24 Unit Apartment Complex For Sale

Multi-Family for Sale
Catylist Listing ID: 30338974
Property Subtypes: Low-Rise/Garden
Number of Units: 24 Units
Building Size (RSF): 21,434 SF
Gross Building Area: See Agent
Gross Land Area: 43,560 SF
Sale Price: $965,000
Unit Price: $40,208.33 Per Unit
Property Use Type: Investment
Building Name: La Posada Apartments
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/15/2018

Overview / Comments

24 Unit Apartment Complex Now Available For Sale

*17 two bedroom units
*7 one bedroom units
*Separate Laundry Room
*New Roof 2018
*Current owner has kept these units well maintained and has continually reinvested money back into the units.
*Rental Range $450 - $550
*At 100% occupancy, annual rent is +/- $138,000. Typical operation should run the owner +/- 35% in expenses which would give this property approx. 9.3% CAP. Laundry income not included in above numbers.
*Please call listing broker for financials or additional information.

Don't miss this excellent opportunity to invest in well maintained apartments in the desirable Alameda area.

Additional Details

Nearest MSA: Las Cruces
County: Dona Ana
Tax ID/APN: 4-006-134-514-132
Zoning: R3
Percent Occupied: 92%
Property Located Between: Alameda & Main
Highway Access: I-25, I-10, Hwy 70
Airports: El Paso International Airport
Area Description: Lots of amenities in immediate area to include restaurants, shopping, transit and more!
Total Number of Buildings: 4
Property Condition: Good
Number of Stories: 2
Year Built: 1968
Roof Type: Flat
Construction/Siding: Stucco
Exterior Description: Stucco Frame
Parking Type: Surface
Laundry: Shared
Air Conditioning: Evaporative Cooler
Interior Description: Very well maintained complex
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,764 71,731 119,302
Median Age: 34.3 33.76 34.67
Households: 6,122 28,995 47,142
The information presented herein is provided as is, without warranty of any kind. Neither Commercial Association of REALTORS® - New Mexico nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.