6 Photos
501 S Avenue G
Portales, NM 88130
$450,000
2 bd • 1 ba • 4,872 sqft • 0.48 acres
1 Story
Stories
$92
Per SQFT
1977
Year Built
06/03/2026
Listing Date
1104787
Listing #
88130
Zip Code
About This Property
Offered at an asking price of $450,000, the property generates a compelling 6.77% cap rate, providing investors with immediate cash flow and long-term upside potential. Fully remodeled within the last five years, this six-unit property consists of three duplexes situated on a single lot and is 100% occupied as of February 2026. Featuring all 2-bedroom, 1-bathroom units, the property benefits from strong historical occupancy driven by its location less than a half-mile from Eastern New Mexico University, making it an attractive and proven student housing investment.
Interior
Bathrooms Total:
1
Appliances:
Free-Standing Gas Range, Microwave, Refrigerator
Flooring:
Vinyl
Building And Construction
Property Type:
Residential Income
Property Sub Type:
Multi Family
Property Sub Type Additional:
Multi Family
Building Area Total:
4,872 sqft
Year Built:
1977
Levels:
One
Number Of Units Total:
6
Stories:
1
Property Condition:
Resale
Exterior And Lot
Lot Size Acres:
0.48
Lot Size Square Feet:
21,000 sqft
Provisional
MLS #:
1104787
Listing Terms:
Cash, Conventional, FHA, VA Loan
Number Of Buildings:
3
Tenant Pays:
Electricity, Gas, Sewer, Water
Total Actual Rent:
4140
Area And Schools
City:
Portales
Postal Code:
88130
MLS Area Major:
Roosevelt
County:
Roosevelt
Parcel Number:
100000000528200
Utilities
Utilities:
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Cooling:
Refrigerated
Heating:
Forced Air
Heating (Y/N):
Yes
Location
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Directions: From US-70 in Portales, head south on S Main Ave. Turn west on W 5th Street, then south on S Avenue G. Property is located on the west side of S Avenue G at 501 S Avenue G.
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Listing courtesy of NAI SunVista Commercial RE
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.
Daria Derebera
Real Estate Broker in Albuquerque, NM