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.

This is an Active listing.

Broker Office Phone Number: 505-539-3200

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