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Multi-Family Properties Available in Las Cruces, NM
Randy McMillan 575 640 7213 [email protected] S. Telshor Blvd. Ste 100Las Cruces, NM575-521-1535
Stephanie Maddox 575 639 3504 [email protected]
14 Unit Apartment Complex14 Unit Apartment Complex with Laundry Facility with Laundry FacilitySale Price: $611,089Sale Price: $611,089
4-Plex | 6 Houses4-Plex | 6 HousesSale Price: $439,700Sale Price: $439,700
0.4 mile to0.4 mile toNew Mexico State UniversityNew Mexico State University
College St.
College St.
Espina St.
Espina St.
University Ave.University Ave.
Property Summary14 Unit Apartment Complex
with Laundry FacilitySale Price: $611,089
• 14 Units• All units 2 bedroom and 1 bath
• Total SF: 8,232 SF | 588 SF per unit• Recently remodeled (all new flooring, appliances, light fixtures,
kitchen, roof and bathroom cabinets)• On site laundry facility
• Ample parking• Evaporative coolers
• Electric heat• 0.4 mile to NMSU
2115 College St.Las Cruces, NM 88001
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Financial Summary14 Unit Apartment Complex
with Laundry FacilitySale Price: $611,089
2115 College St.Las Cruces, NM 88001
Gross Possible Income $89,082.00Estimated Vacancy (8%) $7,127.00Gross Operating Income $81,956.00
Operating ExpensesMaintenance and Repair $6,000.00
Insurance $5,213.00
Property Taxes $3,778.00
Management Fee $8,820.00
Landscaping $3,000.00
Coolers $3,600.00
Heaters $2,800.00
Electric/Common Area $827.00
Water/Trash/Sewer $4,797.00
Pest Control $600.00
Reserve for Replacement $2,800.00
Total Operating Expenses $42,235.00Net Operating Income $39,721.00Cap Rate 6.5%Value $611,089.00Price Per Door $43,649.21
Property Summary4-plex
6 HousesSale Price: $439,700
• One 4-Plex• 6 Houses
• All units 2 bedroom and 1 bath• Recently remodeled (all new flooring,
appliances, light fixtures, kitchen, roof and bathroom cabinets)• Evaporative coolers• 4-Plex- Electric heat• 6 Houses- Gas heat• 0.4 mile to NMSU
Newberry Ln. & College St.Las Cruces, NM 88001
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2215 College St.2215 College St.
2225 College St.2225 College St.2235 College St.2235 College St.
1115 Newberry Ln.1115 Newberry Ln.
2221 College St.2221 College St.
2219 College St.2219 College St.
2217 College St.2217 College St.
College St.College St.
New
berr
y Ln
.N
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Ln.
Milt
on A
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Milt
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1115 Newberry Ln.1115 Newberry Ln.
2221 College St.2221 College St.
Unit Square Feet
1115 Newberry 2,172 SF | 543 SF per unit
2215 College St. 1,115 SF
2217 College St. 683 SF
2219 College St. 621 SF
2221 College St. 682 SF
2225 College St. 768 SF
2235 College St. 737 SF
Newberry Ln. & College St.Las Cruces, NM 88001
Financial Summary4-plex
6 HousesSale Price: $439,700
Gross Possible Income $65,825.00Estimated Vacancy (8%) $5,266.00Gross Operating Income $60,559.00
Operating ExpensesMaintenance and Repair $3,000.00
Insurance $4,596.00
Property Taxes $3,257.00
Management Fee $6,583.00
Landscaping $3,000.00
Coolers $2,000.00
Heaters $2,700.00
Utilities $4,443.00
Pest Control $600.00
Reserve for Replacement $1,800.00
Total Operating Expenses $31,979.00Net Operating Income $28,581.00Cap Rate 6.5%Value $439,700.00Price Per Door $43,970.00
Retailer MapLas Cruces, NM 88001
City ProfileLas Cruces, NM 88001
Demographics
2016 Population 96,346
2019 Population 99,339
Estimated Population 2024 102,861
Median Household Income $42,240
Average Household Income $58,946
Per Capita Income $23,405
Located in southern New Mexico in the heart of the Organ Mountain – Desert Peaks National Monument, living at the base of the Organ Mountains is nothing short of spectacular. Protected monument lands filled with abundant wildlife like a wide variety of migratory birds, eagles, hawks, and deer surround Las Cruces.
The area is especially rich with Western history, including the Plaza at Old Mesilla where legendary Old West Sheriff Pat Garrett worked to protect the territory from outlaws like Billy The Kid. Stagecoaches stopped on their long journey across the Butterfield Trail on their way to San Francisco. The ruins of historic Fort Selden are nearby on the banks of the Rio Grande River, giving visitors a glimpse into an historic U.S Calvary fort. The Prehistoric Trackways National Monument and White Sands National Monument also contribute to the area’s unique geography and history.*Why Las Cruces is Ranked the Best. (n.d) http://www.rankedthebestlascruces.com/
More on Las Cruces..• Home to New Mexico State University, New Mex-
ico’s only land grant university• White Sands Test Facility and White Sands Mis-
sile Range is the city’s major employer• Cultural venues include Farm and Heritage
Ranch Museum and the Las Cruces Museum of Art
• Annual Events include the Whole Enchilada Fi-esta, Southern New Mexico State Fair, Day of the Dead Festival, Zombie Walk, and the Las Cruces Country Music Fest
