Four-Plex Residential Income
For Sale
Contact for pricing
317 Gayland Drive, Clovis, NM 88101
Well-maintained four-unit income property with long-term tenants and the ability to adjust monthly rents.
Property Size3,249 SF
Price / SF$67.71
Days on Market40
Property Features for 317 Gayland Drive
General Information
Standard status
Active
Size
3,249 SF
Property subtype
Multifamily
Financials
Cap Rate
12%
Business Included
Yes
Additional Details
Multifamily Units
4
Building Details
Year Built
1965
Units
4
Tenancy
Multi
Listing Agency:
Town & Country Real Estate, Inc.
(575) 799-5304
Listed By:
Jerry Cass · License #14145
Source:
Crexi
Added: Jul 1
Changed: Aug 8
Last Checked: Aug 8 at 3:51PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Town & Country Real Estate, Inc.
Investment Insights
Based on property information with market context.
This four-plex (quadplex) features a well-maintained condition and is currently operated with long-term tenants. The property is offered for sale with a total building size of 3,249 square feet.
Located at 317 Gayland Drive in Clovis, New Mexico (88101), the asset presents as a straightforward residential income holding with four rental units under one roof.
The current rental rates are described as being below market, and the listing notes that rental rates could be adjusted to $750 per month. Seller-provided projections indicate that if rents are adjusted to $750, the cap rate would be 12%. For qualified buyers and investors, this makes the property a practical option for those seeking a manageable four-unit structure with stable tenant history and a clear, formula-based rent-adjustment scenario tied to the seller’s underwriting.
Located at 317 Gayland Drive in Clovis, New Mexico (88101), the asset presents as a straightforward residential income holding with four rental units under one roof.
The current rental rates are described as being below market, and the listing notes that rental rates could be adjusted to $750 per month. Seller-provided projections indicate that if rents are adjusted to $750, the cap rate would be 12%. For qualified buyers and investors, this makes the property a practical option for those seeking a manageable four-unit structure with stable tenant history and a clear, formula-based rent-adjustment scenario tied to the seller’s underwriting.
Key Highlights
- Four‑unit (4‑plex) income property built in 1965
- Long‑term tenants in place
- Rents may be adjusted to $750/month to target a 12% cap rate
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
372
Businesses Nearby
Explore this area
Business Placement
Demographics for 88101, NM
45,651
Population
19,798
Households
2.3
Avg Household Size
33
Median Age
21%
College-Educated
82%
High-School Grad
539.3 sq mi
ZIP Area
85
Density / Sq Mi
$55,349
Median Household Income
$35,816
Median Earnings
$991
Median Rent
$162,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained four-unit income property with long-term tenants and the ability to adjust monthly rents.
Where is this quadplex located?
The property is located at 317 Gayland Drive Clovis, NM.
What is the asking price?
The asking price for this property is $220,000.
What are key features of this property?
This property features: Four‑unit (4‑plex) income property built in 1965; Long‑term tenants in place; Rents may be adjusted to $750/month to target a 12% cap rate
