101 Ct Ruidoso, NM 88345

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.