6325 Reynolds Drive, Las Cruces, NM 88012

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Tom W.

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Building Details:

• Year Built: 2009

6325 Reynolds Drive is amulti-family property for lease in Las Cruces, NM.

Brand new apartment building, just built. Perfect for
new personal at White Sands Base. Building will consist of 12-2 bedroom units and 4-3 bedroom units. Completion date was 4th quarter of 2009. Construction appraisal of $1,595,000. Purchase now and save over $200k. Contact agent for plans and layout. Now fully leased.

We will also have another building with the same specs at 6345 Reynolds Drive.
The first building is complete. Granite counters,extensive use of tile, individual meters, ceiling fans, and Seller is also paving with concrete instead of asphalt. Each unit has individual meters for gas and electricty.

Seller's Broker has worked with a Lender that will offer 30 year AM, 5 year Call, Mid 5% interest, and an assumable loan. Great Terms.

Lawrence Yun, NAR chief economist, said there is one bright spot in commercial real estate. “The multifamily sector can expect increased demand as the economy creates jobs and new households are formed, likely in the second half of this year.
Multifamily Market
The apartment rental market – multifamily housing – is expected to benefit from an improving economy and job market. Multifamily vacancy rates are forecast to decline from 7.3 percent in the first quarter of this year to 6.3 percent in the first quarter of 2011.

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