Contacts
New Mexico Apartment Advisors
Property Details
- Property Type Multi-Family
- Property Size 5,995 SF
- Units 14
- Lot Size 0.62 Acre
- Cap Rate % 6.54
- Additional Rent Contact for pricing
- Year Built 1959
- Date Updated Nov 27, 2024
On behalf of the Owner, NM Apartment Advisors, Deacon Property Services, and PMI of New
Mexico are excited to bring to the market this stunning 14-unit complex.
This strikingly revitalized one structure complex is a must see! Comprised of 2, 2/2’s, 11, 1/1’s,
and 1 studio, allows for a diverse household makeup. Keeping the original name of The Casa
Blanca Adobe Apartments, you get the keen sense of an adobe style structure with modern amenities and upgrades. Located just .3 miles from NMSU with a short 3-minute drive or 11-minute
walk making it easy to get to class, tour the campus, fish at the Aggie duck pond, or grab a bite to
eat at the Corbett Center Student Union.
The revitalizing component spans from top to bottom. A new roof in 2023 with 12 new master cool
units, full exterior two-color elastomeric paint, updated wood fencing, landscaping rock in front,
updated exterior lighting with plenty of additional exterior lighting provided by El Paso Electric,
more than enough on-site and street parking, and new signage bringing the exterior upgrades all
together.
Interior upgrades take this 65-year-old property from old to new as soon as you enter each unit.
You will find stylish vinyl plank flooring, tile, modern two-color semi-gloss paint, updated countertops, plumbing and electrical fixture upgrades, tiled shower surrounds, new vanity cabinets, and
other upgrades to ensure tenants get the feel of a quaint, comfortable, and updated living space.
The final interior upgrade that also allows for an additional income stream and provides an additional amenity to tenants is the new laundry room addition which provides two, coin operated
washers and dryers located on-site with private tenant access only.
Potential further value add opportunities in which a new owner can capitalize on would be the updating of all the units to refrigerated air via the way of mini splits (2 units already converted), adding individualized back and front fenced in yards so that pets are more easily allowed and provides
tenants with a more dedicated space, and the installation of storage closets/sheds, either attached
to the building or stand alone, in the back of the complex in which can be leased out to tenants.
Proximity, updates, modernization, and value
add opportunity makes this complex a homerun!
Do not miss out on the opportunity to by in a
market facing a shortage of rental units in the
thousands.
Reach out to the broker for more info on lease terms and amenities
Getting around
-
Bike Score ®
Location
- City Las Cruces, NM
- Zip Code 88001
- Market Albuquerque
Points of Interest
-
Circle K
9.47 miles
-
Chucky's Food Mart
9.50 miles
-
OHV Staging Area
6.79 miles
Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.
New Mexico Apartment Advisors