Description
Each spacious and updated 2 bed, 1 bath unit features its own townhome feel with dedicated fenced in back yards, storage sheds, dedicated driveways, and landscaped front yards. Fresh interior and exterior paint, new washers and dryers in each unit, flooring, fixtures, and countertops, provide the new look people are searching for. Eye-catching and easy to maintain landscaping sets each unit apart. Each unit is 100% individually metered which makes it a breeze to manage and future owners can pursue subdividing each unit as a condo or townhome setup. Located 1.3 miles from NMSU and .3 miles from Las Cruces High School. Shopping, restaurants, and gyms located right around the corner on El Paseo, one of the cities busiest streets. Measures of investment performance at list price of $1,090,143 and with average rent of $1,150 include GRM of 11.29, Before Reserves Cap rate of 6.22% and after tax IRR of 13.70%. If rents are raised to market average of $1,400, the cap rate goes to 7.42%.
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14BEDS
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0.65ACRES
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7BATHS
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01/2 BATHS
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28,226SQFT
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$39$/SQFT
School Ratings & Info
Description
Each spacious and updated 2 bed, 1 bath unit features its own townhome feel with dedicated fenced in back yards, storage sheds, dedicated driveways, and landscaped front yards. Fresh interior and exterior paint, new washers and dryers in each unit, flooring, fixtures, and countertops, provide the new look people are searching for. Eye-catching and easy to maintain landscaping sets each unit apart. Each unit is 100% individually metered which makes it a breeze to manage and future owners can pursue subdividing each unit as a condo or townhome setup. Located 1.3 miles from NMSU and .3 miles from Las Cruces High School. Shopping, restaurants, and gyms located right around the corner on El Paseo, one of the cities busiest streets. Measures of investment performance at list price of $1,090,143 and with average rent of $1,150 include GRM of 11.29, Before Reserves Cap rate of 6.22% and after tax IRR of 13.70%. If rents are raised to market average of $1,400, the cap rate goes to 7.42%.
© 2023 Southern New Mexico Multiple Listing Service. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by MLIS or Agave Real Estate Group - Keller Williams Realty. Data last updated: 2023-12-10T08:15:01.557.