Current Use by Public Records
- Apartment buildings
Property Details for 101 Ct
- Year built
- 1987
- Property type
- Apartment buildings
Description
This exceptional multifamily investment opportunity presents a stabilized 13-unit apartment building situated on a sizable 40,153 square foot lot in the desirable Ruidoso, New Mexico market. The property, comprised of four buildings with a total of 15,052 square feet, boasts 12,568 square feet of net rentable space and currently enjoys a 94% occupancy rate as of July 23, 2023. Built in 1987 and renovated four years ago, the property features two-story buildings, each offering two full-sized bedrooms, fireplaces, full kitchens, and patios. The units are categorized as Class B and are zoned R-2. The property generates a substantial net operating income (NOI) of $146,911, resulting in a compelling 6.45% cap rate. The sale price per square foot is $151.14. Four additional parking pads are available for residents. Tenants are responsible for electricity, gas, cable, and telephone services, while the owner covers water, sewer, and trash. This is a turnkey investment with strong potential for future growth in a sought-after mountain location. The property's address is 101 & 100 Monica's Court, Ruidoso, NM 88345, and the APN is 4071065189172000000.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Ruidoso
- County
- Lincoln
- State
- New Mexico
- Longitude
- -105.686
- Latitude
- 33.3296
