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2100 Stardust Ct Alamogordo, NM 88310

Sponsored
For Sale
$4,724,000

52-Unit Apartment Complex, High Cap Rate

Description

Added:
Dec 11, 2024
Days on Market:
392
This exceptional 52-unit apartment building presents a compelling investment opportunity in Alamogordo, New Mexico. Located on a 1.92-acre lot at 2100 Stardust Ct, this property boasts a strong 7.25% cap rate (7.98% pro-forma) with a current NOI of $342,544 ($377,100 pro-forma). The asking price is $4,724,000, translating to $90,846.15 per unit. Built in 1987 and extensively renovated in 2022, the complex comprises seven two-story buildings, zoned R-4. The unit mix includes 24 studios, 24 one-bedroom/one-bathroom units, and four two-bedroom units (two with garages). The property benefits from its proximity to Holloman Air Force Base and White Sands National Monument, contributing to a stable rental market. Recent upgrades include a new roof (2017-2019) and complete apartment renovations (2023-2024). An experienced off-site management company is in place. The property's financial performance is further enhanced by the potential for rent increases to market averages. The seven buildings are situated on a quiet cul-de-sac. APN numbers are 01N4057094015453, 01N4057094021435, 01N4057094030452, 01N4057094030435, 01N4057094041452, and 01N4057094041435. Offers are encouraged subject to inspections. Virtual tours are available online.

Property Features for 2100 Stardust Ct

General Information

Property type
Multifamily properties
Lot Size
83,635 SF

Building Details

Year Built/Renovated
1987/2022
Buildings
7
Stories
2
Units
52

HighLights

  • $4,724,000 asking price for a 52‑unit apartment building in Alamogordo, NM.
  • 7.25% cap rate, 7.98% pro‑forma cap rate, with a NOI of $342,544 and a pro‑forma NOI of $377,100.
  • Recently renovated (2022) 52‑unit multifamily property, consisting of 7 buildings on a 1.92‑acre lot.
  • Located near White Sands National Monument and Holloman Air Force Base.
  • Property features a mix of studio, one‑bedroom, and two‑bedroom units.
Property Profile Location Intelligence

Current Use by Public Records

Pine Apartment Complex

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Alamogordo
County
Otero
State
New Mexico
Longitude
-105.93462484764
Latitude
32.892283699381

FAQs

What type of property is this?
Multifamily property - 52-Unit Apartment Complex, High Cap Rate
Where is this multifamily property located?
The property is located at 2100 Stardust Ct Alamogordo, NM.
What is the asking price?
The asking price for this property is $4,724,000.
What are key features of this property?
This property features: $4,724,000 asking price for a 52-unit apartment building in Alamogordo, NM.; 7.25% cap rate, 7.98% pro-forma cap rate, with a NOI of $342,544 and a pro-forma NOI of $377,100.; Recently renovated (2022) 52-unit multifamily property, consisting of 7 buildings on a 1.92-acre lot.
More about this property
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