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Inspiration Real Estate
1301-1325 Fillmore Avenue, Alamogordo, NM 88310
- $4,099,999
- 16
- BD
- 8
- BA
- 30,952
- SqFt
- List Price
- $4,099,999
- MLS#
- 1106535
- Property Type
- Multifamily
- Bedrooms
- 16
- Bathrooms
- 8
- Sqft. of Residence
- 30,952
- Lot Size
- 57,499
- Region
- Otero
- Status
- ACTIVE
Property Description
Freedom Flats is a 32-unit multifamily investment located at 1301 - 1325 Fillmore Avenue in Alamogordo, New Mexico. The property features four 2-story buildings with 8 units each, built in 1983 on 1.32 acres total. All 32 units are 2 bed 1 bath totaling 967 sf. The property has undergone over $1,200,000 in interior and exterior upgrades and is fully renovated as of 2024.Stabilized and cash-flowing, this investment offers a 7.21% current cap rate at 100% occupancy with a clean rent roll. The property is priced at $128,125 per unit and is priced below replacement cost. Current rents trail the comparables by $100-$155, and leases roll through 2026-2027, meaning rent growth is built in and requires no additional investment.
Additional Information
- County
- Otero
- Acres
- 1.32
- Interior Features
- Ceiling Fan(s)
- Exterior Features
- Lighting
- Appliances
- Dryer, Dishwasher, Free-Standing Electric Range, Microwave, Refrigerator, Washer
- Construction
- Frame, Slump Block
- Cooling
- Refrigerated, Ceiling Fan(s)
- Flooring
- Vinyl
- Heating
- Central, Forced Air
- Owner Pays
- Sewer, Trash Collection, Water
- Utilities
- Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Zoning
- R-4
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Listing courtesy of Deacon Property Services.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.