2220 Sambrano Avenue Unit A-D Las Cruces, NM 88001

This value-add opportunity is a core asset in that its 100% occupied and has had recent renovations, but could also be a value add in branding, signage and bringing the current rents that are 12% below market to market. Located in New Mexico's 2nd largest city, Las Cruces which is home to NM State U...niversity and its ~11,000 students this property is well situated close to campus and not too far away from the recently announced $75M movie studio (www.nmapartment.com/lcstudio). Las Cruces is also the Chile Capitol, is known for its pecan orchards and is the closest major city to Spaceport New Mexico, home of Virgin Galatic operations.These eight units are situated on two parcels and the owner is willing to sell the fourplexes individually at the following prices:2210 - $465,354 - 5.35% cap rate - $116,339 per unit - $155.12/sf2220 - $433,535 -5.33% cap rate - $108,886 per unit - $145.18/sfThe owner has recently spent $50,000 in upgrades and renovations. Continue reading