Sue Brown - Coldwell Banker Legacy
2250 S Locust Street
Las Cruces, NM 88001

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

Details

MLS#1805304
Sub-TypeResale
StatusActive
Days On Site221

Features

SQ Feet8,390
Units10

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Area Information

StateNM
CountyDona Ana
CityLas Cruces
Zip Code88001
Area331 - Univ. Hills
Listing VS Median (in 88001)
Price:
$600,000
low | high
Med:
$129,250
100% of Average
SqFt:
8,390
low | high
Med:
1,627
100% of Average
$ / SqFt:
$72
low | high
Med:
$80
38.562057209381% of Average
On Site:
221
low | high
Med:
52
100% of Average
Listing Updated: 10/14/2018
MLS Number: 1805304
Listing Provided By:
Thomas Whatley  of  Steinborn Associates