2250 S Locust Street, Las Cruces, NM 88001

$1,399,890
Property Type: Residential Income Square Footage: 10,270 Lot Size (sq. ft.): 44,867 Status: Closed
Current Price: $1,399,890 List Date: 9/16/2024 Last Modified: 12/19/2024

Overview

Description

With 13 ground floor apartments with plenty of private parking right near each apartment's front door, residents love the added privacy and security of patio home style living as much as they love the unique amenities and recent upgrades each unit offers. The current owners have completed significant renovations and updates, including a new electrical service for 7 apartments. There are also multiple HVAC upgrades, including 3 new package units on 3 brand new 1 bedroom / 1 bath apartments. More than 1/2 the apartments have been renovated in the last 2 years, offering the next owner a clear pathway to easy further value add measures or a stabilized and well-maintained core asset. Equally, several significant but optional value add opportunities remain for the next owner, includi

Listing Details MLS# 1070777

Status Change Info

Pending Date
2024-12-07
Closing Date
2024-12-19

Contract Information

List Price/SqFt
136.31

Location

Street #
2250
Direction
S
Street Name
Locust
St Suffix
Street
County
Dona Ana
City/Town Code
Las Cruces
State/Province
NM
Zip Code
88001
MLS Area Major
430 - Dona Ana
Zone Atlas
NOZA

CityCounty Data

Subdivision Name
Section 21, Tract 23S , Range 2E, Inst# 2131656

General Property Description

# of Units
13
5+ Units
Yes
Units for Sale
13
Property Sub-Type
Multi-Family
Living Area
10270
SqFt Source
Professional
Lot Size Source
On-Line
Acres
1.03
Lot SqFt
44867
Directions
From University and Locust north to property.
Stories
Yes
Total Stories in Bldg
Yes
Total # of Buildings
5
Year Built
1962
Year Built Details
3 units built/renovated in 2023-2024
Year Built Source
Public Records
Age
61 - 70
Accessory Dwelling Unit
No
Disability Access
Unknown
LBP Disclosure
Yes
Builder
Unknown
Owner Occupant Unit
No
Multiple Lots
One
Flood Zone
X

Cooling

Centrally Ducted
No

More Information

Basement

Basement
No

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
Yes
# of Bedrooms
3
# Baths
2
Approx. SqFt
1690
Actual Rent
1000
Max Rent
1300
Market Rent
1400

# of Unit Types (2)

# of Units
5
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
808
Actual Rent
922
Max Rent
965
Market Rent
1096

# of Unit Types (3)

# of Units
7
# of Bedrooms
Yes
# Baths
Yes
Approx. SqFt
509
Actual Rent
867
Max Rent
937
Market Rent
1152

Unit Summary

Total Units
13
Average Unit Size
714.84
Average Actual Rent
898.38
Annualized
140148
Total Actual Rent
11679

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
NOT AVAILABLE

Tax & Legal Info

GRT Code
07-105
Tax Exemption
No
Tax Annual Amount
6214

Construction Materials

Block
Yes
Frame
Yes
Stucco
Yes

Amenities

Some Landscaping
Yes

Flooring

Carpet
Yes
Tile
Yes
Vinyl
Yes

Heating

Central
Yes
Forced Air
Yes
Wall Unit
Yes

Owner Pays

Other - See Remarks
Yes

Tenant Pays

Other - See Remarks
Yes

Income & Expenses

Annual Gross Income
139152
Operating Expenses
45409

Build Description

Resale
Yes

Appliances included

Refrigerator
Yes

Utilities

Electricity Connected
Yes
Natural Gas Connected
Yes
Sewer Connected
Yes
Water Connected
Yes

Green Energy Generation

None
Yes

Electric Provider

Public Utility
Yes

Miscellaneous Info

No Sign
Yes

Metering

Other - See Remarks
Yes

Operating Expenses

Other - See Remarks
Yes

Parking

Guest Parking
Yes
Unpaved
Yes

Roof

Flat
Yes
TPO (G)
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Other - See Remarks
Yes

Source

Actual Record
Yes
Broker Provided
Yes
Owner Provided
Yes

Zoning

R-2
Yes

Property Features

Construction Materials: Block; Frame; Stucco Build Description: Resale Amenities: Some Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central; Forced Air; Wall Unit Flooring: Carpet; Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Miscellaneous Info: No Sign Metering: Other - See Remarks Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Parking: Guest Parking; Unpaved Roof: Flat; TPO (G) Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Source: Actual Record; Broker Provided; Owner Provided Zoning: R-2

Documents

Listing Office: NM Apartment Advisors, Inc.
Last Updated: December - 19 - 2024
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

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