1550 Durazno Street
Las Cruces, NM 88001
- 2 beds
- 1 bath
- 7,378 sqft
- ~3/4 acre lot
- $71 per sqft
- 1958 build
- – on site
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TThe owner of this property has held it in their family for over 40 years and are ready to retire. This is a value add opportunity with seven single family patio home style residences that share a common walls, but are separately metered for gas, electric and water, refuse and sewer. Located in New Mexico's 2nd largest town, home to NM State University and its ~11,000 students this property is well situated for repositioning in the marketplace. Current rents range from $510 to $750 for identically sized units. With an average rent of $633, the measures of investment performance at the list price of $525,000 include a GRM of 9.88, Before Reserves Cap rate of 6.00% and after tax IRR of 16.90%. If rents are raised to market of $895, the cap rates goes to 9.34%, cash on cash to 18.12%. With am
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Last updated Nov 21, 2024
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MLS# 1004885 —
The Building
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Year Built:1958
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Builder Name:Blanco
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New Construction:false
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Construction Materials:Block
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Stories:1
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Stories Total:1
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Levels:One
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Basement:false
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Exterior Features:Landscaping
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Accessibility Features:None
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Building Area Total:7378.0
Interior
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Flooring:Carpet,Vinyl
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Laundry Features:WasherHookup
Room Dimensions
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Living Area:7378.0
Location
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Directions:From Lohman and I25 west to Solano, south to Missouri, West to Durazno - on corner to the north of Missouri
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Latitude:32.294462
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Longitude:-106.765867
The Property
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Parcel Number:4008136086243
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Property Type:ResidentialIncome
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Property Subtype:MultiFamily
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Property Condition:Resale
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Zoning Description:R-3
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Lot Size Acres:0.65
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Lot Dimensions Source:PublicRecords
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Lot Size SqFt:28226.88
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Lot Size Source:PublicRecords
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Additional Parcels:true
Listing Agent
- Contact info:
- Agent phone:
- (505) 440-8633
- Office phone:
- (505) 440-8633
Taxes
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Tax Annual Amount:2811.96
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Tax Legal Description:Lots 6-9 Newell Subdivision
Beds
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Bedrooms Total:2
Baths
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Total Baths:1
Heating & Cooling
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Heating:Central,ForcedAir
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Heating:true
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Cooling:EvaporativeCooling
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Cooling:true
Utilities
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Utilities:ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
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Electric:None
Appliances
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Appliances:Refrigerator
The Community
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Subdivision Name:Lots 6-9 Newell Subdivision
Walk Score®
Provided by WalkScore® Inc.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
| Date | Event | Source | Price | % Change |
|---|---|---|---|---|
|
3/11/22
Mar 11, 2022
|
Sold | SWMLS | $525,000 |
