico Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MLIS or Steinborn & Associates Real Estate. Data last updated: 2018-10-23T00:14:36.877.
     
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