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USANMPortales806 W 16Th St
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 1
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 2
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 3
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 4
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 5
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 6
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 7
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 8
806 W 16 Th St, Home with 0 bedrooms, 0 bathrooms and null parking in Portales NM | Image 9
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$1,290,000

Added 7 days ago

806 W 16 Th St, Portales, NM

Real Estate

For Sale

Listed price in listed location currency (USD).
$1,290,000

Added 7 days ago

00-0
  • Key Facts
  • Description
  • Map

Key Facts

Type Multi Family
Levels Residential Income
Size -
Garage No
Taxes 
Days Active 7
Lot Size 
Approx. Age 1971
MLS® Number 202502339

Property Address: 806 W 16 Th St, Portales, New Mexico

Average square foot calculated using Size range provided by listing agent.

Description

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.
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No Data
Walk Score®
-
No Data
Transit Score®
-
No Data
Bike Score®
MLS® Number202502339
Laundry Level
Central VacNo
FireplaceNo
Acreage1.62
Exterior
GarageNo
Approx. Age1971
Basement
Driveway
Garage Spaces
HeatHeat Pump
A/CDuctless, Refrigerated
Heating Fuel

Extras

806 W 16 Th St, Portales, NM

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