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1500 Panlener AVE Las Cruces, NM 88001
1.63 Acres Lot
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Key Details
Property Type Vacant Land
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision College Mesa
MLS Listing ID 2603467
Lot Size 1.630 Acres
Acres 1.63
Lot Dimensions rectangular corner
Property Sub-Type Multi Family
Source lascruces
Property Description
The Sands Village is a proposed 28-unit multifamily development opportunity located just six blocks--from New Mexico State University. Existing plans include 16 two-bedroom/two-bath units of approximately 1,050-1,100 square feet and 12 three-bedroom/three-bath units of approximately 1,300-1,350 square feet with a 93-square-foot covered private patio, washer and dryer connections, refrigerated air conditioning, an energy-efficient kitchen and dedicated parking.A comprehensive construction plan package is available, including architectural, civil, structural, mechanical, electrical, plumbing, landscape and irrigation drawings. The seller has prepared preliminary pro forma projects $525,600 in annual gross rent and approximately $349,524 in stabilized NOI, based on 5% vacancy and operating expenses of approximately 30%. All financial figures are projections and should be independently verified by the buyer. Full plans are available. Possible seller financing with acceptable terms.
Location
State NM
County Dona Ana
Interior
Fireplace N
Exterior
Fence Chain Link
Building
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash, Owner Carry, Conventional
Listing Terms Cash, Owner Carry, Conventional
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Listed by REMAX Classic Realty