Excellent investment property located just two blocks from NMSU! 2510 & 2530 S Espina is a 21-unit multifamily compound featuring studios, one-bed, and larger units with historic charm--hardwood floors, plaster walls, and landscaped courtyards. Rents average $689 against a market of $874, offering clear upside. Recent upgrades include new roof… Read More (2021), solar panels, drip irrigation, exterior lighting, and updated fixtures. Tenants enjoy secure storage, ample parking, and proximity to University Avenue dining, healthcare, and major employers. Offered at $1,700,000 with a 6.08% cap rate, this campus-adjacent asset qualifies for Ventana Fund financing and sits on +/-1.44 acres of R-3-zoned land. A rare chance to own a stabilized, character-rich property priced below replacement cost in the heart of Las Cruces. Read Less
Courtesy of Marvid Charlson, Property Mgt & Investments of NM, 575-652-4043.
Listing Snapshot
Days Online
2
Last Updated
Property Type
Apartment Complex
Lot Size
1.45 Acres
Year Built
1900
MLS Number
LCN2603208
Additional Details
Appliances & Equipment
Range, Refrigerator
Building
Built in 1900, Construction Materials: Adobe, Stucco
Cooling
Evaporative Cooling, Window Unit(s)
Fence
Chain Link, Rock
Heating
Electric, Forced Air, Gas Available
Home Owner's Association
Amenities: Storage
Lot
1.45 acres, Dimensions: 1.01 to 1.5 AC
Parking
None
Property
Good to Excellent
Roof
Asphalt, Shingle, Flat
Sewer
Public Sewer
Taxes
Parcel Number: 4-008-137-336-037 & 4-008-137-343-048, Legal Description: 2510 S. Espina is Subd: LESTER'S ADDITION NO 2 REPLAT NO 4 (BK 20 PG 573 - 049122) Lot: 4 S: 29 T: 23S R: 2E2530 S. Espina is Subd: LESTER'S ADDITION NO 2 REPLAT NO 2 (BK 19 PG 366 - 001566) Lot: 3 S: 29 T: 23S R: 2E
Utilities
Water Source: Public
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Listings courtesy of Southern New Mexico MLS as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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