1810 Payne St, Las Cruces, NM 88001

Choose nearby businesses to show on the map:

Building Details:

• Year Built: 2008

1810 Payne St is located in Las Cruces, NM.

This property built in 2008 consists of 8 buildings. 7 buildings have two units. Each unit is a 3 bedroom – 2 bath unit. The 8th building has 2 units. One unit is a 2 bedroom – 2 baths and the second is a 2 bedroom – 1 bath.

The location is excellent and is very close to New Mexico State University and Memorial Medical Center. The property is well kept and the buildings have been well constructed.

This is a perfect long term investment; rents are on the increase for Multi-Family in Las Cruces, NM. The vacancy rate in Las Cruces continues to drop.

The current rent for the 3 bedroom units is $795 per unit. With over 1100 SF per unit the rent could easily be at 76 cents per SF. That would still be under market and that would increase the rents to $895 per month. The 2 bedroom units rent for between $650 and $695 per month. 2 bedroom units at 76 cents per SF would bring the rent to $718 per month. That would increase the overall rents an additional $21,579 per year.

There is an assumable loan: 6.39% APR, 1% transfer fee. With Qualifying.