Historical Multifamily Sale Listing - Puerta Del Sol Apartments

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Puerta Del Sol Apartments

505 W. Griggs, Las Cruces, NM 88005

N/A

51 Units | Multifamily

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Multifamily Property - Off Market

Price:
N/A
No. Units:
51
Building Size:
39,200 SF
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
8.50%
No. Stories:
2
Year Built:
1972
Listing ID
14255857
Last Updated
over 1 year ago

Highlights

  • Growing Area
  • Great Location
  • Well Maintained
  • Strong Occupancy

Description

Puerta Del Sol Apartments is a 51 unit complex located in the heart of Las Cruces, New Mexico. With a quaint atmosphere, starting with its impressive courtyard/pool area, Puerta Del Sol offers a tremdous investment opportunity. Over the past 12 months, nearly $100,000 in capital improvements have been put into the property including carpeting, painting, appliances, lanscaping and complete renovation and painting of the exterior.

Las Cruces, New Mexico is one of the fastest growing MSA in the nation. Nationally recognitions include: 2004 Milken Institute - Ranked #2 in Small Metro areas for Business. 2003 Milken Institute - "One of top 3 small metro areas for Business; 2002 Forbes - "Best small metro area for Business"; 2002 Money Magazine - "Top Area In U.S. to Retire". Puerta Del Sol Apartments are located in the historic Alameda Depot District and downtown area which is experiencing a revitalization. New construction of a Federal Courthouse, City Hall, and other commercial, office and entertainment.

Map of 505 W. Griggs, Las Cruces, NM 88005 (Dona Ana County)

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Created 6/30/2005