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$ 464,000
Est. payment /mo
Active
503 Mims Truth Or Consequences, NM 87901
2,530 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Square Footage 2,530 sqft
Price per Sqft $183
MLS Listing ID 20255371
Year Built 1920
Annual Tax Amount $2,845
Tax Year 24
Lot Size 2,530 Sqft
Lot Dimensions 0.432
Property Sub-Type Apartment
Property Description
Prime Investment Opportunity: 8-Unit Residential Complex in Downtown Truth or Consequences Discover an exceptional investment property in the heart of Truth or Consequences, New Mexico. This well-positioned 8-unit residential complex offers both immediate returns and tremendous long-term potential in one of the Southwest's most unique destinations. Strategic Location & Amenities Situated in the vibrant downtown district, this property provides residents with unparalleled convenience. Tenants enjoy easy walking access to local shopping, dining establishments, and the renowned natural hot mineral baths that draw visitors from across the region. The central location ensures consistent rental demand while offering the charm of small-town living with modern conveniences. Proven Income Performance Currently operating at full occupancy with all eight units successfully leased, this property demonstrates strong market appeal and reliable cash flow. The established tenant base reflects the desirability of both the location and the quality of the accommodations, providing new owners with immediate income generation. Unique Development Potential The property presents an extraordinary opportunity to drill a private hot water well, potentially tapping into the same geothermal resources that have made Truth or Consequences famous. This feature could significantly enhance the property's value and appeal, setting it apart from conventional rental investments. Scenic Mountain Vistas Residents and visitors alike will appreciate the stunning panoramic views of Turtleback Mountain, adding natural beauty and tranquility to the urban convenience. These picturesque surroundings contribute to the property's rental appeal and long-term value appreciation potential. This turnkey investment opportunity combines steady income, growth potential, and the unique character that makes Truth or Consequences a distinctive and increasingly popular destination. Perfect for investors seeking a property with both immediate returns and exciting future possibilities.
Location
State NM
County Sierra County
Area New Mexico Mls
Interior
Inclusions Building, Land
Exterior
Garage Spaces 12.0
Utilities Available Electricity, Natural Gas, Sewer, Water-City
Building
Structure Type Floor-Wood,Frame,Stucco,Crawlspace
Others
SqFt Source AO
Listed by HOMESTEADERS REALTY
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