Description
Exceptional location one long block to main NMSU campus with easy access to great area dining, entertaining, cafes, and breweries. Sited on nearly 1.5 acres, this classic compound offers amazing outdoor living areas, plenty of parking, and loads of potential. Each unit offers its own unique features, smart storage options, and classic character while maximizing cubic footage and the right updates for resident comfort. Loft style storage and sleeping areas allow each unit to live 50% bigger. Resident quality of life is amplified by extensive outdoor landscaped common areas, gardens spaces, and multiple secure resident storage and bike storage rooms.Hardwood floors, big windows, casework, plaster, and vintage fixtures throughout add to an overall historic charm that make these units as easy to rent as any we've seen.Measures of investment performance at list price of $1,595,000 and with average rent of $627 include GRM of 10.10, Before Reserves Cap rate of 6.33% and after tax IRR of 14.10%.
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7BEDS
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0.49ACRES
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0BATHS
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01/2 BATHS
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3,276SQFT
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$487$/SQFT
School Ratings & Info
Description
Exceptional location one long block to main NMSU campus with easy access to great area dining, entertaining, cafes, and breweries. Sited on nearly 1.5 acres, this classic compound offers amazing outdoor living areas, plenty of parking, and loads of potential. Each unit offers its own unique features, smart storage options, and classic character while maximizing cubic footage and the right updates for resident comfort. Loft style storage and sleeping areas allow each unit to live 50% bigger. Resident quality of life is amplified by extensive outdoor landscaped common areas, gardens spaces, and multiple secure resident storage and bike storage rooms.Hardwood floors, big windows, casework, plaster, and vintage fixtures throughout add to an overall historic charm that make these units as easy to rent as any we've seen.Measures of investment performance at list price of $1,595,000 and with average rent of $627 include GRM of 10.10, Before Reserves Cap rate of 6.33% and after tax IRR of 14.10%.
© 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 Las Cruces Real Estate Professionals | Keller Williams Las Cruces. Data last updated: 2023-02-01T21:14:32.6.