Dustie CarpenterLas Cruces Luxury Real Estate
Dustie Carpenter, Associate Broker
575-650-1087
Prosper Real Estate
Prosper Real Estate · Office 575-222-7277
2510/2530 S Espina Street, Las Cruces
Active · MLS# 2603208

2510/2530 S Espina Street

Las Cruces, NM 88001 · Lester Addition
$1,700,000
1.45
Acres
1900
Year built

About this property

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.

Details

Property type
Apartment Complex
Cooling
Evaporative Cooling, Window Unit(s)
Heating
Electric, Forced Air, Gas Available
Roof
Asphalt, Shingle, Flat
Construction
Adobe, Stucco
Fencing
Chain Link, Rock
Water
Public
Sewer
Public Sewer
New or resale
Resale
HOA
None
Subdivision
Lester Addition
MLS area
331 - Univ. Hills
County
Dona Ana

On the market

Listed
October 12, 2026
Days on market
2
Original list price
$1,700,000
Current list price
$1,700,000

Photographs

41 in all
2510/2530 S Espina Street, photograph 22510/2530 S Espina Street, photograph 32510/2530 S Espina Street, photograph 42510/2530 S Espina Street, photograph 52510/2530 S Espina Street, photograph 62510/2530 S Espina Street, photograph 72510/2530 S Espina Street, photograph 82510/2530 S Espina Street, photograph 92510/2530 S Espina Street, photograph 10
Show 31 more photographs
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