1040 N Mesilla Street, 1-7, Las Cruces, NM 88005
$478,350
Property Type:
Multi-Family
Bedrooms:
13
Baths:
7
Square Footage:
4,640
Lot Size (sq. ft.):
20,473
Status:
Active
Current Price:
$478,350
List Date:
1/17/2026
Last Modified:
3/08/2026
Description
PRIDE OF OWNERSHIP - This family-owned 7-unit complex near downtown Las Cruces has been impeccably maintained inside & out. With seldom a vacancy, this six 2 bedroom and one, 1 bedroom complex generates just under $50,000 in gross income annually, Plenty of on-site parking including individual enclosed carports. Additional amenities include separate meters, individual heat & air, an onsite coin-op laundry, upgraded flooring, and little to no deferred maintenance. Add in a cap in the neighborhood of 8.5% & you have an investment that's hard to beat.
More Information MLS# 2600178
Contract Information
Qualifying Broker Name: Gary Sandler
Qualifying Broker License #: 15204
Qualifying Broker Address: 201 N. Church St, Ste 202, Las Cruces, NM 88001
Property Sub-Type: Apartment Complex
Number of Units: 7
Marketing Date: 2026-06-15
List Price: $478,350
CurrentPrice: 478350
Status: Active
List Date: 2026-01-15
Location, Tax & Legal
Address 2: 1050
Unit #: 1-7
Zip +4: 2174
Account Number: R0201498
Parcel Number: 4-006-134-385-513
Legal: Legal Uploaded to Associated Docs
Street #: 1040
Street Dir Prefix: N
Street Name: Mesilla
Street Suffix: Street
County: Dona Ana
State: NM
Zip Code: 88005
MLS Area Major: 119 - Alameda
Subdivision: Hess Teracce
General Property Info
HOA: No
Lot SqFt: 20473
Actual Lot Size Source: Public Records
Lot Acres: 0.47
Property in PID: No
Use of Electronic Document Transmission: Yes
Green Certified: No
Lot Size: .25 to .50 AC
Owner Financing: Yes
Parking Capacity: 10
Age: 61 to 70 Years
#1 Br SqFt: 600
#2 Br SqFt: 700
Earnest Money Payable To: SWAT - Patricia Saenz
3rd Party Approval: No
Short Sale: No
Rent/1 BR Each: 725
REO/Bank Owned: No
Rent/2 BR Each: 686
Court Approval: No
Gross Income Month: 4840
Apx Sqft - Main: 4640
# Bedrooms: 13
Total Baths: 7
Year Built: 1960
Remarks & Misc
Agent Wrote all Remarks: Yes
Advertising Remarks: PRIDE OF OWNERSHIP - This family-owned 7-unit complex near downtown Las Cruces has been impeccably maintained inside & out. With seldom a vacancy, this six 2 bedroom and one, 1 bedroom complex generates just over $58,000 in gross income annually, Plenty of on-site parking including individual enclosed carports. Additional amenities include separate meters, individual heat & air, an onsite coin-op laundry, upgraded flooring, and little or no deferred maintenance. Add in a cap in the neighborhood of 8.2% & you have an investment that's hard to beat.For more information contact Gay Sandler at 755-642-2292 or [email protected]
Parking Type
Carport: 1
Street Parking: 1
Fence
Back Yard: 1
Block: 1
Front Yard: 1
Side: 1
Wood: 1
Miscellaneous
Individual Heat & Air: 1
Individual Water Heater: 1
Meters Separate: 1
Possession
At Funding: 1
Will Sell
Cash: 1
Conventional: 1
Owner Carry 1st: 1
Occupancy
Over 95% Occupancy: 1
Construction
Block: 1
Frame: 1
Stucco: 1
Cooling
Evaporative Central: 1
Type of Tenancy
Month To Month: 1
# of Floors
One: 1
Condition
Good to Excellent: 1
Heating
Baseboard: 1
Electric: 1
Roofing
Foam: 1
Pitched: 1
Flooring/Foundation
Carpeting: 1
Ceramic Tile: 1
Laminate/Wood Floors: 1
Appliances
Oven/Range: 1
Refrigerator: 1
Util/Serv Included In Rent
Other - See Remarks: With on exception, all tenants pay their own utils
Unit Features
Carpets: 1
Common Outside Laundry: 1
Private Bath: 1
Private Outside Entry: 1
Water
City Water: 1
Amenities (Common)
Central Laundry: 1
Sewer
City Sewer: 1
Property Features
Parking Type: Carport; Street Parking
Fence: Back Yard; Front Yard; Side
Possession: At Funding
Will Sell: Cash; Conventional; Owner Carry 1st
Occupancy: Over 95% Occupancy
Type of Tenancy: Month To Month
Condition: Good to Excellent
Construction: Frame; Stucco
Heating: Baseboard; Electric
Cooling: Evaporative Central
Appliances: Refrigerator
Unit Features: Carpets; Common Outside Laundry; Private Bath; Private Outside Entry
Amenities (Common): Central Laundry
Sewer: City Sewer
Miscellaneous: Individual Water Heater; Meters Separate
Documents
Survey Plat ›
Listing Office:
Gary Sandler Inc., Realtors
Last Updated: March - 08 - 2026
Information deemed reliable but not guaranteed.