Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1403 W Hank Avenue Artesia, NM 88210

    View on Map
    For Sale
    $244,000

    MULTI_FAMILY - Ranch - Artesia, NM

    Type:Single Family Residence
    Property size:
    3,159 SF
    Lot size:
    0.17 Acres
    Added:
    Oct 15, 2025
    Days on Market:
    170
    Last Refresh:
    Apr 2 at 6:06 am

    Property Features for 1403 W Hank Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Single Family Residence
    Bedrooms
    4
    Bathrooms
    3
    Rooms
    Bedroom 1, Bedroom 3, Bedroom 4, Bathroom 3, Bedroom 2, Bathroom 1, Bathroom 2
    Parking
    4
    Appliances
    Free-Standing Range, Refrigerator
    Standard status
    Active
    APN
    4151098474361
    Size
    3,159 SF
    Lot size
    0.17 Acres

    Taxes and HOA fees

    TaxYear
    2024
    TaxDescription
    Subd: VASWOOD Lot: 2 Block: 2 Quarter: SE S: 07 T: 17S R26E Subd: VASWOOD Lot: 3 Block: 2 Quarter: SE S: 07 T: 17S R26E
    TaxAnnualAmount
    711

    Building Details

    Floors in Building
    1
    Number of units
    4
    Building materials
    Stucco
    Roof type
    Membrane
    Architectural style
    Ranch

    We can help!

    Listing Contact
    Karen Miller
    Karen Miller

    Listing agent Karen Miller License #47241

    Listing office Harwell & Associates Real Estate 324 W Main Street Suite 109, Artesia, NM

    Listing date Oct 15, 2025

    MLS# 20256033 Listing URL

    Copyright © 2026 New Mexico MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Artesia Multifamily Investment Opportunity

    This multifamily property in Artesia, New Mexico, presents an investment opportunity. The property consists of four units: one 1-bedroom unit, two 2-bedroom units, and one 3-bedroom unit. The building features a large front porch. Split units were added to all units in 2024. The property is situated on a lot of 0.1676 acres and the building has a total area of 3159 square feet. This property offers a combination of current income and long-term value in a steady rental market.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Artesia
    County
    Eddy
    State
    New Mexico
    Longitude
    -104.41429
    Latitude
    32.847338

    Nearby Similar for Sale

    • $1,500,000
      7,500 SF

      Industrial Building on Fenced Acreage

      7,500 SF industrial building on 6.454 fenced acres.
      6414-4 Seven Rivers Highway, Artesia, NM 88210
      View Details
    • $375,000
      2,688 SF

      Artesia Multifamily Property For Sale

      Four 1-bedroom units with long-term tenants in Artesia, NM.
      307 N 14th Street, Artesia, NM 88210
      View Details
    • $175,000
      3,159 SF

      Artesia Multifamily Investment Opportunity

      Four-unit multifamily property in Artesia, NM.
      1411 W Hank Ave, Artesia, NM 88210
      View Details
    • $270,000
      3,150 SF

      Artesia Multifamily Investment Opportunity

      Four-unit multifamily property in Artesia, New Mexico.
      1506 W Yucca Avenue, Artesia, NM 88210
      View Details
    • $299,000
      3,159 SF

      Artesia Multifamily Investment Opportunity

      Four-unit multifamily property in Artesia, NM with strong income potential.
      1509 W Hank Avenue, Artesia, NM 88210-1179
      View Details
    • $699,000
      6,000 SF

      Restaurant Building with Ample Parking

      6,000 SF restaurant building on 1.15 acre site.
      601 South 1st Street, Artesia, NM 88210
      View Details
    • $175,000
      3,159 SF

      Artesia Multifamily Investment Opportunity

      Four-unit apartment building in Artesia, New Mexico.
      1412 W Yucca Avenue, Artesia, NM 88210-1181
      View Details
    • $289,000
      3,159 SF

      Artesia Multifamily Investment Opportunity

      Four-unit multifamily property in Artesia, NM with recent upgrades.
      1505 W Hank Avenue, Artesia, NM 88210-1178
      View Details
    • $271,000
      3,159 SF

      Artesia Multifamily Investment Opportunity

      Four-unit multifamily property in Artesia, NM with recent upgrades.
      1501 W Hank Avenue, Artesia, NM 88210-1177
      View Details
    • $289,000
      3,159 SF

      Artesia Multifamily Investment Opportunity

      Four-unit multifamily property in Artesia, NM with recent upgrades.
      1407 W Hank Avenue, Artesia, NM 88210-1175
      View Details
    • $938,340
      14,500 SF

      Artesia Manufacturing and Industrial Property

      Manufacturing and industrial property in Artesia, NM, available for sale.
      11351-11353 Lovington Hwy, Artesia, NM
      View Details
    • $938,340
      14,500 SF

      Artesia Industrial Property Sale-Leaseback Opportunity

      Industrial property in Artesia, NM, with a sale-leaseback opportunity.
      11351 Lovington Hwy, Artesia, NM 88210
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit multifamily property in Artesia, NM with recent upgrades.
    Where is this quadplex located?
    The property is located at 1403 W Hank Avenue Artesia, NM.
    What is the asking price?
    The asking price for this property is $244,000.
    What are key features of this property?
    This property features: 4‑unit multifamily property for immediate rental income.; Split units added in 2024 enhance tenant comfort.; Varied unit mix: 1‑bedroom, two 2‑bedroom, and 3‑bedroom units.
    (575) 703-6121
    We can help!
    Listing Contact
    Karen Miller
    Karen Miller
    Real Estate License ID: 47241
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!