About 1301-1325 Fillmore Avenue
Freedom Flats is a 32-unit multifamily investment located at 1301 - 1325 Fillmore Avenue in Alamogordo, New Mexico. The property features four 2-story buildings with 8 units each, built in 1983 on 1.32 acres total. All 32 units are 2 bed 1 bath totaling 967 sf. The property has undergone over $1,200,000 in interior and exterior upgrades and is fully renovated as of 2024.Stabilized and cash-flowing, this investment offers a 7.21% current cap rate at 100% occupancy with a clean rent roll. The property is priced at $128,125 per unit and is priced below replacement cost. Current rents trail the comparables by $100-$155, and leases roll through 2026-2027, meaning rent growth is built in and requires no additional investment.
Features of 1301-1325 Fillmore Avenue
| MLS® # | 1106535 |
|---|---|
| Price | $4,099,999 |
| Original Price | $4,099,999 |
| Price Per Sq.Ft. | $132.46 |
| Bedrooms | 16 |
| Bathrooms | 8.00 |
| Square Footage | 30,952 |
| Acres | 1.32 |
| Year Built | 1983 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
| Is Green | No |
| Guest House | No |
Community Information
| Address | 1301-1325 Fillmore Avenue |
|---|---|
| Area | 550 - Otero |
| City | Alamogordo |
| County | Otero |
| State | NM |
| Zip Code | 88310 |
Amenities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Features | Laundry Facilities |
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Vinyl |
|---|---|
| Interior Features | Ceiling Fan(s) |
| Appliances | Dryer, Dishwasher, Free-Standing Electric Range, Microwave, Refrigerator, Washer |
| Heating | Central, Forced Air |
| Cooling | Refrigerated, Ceiling Fan(s) |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Exterior Features | Lighting |
|---|---|
| Construction | Frame, Slump Block |
| Builder | Unknown |
Additional Information
| Date Listed | July 1st, 2026 |
|---|---|
| Days on Market | 70 |
| RE / Bank Owned | No |
| Finance Considered | Cash, Conventional |
| Current Taxes | $14,787 |
Listing Details
| Office | Deacon Property Services |
|---|