199 W Willoughby Ave

Subject: 10 units recently renovated in University Market

Good morning!

 

NM Apartment Advisors, Deacon Property Services, and Property Management & Investments of New Mexico are excited to bring this 

rare opportunity to own such a well-located and unique apartment compound so close to amazing restaurants, coffee shops and more retail amenities. Located at 199 Willoughby in Las Cruces, NM.

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 10-plex.

Discover this totally renovated community featuring ten stylish 1-bedroom, 1-bathroom apartments located just minutes from downtown Las Cruces.

 

Smart and efficient floor plans are highlighted by contemporary design features that offer comfort and energy efficiency, including: quality mechanical systems, double pane vinyl windows, upgraded security features, durable vinyl plank flooring, newer appliances, updated fixtures, and a fresh two tone paint scheme throughout.  

Recent total exterior rehab showcases the property’s tremendous curb appeal and inviting communal courtyard.  Eye-catching 2 color elastomeric paint  compliments the modern aesthetic, while residents love the new private backyard spaces, ample off street parking, new LED exterior lighting, and quality xeric landscaping.

Central Location

The property is centrally located just 0.3 miles to Historic Downtown Plaza Las Cruces,  3.3 miles to NMSU, 2.5 miles to I-25, 2.5 miles to Walmart Supercenter.

Do not miss out on a rare opportunity to own an investment gem in a growing market!

Measures of investment performance at list price of $1,040,000 and with average rent of $841 include GRM of 10.31, Before Reserves Cap rate of 6.51% and after tax IRR of 12.20%.  If the rents are raised to the market average of $995 the cap rates improves to 7.84%

The 19 page property flyer containing information on rents, expenses, renovations, virtual tour, floorplan and photos can be found here - http://www.nmapartment.com/apt/NMAA-Willoughby199.pdf

Virtual tour can be viewed at http://www.nmapartment.com/3dwill199

Qualified buyers can register for additional information on the property at (need from Kahleetah)

Prime location with exceptional walkability to downtown, as well as quick and easy access to I-25, NMSU, and great shopping.  This unique, updated complex boasts a near-turn key opportunity with a solid return straight away.  It’s the rare core asset the next lucky owner can enjoy for years to come with little to no headaches.

Thanks, 
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

and

Kyle Deacon
Qualifying Broker 

Deacon Property Services
(505) 878-0100
KyleD@deaconnm.com

10 renovated units

amazing location

core asset and value add runway