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    503 Mims St Truth or Consequences, NM 87901

    For Sale
    $464,000

    Apartment - Truth Or Consequences, NM

    Type:Apartment
    Property size:
    2,530 SF
    Lot size:
    0.43 Acres
    Days on Market:
    57
    Last Refresh:
    Dec 5 at 3:06 am

    Property Features for 503 Mims St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Apartment
    Standard status
    Active
    APN
    3022079146065
    Parking
    12
    Size
    2,530 SF
    Lot size
    0.43 Acres

    Utilities

    Heating system
    Natural Gas, Other (Heating)

    Building Details

    Flooring type
    Wood
    Building materials
    Frame, Stucco
    Architectural style
    Other

    Homesteaders Realty (575) 740-0003 [email protected]

    Listing agent Rachel Woodard (575) 744-5283

    Listing date Oct 10, 2025

    MLS# 20255371 Listing URL

    Copyright © 2025 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

    Downtown Truth or Consequences Investment Property

    Located in downtown Truth or Consequences, New Mexico, this 8-unit residential complex presents an investment opportunity. The property is currently operating at full occupancy, with all eight units successfully leased. Its location provides residents with walking access to local shopping, dining establishments, and natural hot mineral baths. The property offers the potential to drill a private hot water well. Residents can enjoy views of Turtleback Mountain. The property size is 2530 square feet on a 0.432-acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Truth or Consequences
    County
    Sierra
    State
    New Mexico
    Longitude
    -107.251893
    Latitude
    33.126867

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    FAQs

    What type of property is this?
    Apartment building - 8-unit residential complex in downtown Truth or Consequences, New Mexico.
    Where is this apartment building located?
    The property is located at 503 Mims St Truth or Consequences, NM.
    What is the asking price?
    The asking price for this property is $464,000.
    What are key features of this property?
    This property features: - Full occupancy with all 8 units currently leased, providing immediate and reliable cash flow.; - Prime downtown location offers walking access to shopping, dining, and natural hot mineral baths.; - Unique potential to drill a private hot water well, enhancing property value and appeal.
    (575) 744-5283
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    503 Mims St Truth or Consequences, NM 87901
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    Realmo Value Estimation

    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.

    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.

    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
    503 Mims St Truth or Consequences, NM 87901
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