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Wyndchase

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Address: 201 Three Crosses Ave, Las Cruces, NM 88005, USA

Phoenix & Southwest + Apartment Buildings

Created date: April 3, 2025

Date last updated: April 8, 2025

Assumable Fannie Mae Loan at 5.79% Interest with Eight Years Remaining
$350/Unit/Month Under Market Rents
$2.1MM in Improvement Upside
All 2BD and 3BD Units Over 1,000 SF
Every Unit Includes a Washer and Dryer
Option to Buy 6.82-Acres of Contiguous Land
Adjacent 75+ Acres Designated for Future Mixed-Used Development
High Visibility On Three Crosses Ave (11,000+ VPD)
Less than a Mile from the Newly Built Three Crosses Regional Hospital and within Walking Distance of HTeaO, Burger King, Albertson’s, and Whataburger
Easy Access to I-10, I-20 and US-70
225,000+ MSA Population

Property Description

Summary: The Multifamily Group is pleased to present the exclusive offering of Wyndchase, a unique, value-add opportunity in Las Cruces, New Mexico. Built in 2014, this 40-unit property features spacious two- and three-bedroom floorplans, with an average unit size of 1,137 square feet. Currently 85% occupied, Wyndchase benefits from a strong submarket with a 97% occupancy rate. The property also includes an assumable Fannie Mae loan of $3,500,000 at a 5.79% interest rate, with eight years remaining on the term. Value-Add: Renovate all 40 units to increase the rents by at least $350/unit/month Economic Growth and New Developments: Las Cruces has experienced steady economic development, with a particular emphasis on the aerospace and technology sectors. The city has become a hub for aerospace companies, earning the nickname “place for space” due to its involvement in space tourism and innovation. The rebranding of the West Mesa Industrial Park to the Las Cruces Innovation and Industrial Park reflects this direction, offering large parcels of land with utilities and easy access to Interstate-10, ideal for aerospace industry development. An adjacent 75.09± acre site called Royal Crossing is designated for future mixed-use development, offering land lease or build-to-suit parcels for sale. With flexible sizing and zoning, this development is expected to include retail, entertainment, and office space which will enhance the area’s growth and attract a variety of commercial and residential opportunities. The technology sector in Las Cruces is also thriving, with startups in industries like renewable energy and software development. Supported by resources such as incubators, mentorship, and tax incentives, the local tech sector is projected to contribute $1.2 billion to the economy, creating high-paying jobs and fostering innovation.

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Key Property Information

Listing Status:	Available
Listing Type:	Auction
Property Types:	Apartment Buildings
No. of Units:	40
Average Occupancy:	85
Year Built:	2014
Building Size:	45,470 Sq ft
Lot Size:	1.94 Acres
No. of Stories:	3
APN:	R0200676
Opportunity Zone:	No