1404 Montana Avenue, Las Cruces, NM 88001
$671,260
Property Type:
Residential Income
Square Footage:
3,275
Lot Size (sq. ft.):
8,625
Status:
Active
Current Price:
$671,260
List Date:
2/28/2024
Last Modified:
3/01/2024
Description
This stunning 6-plex, nicknamed ''The Tall Pines'', due to the remarkable large pine trees that encapsulate this property, is a must see. Designed in a horseshoe/U pattern, it allows for a shared common area which residents love to take advantage of. Easy to find and situated off S. Solano, between Idaho and Boutz, this revitalized 6-unit property is just 1 mile from NMSU and 2 miles from downtown, offering ease of travel for anyone attending NMSU or someone wanting to take advantage of the amazing eateries and breweries located downtown.
Measures of investment performance at list price of $671,260 and with average rent of $787 include GRM of 11.85, Before Reserves Cap rate of 5.70% and after tax IRR of 10.50%.
More Information MLS# 1057908
Contract Information
Listing Price: 671260
Current Price: $671,260
List Price/SqFt: 204.96
Status: Active
Allowance/Concession: No
Bank Owned: No
Location
Street #: 1404
Street Name: Montana
St Suffix: Avenue
County: Dona Ana
City/Town Code: Las Cruces
State/Province: NM
Zip Code: 88001
Zip +4: 5397
Geo Lat: 32.296956
Geo Lon: -106.759189
Area: 430 - Dona Ana
Zone Atlas: NOZA
City/County Data
UPC Code: 0212060
Subdivision: SUBD: C L ANDREWS LOT: 1 S: 20 T: 23S R: 2E INST # 2218114 PT OF LT 1
General Property Description
# of Units: 6
5+ Units: Yes
Units for Sale: 6
Property Sub-Type: 6 Units
Apx Structured SqFt: 3275
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.2
Lot SqFt: 8624.88
Directions: From Missouri and Espina - west on Missouri to Solano, north to Montana, east to property
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 3
Year Built: 1949
Year Built Source: Public Records
Age: 71 - 80
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: One
Flood Zone: X
Tax & Legal Info
GRT Code: 07-105
Current Taxes: 3009.92
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 55608
Operating Expenses: 18689
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 5
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 500
Actual Rent: 745
Max Rent: 745
Market Rent: 795
# of Unit Types (2)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 775
Actual Rent: 995
Max Rent: 995
Market Rent: 1095
Unit Summary
Total Units: 6
Average Unit Size: 545.83
Average Actual Rent: 786.66
Annualized: 56640
Total Actual Rent: 4720
Property Features
Construction: Block; Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Some Landscaping
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Phone Connected; Sewer Connected; Water Connected
Heating: Wall Unit
Cooling: Evaporative Cooling
Flooring: Vinyl
Green Energy Generation: None
Electric Provider: Public Utility
Miscellaneous Info: No Sign
Metering: Individual Electric; Individual Gas
Operating Expenses: Other - See Remarks
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Roof: Flat
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Zoning: R-2
Documents
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: March - 01 - 2024
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