40-Unit Mountain-View Apartment Complex: Sale, JV, or Partner Buy-In - Business for Sale
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40-Unit Apartment Complex with Expansion Land in Ruidoso, NM
Ruidoso, NM, US
Added 10 days ago
Apartment Complex Real Estate Investment and Management
66 years in business
A 40-unit apartment complex with additional buildable land is offered for sale, joint venture, or partner buy-in in Ruidoso, New Mexico, including established websites, signage, and potential for expansion or alternative uses.
Key Information
Asking
$5.5M
Revenue
$463K
Earnings
$373K
Multiple
14.6x
Key Highlights
- 40-unit apartment complex located in Ruidoso, New Mexico, on 5.5 acres of mountain-view land
- Includes an adjacent 3.5-acre parcel, offering additional land for expansion
- Current net operating income (NOI) is approximately $372,000 annually as of 3/31/2026
- Occupancy is currently around 80%, with most units under long-term leases and security deposits on file
- Property features 28,456 square feet of leasable space, a 2,236 sq ft lobby/office, a 2,400 sq ft storage building, and an on-site coin-operated laundry room
- Excess land is suitable for adding approximately 20 more units
- Current annual property taxes are approximately $8,000
- Business has been established for 66 years
Contact Info
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