2105 S Espina Street, Las Cruces, NM 88001 (MLS# 1086671)

Overview

Description

On behalf of the Owner, NM Apartment Advisors, Deacon Property Services, and PMI of New Mexico are excited to bring this prime multi-family property to market. This unique investment opportunity offers a blend of 14 two-bedroom 1 bath apartments and a single studio apartment. Each unit boasts a fenced backyard and features updates such as vinyl windows, sliding doors, and attractive solid-surface flooring. Also included are Master Cool evaporative coolers, a mini-split HVAC system on the studio, and a coin/app-operated laundry facility. Residents love the ample parking (2 spaces per unit) and the proximity to NMSU, local dining, micro-breweries, and shops. Enjoy immediate cash flow potential with this unique property - just revitalized in 2024.

Supplements: Additional perks include professional management and potential for increased returns through strategic upgrades. With a prime location and proven improvements already in place, this property represents a compelling opportunity for investors seeking immediate cash flow with long-term growth potential.

Status Change Info

Pending Date: 2025-08-22
Closing Date: 2025-12-03

Contract Information

List Price/SqFt: 172.73

Location

Street #: 2105
Direction: S
Street Name: Espina
St Suffix: Street
County: Dona Ana
City/Town Code: Las Cruces
State/Province: NM
Zip Code: 88001
Zip +4: 5550
MLS Area Major: 430 - Dona Ana
Zone Atlas: NOZA

General Property Description

# of Units: 15
5+ Units: Yes
Units for Sale: 15
Property Sub-Type: Multi-Family
Living Area: 9490
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.84
Lot SqFt: 36764.64
Directions: From University and S. Espina St: head north on S. Espina approximately 7 blocks to Property (on East side of Espina).
Stories: Yes
Total Stories in Bldg: Yes
Total # of Buildings: Yes
Year Built: 1965
Year Built Source: Public Records
Age: 51 - 60
# Parking Spaces: 31
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X

Cooling

Centrally Ducted: No
Ductless: Yes
Evaporative Cooling: Yes

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 2
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 700
Actual Rent: 995
Max Rent: 1075
Market Rent: 1075

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 700
Actual Rent: 920
Max Rent: 1075
Market Rent: 1075

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 700
Actual Rent: 965
Max Rent: 1075
Market Rent: 1075

# of Unit Types (4)

# of Units: 7
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 700
Actual Rent: 895
Max Rent: 1075
Market Rent: 1075

# of Unit Types (5)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 900
Actual Rent: 995
Max Rent: 1115
Market Rent: 1115

# of Unit Types (6)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 700
Actual Rent: 1095
Max Rent: 1095
Market Rent: 1095

# of Unit Types (7)

# of Units: Yes
# Baths: Yes
Approx. SqFt: 360
Actual Rent: 745
Max Rent: 850
Market Rent: 850

# of Unit Types (8)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 700
Actual Rent: 845
Max Rent: 1075
Market Rent: 1075

Unit Summary

Total Units: 15
Average Unit Size: 690.66
Average Actual Rent: 921.33
Annualized: 165840
Total Actual Rent: 13820

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 0212075

Tax & Legal Info

GRT Code: 07-105
Tax Exemption: Unknown
Tax Annual Amount: 7816.4

Construction Materials

Brick Veneer: Yes
Frame: Yes
Stucco: Yes

Amenities

Enclosed Yard: Yes
Laundry Community: Yes

Flooring

No Carpet: Yes
Tile: Yes
Vinyl: Yes

Heating

Ductless: Yes
Wall Unit: Yes

Owner Pays

Gas: Yes
Sewer: Yes
Trash Removal: Yes
Water: Yes

Tenant Pays

Electric: Yes
Some Utilities: Yes
Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 165840
Operating Expenses: 46898

Build Description

Resale: Yes

Appliances included

Free-Standing Gas Range: Yes
Refrigerator: Yes

Utilities

Cable Available: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes
Phone Available: Yes
Sewer Connected: Yes
Water Connected: Yes

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Miscellaneous Info

No Sign: Yes

Metering

Individual Electric: Yes
Master Gas: Yes
Other - See Remarks: Yes

Operating Expenses

Advertiseing: Yes
Insurance: Yes
Miscellaneous: Yes
Property Management: Yes
Property Taxes: Yes
Repairs/Maintenance: Yes
Utilities: Yes
Other - See Remarks: Yes

Parking

2+Spaces Per Unit: Yes

Roof

Pitched: Yes
Shingle: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

6 Month: Yes
Current Lse Agreemnt: Yes

Source

Actual Record: Yes

Zoning

R-3: Yes

Property Features

Construction Materials: Brick Veneer; Frame; Stucco Build Description: Resale Amenities: Enclosed Yard; Laundry Community Appliances included: Free-Standing Gas Range; Refrigerator Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Phone Available; Sewer Connected; Water Connected Heating: Ductless; Wall Unit Cooling: Ductless; Evaporative Cooling Flooring: No Carpet; Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Miscellaneous Info: No Sign Metering: Individual Electric; Master Gas; Other - See Remarks Operating Expenses: Advertiseing; Insurance; Miscellaneous; Property Management; Property Taxes; Repairs/Maintenance; Utilities; Other - See Remarks Owner Pays: Gas; Sewer; Trash Removal; Water Tenant Pays: Electric; Some Utilities; Other - See Remarks Parking: 2+Spaces Per Unit Roof: Pitched; Shingle Rental Info: 6 Month; Current Lse Agreemnt Finance Considered: Cash; Conventional Source: Actual Record Zoning: R-3