2250 S Locust Street, Las Cruces, NM 88001

$650,000
11
BA
8,390
SqFt
List Price
$650,000
MLS#
1805304
Status
ACTIVE
County
Dona Ana
City
Las Cruces
Subdivision
College Subdivision
Bathrooms
11
Living Area
8,390

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

Additional Information

Days on Market
164
Year Built
1963
Cooling
Evaporative Central
Heating
Gas
Roof
Flat

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Calculator source: Real Geeks

Listing courtesy of Steinborn & Associates.