2100 Stardust Ct Alamogordo, NM 88310

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.