Contacts
Todd Clarke
New Mexico Apartment Advisors
Property Details
- Property Type Multi-Family
- Property Size 10,270 SF
- Units 13
- Lot Size 1.03 Acre
- Cap Rate % 6.26
- Additional Rent Contact for pricing
- Date Updated Oct 25, 2024
Very rare opportunity to own such a well-located and unique apartment compound so close to NM State University. 2250 S. Locust boasts a diverse unit mix in an updated, soft gated community. 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 signiÞcant 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 one-half of 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 wellmaintained core asset. Equally, several signiÞcant but optional value add opportunities remain for the next owner, including creating additional common area amenities, adding a casita-style unit to the compound, updating each unit with additional amenities, or renovating the 3 bedroom 2 bathroom main house for optimal performance. Add that to an absolutely stellar NMSU location and you've got an investment opportunity that checks all boxes.. Amazing amenity full location This compound sits next door to the Icebox Brewery, a 1/4 mile to NMSU, a 1/2 a mile to I-25, with quick and easy access to shopping, cafes, restaurants, entertainment, and I-10. The location features a 87 Bike Score 72 Walk Score. This is the Las Cruces multi-family investment opportunity you've been waiting for.
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Getting around
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69/100
Walk Score ®
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85/100
Bike Score ®
Location
- City Las Cruces, NM
- Zip Code 88001
- Market Albuquerque
Points of Interest
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Speedway
0.38 miles
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Circle K
0.60 miles
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Shell
0.84 miles
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Fina
0.92 miles
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Brewer
1.09 miles
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Alon
1.25 miles
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Sunoco
1.27 miles
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Valero
1.49 miles
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Tesla Supercharger
3.56 miles
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Handicap Parking
0.61 miles
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Metered Parking
0.62 miles
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Faculty/Staff Parking
0.65 miles
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Clinton Anderson Hall Guest Parking
0.76 miles
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Lot 30
0.82 miles
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Lot 35
0.91 miles
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La Posta Overflow Parking
2.68 miles
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La Posta Parking
2.70 miles
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Sleep Inn
0.66 miles
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WoodSpring Suites
0.69 miles
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Comfort Suites
0.70 miles
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Hilton Garden Inn
0.85 miles
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Ramada Palms
1.02 miles
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Super 8
1.05 miles
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Motel 6
1.09 miles
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Comfort Inn
1.10 miles
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Holiday Inn Express Hotel & Suites
1.16 miles
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Quality Inn & Suites
1.39 miles
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Toucan
0.38 miles
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Lowes Foods
0.46 miles
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Albertsons
1.18 miles
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Maria Teresa Plaza
1.25 miles
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Mountain View market
1.29 miles
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Pro's Ranch Market
1.40 miles
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JCPenney
1.42 miles
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Sprouts Farmers Market
1.49 miles
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Mesilla Valley Mall
1.52 miles
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Big Lots
1.53 miles
In-Depth Research Available for this Property
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Contact Listing Broker
Todd Clarke
New Mexico Apartment Advisors