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1400 Alamo St
Las Cruces, NM 88001
SEVILLE APARTMENTS 24 UNITS! · Multifamily Property For Sale
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24 Units
PROPERTY FACTS
| No. Units | 24 | Lot Size | 0.77 AC |
| Property Type | Multifamily | Building Size | 17,884 SF |
| Property Subtype | Apartment | Average Occupancy | 92% |
| Apartment Style | Low-Rise | No. Stories | 2 |
| Building Class | C | Year Built | 1964 |
| Zoning | R3 | ||
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.77 AC |
| Building Size | 17,884 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1964 |
| Zoning | R3 |
AMENITIES
UNIT AMENITIES
- Heating
- Tile Floors
- Kitchen
- Carpet
SITE AMENITIES
- Laundry Facilities
- Gated
ABOUT 1400 ALAMO ST , LAS CRUCES, NM 88001
PROPERTY OVERVIEW Seville Apartments is an opportunity for a Value-Add Investor to upgrade units, increase occupancy and raise rental rates between $75-$100 each 2 Bed. Currently this property is operating at 92% Occupancy with an NOI of $71,617. LOCATION OVERVIEW Seville Apartments is just 1.8 Miles from New Mexico State University & 2.1 Miles away from Donna Ana Community College. With a population of about 101,000, Las Cruces is the largest city in southern New Mexico. Las Cruces is a college town, it is the location of New Mexico State University, the only land-grant university in the state. It is also the location of the White Sands Missile Range. Mountains surround Las Cruces, providing amazing views as well as opportunities for hiking, mountain biking, and camping. Due to its impressive landscape, Las Cruces is often used for filming. As of February 2019, the average apartment rent in Las Cruces, NM is $452 for a studio, $649 for one bedroom, $768 for two bedrooms, and $958 for three bedrooms. Apartment rent in Las Cruces has increased by 1.2% in the past year. COMMUNITY FEATURES • Large Open Courtyard • Surface Parking - 2 spaces per unit • Roof Replaced 5 years ago • Surface Parking Lot - Asphalt - Repaved 6 years ago. INTERIOR FEATURES • Electric Stove & Oven, Refrigerator • Electric - Individually Metered • Heating Gas - Individually Metered • Hot Water Heaters - Individual per Unit • AC/Cooling - Swamp Coolers - Individual Window Units VALUE-ADD OPPORTUNITY • Install additional Washer and Dryers into the On-Site Laundry Facility increasing revenue. • Vacant Units are Market Ready - 3 Units • Update apartment listing web sites with current property info and photos to leasing vacant units.
PROPERTY TAXES
| Parcel Number | 02-11745 | Improvements Assessment | $270,883 |
| Land Assessment | $25,313 | Total Assessment | $296,196 |
PROPERTY TAXES
