Listings courtesy of Patino Real Estate, a licensed New Mexico brokerage.
$1,700,000
2510/2530 S Espina Street, Las Cruces, NM 88001
1.45acres
Apartment Complextype
Financing on this kind of property does not work like a house payment: terms, down payment and length all differ by lender.
Ask us what terms look like
🏠Apartment Complex
🔨Built in 1900
🌳1.45 acre lot
🏢HOA: ask us
🚗Parking: ask us
What's special
CourtyardSolarAcreageUpdated
Excellent investment property located just two blocks from NMSU! 2510 & 2530 S Espina is a 21-unit multifamily compound featuring studios, one-bed, and larger units with historic charm--hardwood floors, plaster walls, and landscaped courtyards. Rents average $689 against a market of $874, offering clear upside. Recent upgrades include new roof (2021), solar panels, drip irrigation, exterior lighting, and updated fixtures. Tenants enjoy secure storage, ample parking, and proximity to University Avenue dining, healthcare, and major employers. Offered at $1,700,000 with a 6.08% cap rate, this campus-adjacent asset qualifies for Ventana Fund financing and sits on +/-1.44 acres of R-3-zoned land. A rare chance to own a stabilized, character-rich property priced below replacement cost in the heart of Las Cruces.
1 day on the market Updated Oct 13, 2026
Source: Southern New Mexico MLS · MLS#: LCN2603208 · Status: Active
Facts and features
The property
- Type
- Apartment Complex
- Cooling
- Evaporative CoolingWindow Unit(s)
- Heating
- ElectricForced AirGas Available
- Appliances
- RangeRefrigerator
Exterior and lot
- Lot
- 1.45 acre lot
- Construction
- AdobeStucco
- Roof
- AsphaltShingleFlat
- Fencing
- Chain LinkRock
- Parking
- None
- Sewer
- Public Sewer
- Water
- Public
- Condition
- Good to Excellent
Community and schools
- City
- Las Cruces, NM 88001
- Subdivision
- Lester Addition
Financial
- Price
- $1,700,000
- HOA
- Ask us
Buyer representation: ask us how it works on this home. You get it in writing before you tour.
Price history
| Date | Event | Price |
|---|---|---|
| Oct 12, 2026 | Listed for sale | $1,700,000 |
Similar homes in Las Cruces
Explore the area
Listing courtesy of Property Mgt & Investments of NM (Marvid Charlson) · MLS# LCN2603208 · Active
Listing information from Southern New Mexico MLS, deemed reliable but not guaranteed and should be independently verified. Properties are subject to prior sale or withdrawal. Aerial imagery by Esri where MLS photos are not yet available. Patino Real Estate, Manny Patino Qualifying Broker, (575) 520-7604.
