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1500 S Avenue K
Portales, NM 88130

Price Upon Request

Multifamily For Sale • 374,165 SF

Property Details

Property Type Multifamily

40 Walk Score

                
                    Highlights
                
                                Rare chance to acquire a 487-bed, 198-unit student housing portfolio spanning two communities with stabilized occupancy and turnkey rental income. 
                            
                                Diverse unit mix and updated amenities, in supply-constrained market at an extremely attractive basis from sellers who do not operate in this region.
                            
                                Positioned on ENMU campuses with long-term demand for student housing, providing near-exclusive occupancy through consistent enrollment. 
                            
                                Owners have invested $4m+ in Capex over the last few years, resulting in no deferred maintenance required – all the heavy lifting has been done.
                            
                                95% occupancy, local staff, and high upside, provide a very rare Cap-Rate and ROI potential for investors, 1031 exchange, and private equity groups.
                            
                                Recent improvements to fitness centers, clubhouse, pool, volleyball court, and parking, providing off-campus amenities at an on-campus location.

Ben Harkrider 512-637-1435 Newmark

1500 S Avenue K Portales, NM 88130

Price Upon Request

Property Details

Highlights

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1500 S Avenue K
Portales, NM 88130