1506 W Yucca Ave - Apartments FOR SALE


Artesia, NM 88210
$1,363,000 USD
575-513-7499
1506 W Yucca Ave, Artesia, NM for Sale
$1,363,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

1506 W Yucca Ave
Artesia, NM 88210


HIGHLIGHTS

  • 20-unit quadplex portfolio (5 buildings)
  • Tenants pay electric & gas (individually metered), Owner pays water only (master metered)
  • Most units remodeled in 2024/2025 with split HVAC units installed
  • Offered individually or as a portfolio

OVERVIEW

Excellent opportunity to acquire a 5-building, 20-unit multifamily portfolio consisting of 4 quadplexes located on W Hank Ave in Artesia, NM and 1 quadplex located on W Yucca Ave in Artesia, NM. The portfolio features a diverse unit mix of 1-, 2-, and 3-bedroom apartments, supporting broad tenant demand and stable occupancy. Most units have been remodeled, and split HVAC systems were installed in 2024–2025 across the majority of units, reducing near-term capital expenditure needs and improving operating efficiency. Tenants pay for electric and gas (individually metered by unit). Ownership is responsible for water only, which is master-metered and averages approximately $120–$130 per building per month. Recurring pet rent is charged at $25 per pet per month if tenants have pets. Non-refundable pet fees are excluded from NOI. Insurance ranged from $2900-$3300 per quadplex. Property Taxes currently are $584 a year per quadplex. Properties are offered individually or as a portfolio. Buildings are listed separately on MLS due to ownership structure (all have common ownership). Portfolio addresses include 1403, 1407, 1501, 1505 W Hank Ave and 1506 W Yucca Ave only. No other quadplexes on Hank Ave or W Yucca are included in this offering to sellers’ knowledge. Financing: Seller is willing to offer creative financing or seller/owner financing on 1501 W Hank if other quadplexes are purchased together. All other property will be conveyed via cash purchase or buyer-arranged third-party financing (bank, lender, or institutional financing).

FOR SALE DETAILS

PRICE

$1,363,000 USD

PRICE/SF

$86 USD /SF

# OF UNITS

20

PRICE/UNIT

$68,150

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

W Hank Quadplexes (9% Cap Rate)

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.99 AC

LAND SF

86,735 SF

ZONING

R1B

APN/PARCEL ID

4-151-098-419-361,4-151-098-424-361,4-151-098-430-361,4-151-098-435-361,4-151-098-441-361,4-151-098-447-361,4-151-098-452-361,4-151-098-457-361,4-151-098-463-361,4-151-098-468-361,4-151-098-474-361,4-151-098-480-361

ASK ABOUT THIS PROPERTY

Stephanie NoriegaSNAC Holdings LLCMore Info
575-513-7499

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Stephanie NoriegaSNAC Holdings LLCMore Info
575-513-7499

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.