2510/2530 S Espina Street,Las Cruces, NM 88001
Las Cruces, NM 88001
Description
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 (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.
Details
| MLS # | 2603208 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1900 |
| Days On Site | 12 |
| Listing Provided By | Property Mgt & Investments of NM | Marvid Charlson |
Features
| Units | 21 |
|---|---|
| Acreage | 1.45 |
Area Information
| State | NM |
|---|---|
| County | Dona Ana |
| City | Las Cruces |
| Zip Code | 88001 |
| Area | Dona Ana |
| Subarea | 331 Univ. Hills |
| Community Name | Lester Addition |
| Listing VS Median (in Lester Addition) | |
Price: $1,700,000 low | high Med: $0 On site: 12 low | high Med: | |
Market Activity 88001
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Learn More About This Property
| State | NM |
|---|---|
| County | Dona Ana |
| City | Las Cruces |
| Zip Code | 88001 |
| Area | Dona Ana |
| Subarea | 331 Univ. Hills |
| Community Name | Lester Addition |
| Listing VS Median (in Lester Addition) | |
Price: $1,700,000 low | high Med: $0 On site: 12 low | high Med: | |
