2250 S Locust Street, Las Cruces, NM 88001

$1,399,890

Virtual Tour

www.nmapartment.com/2250locust3d

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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

Lead Based Paint ›

Tax Levy Disclosure ›

Tax Levy 2 ›

LO SO Letter to Buyers, Buyers Broker ›

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.