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806 W 16th Street, Portales, NM 88130

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For Sale

$1,290,000

5 beds

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Single Family Attached
    Property type

  • Over 50 Years Old
    Age

Explore this Property

Valencia Apartments is a stabilized, 17-unit multifamily asset located just two blocks from Eastern New Mexico University. The 12,865 square foot property is currently operating at 88% occupancy and producing a Net Operating Income (NOI) of $95,780, equating to a 7.42% cap rate based on actuals. Value-Add/Upside: Current rents are below market. Adjusting rents to market levels positions the asset to achieve a projected 9.21% cap rate. Other improvements include fenced yard space, online presence and upgraded driveways. The property was completey renovated 4 years ago. Renovations include new roofs, flooring, mini split HVAC systems, In-Unit washer and dryers, Bathroom vanities and lighting thoughout. A Property Management company is in place to continue oversight. Historically, the property has demonstrated strong tenant demand and low turnover. Proximity to ENMU supports consitent leasing performance.
MLS# 202502339

Courtesy Of Real Estate Advisors, LLC

(505) 539-3200

Property Features

  • Age
    Over 50 Years Old
  • Architecture Style
    Other
  • Lot Size
    1.62 Acres

Map and Directions

Directions to 806 W 16th Street, Portales, NM 88130

Home seller CENTURY 21 Dunagan Associates

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Dunagan Associates

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Mortgage Calculator

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Monthly Payment Breakdown

  • Principle and Interest
    $0
  • Property Taxes
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  • Hazard Insurance
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  • Private Mortgage Insurance
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Calculators provided for estimating purposes only. Consult with your lender to determine precise payment requirements.

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Copyright © 2025 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. Information being provided is 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 being provided is 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.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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