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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
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Home seller CENTURY 21 Associated Professionals, Inc.

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 Associated Professionals, Inc.

(575) 885-9722
Learn More About Us

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Monthly Payment Breakdown

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