950-954 Augustine , Las Cruces, NM

Amazing opportunity in Las Cruces NM – 7 recently renovated units $802,896  – 12.6% after tax IRR

On behalf of the Owner, NM Apartment Advisors, Deacon Property Services, and PMI of New Mexico are excited to bring to the market this Las Cruces 7-plex.  This renovated property is centrally located with a short 1 mile walk to the revitalized downtown area of Las Cruces where shops, eateries, and local breweries can be found.

Comprised of 2 buildings in which one is a triplex and the other a quadplex,  each building boasts reconditioned and updated units.  Some of these updates in varying units include flooring, HVAC, appliances, water heaters, electrical upgrades, countertops, fixtures, and fresh exterior and interior paint.  The Owner has left ample opportunity for value-add possibilities.  Refrigerated air upgrades, fencing in yards, completing window replacements, and adding storage sheds are just a few of these opportunities.

Take advantage of the opportunity to own this updated multi-unit complex with value-add potential that is centrally located in a town with an approximate housing shortage of 5,600 units.

Measures of investment performance at list price of $802,896 and with average rent of $833 include GRM of 11.48, Before Reserves Cap rate of 5.91% and after tax IRR of 12.60%.

If rents are raised to market average of $938, the cap rates goes to 6.27%.

The 22 page property flyer containing information on rents, expenses, renovations, virtual tour, floorplan and photos can be found here – http://www.nmapartment.com/apt/NMAA-Augustine950LC.pdf

Virtual tour can be viewed at http://www.nmapartment.com/954augustine3d

Qualified investors can register for additional information on the property at http://www.nmapartment.com/950augustine

Do not wait – opportunities to invest in college markets like this are very rare.

Thanks,

Todd Clarke CCIM CIPs, CEO, Qualifying Broker

NM Apartment Advisors, Inc.

505-440-8633

[email protected]

and

Kyle Deacon, Qualifying Broker

Deacon Property Services

(505) 878-0100

[email protected]

and

Marvid Charlson, Qualifying Broker

Property Management & Investments of NM

(575) 652-4043

[email protected]