1625 Gladys Dr, Las Cruces, NM 88001

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Building Details:

• Year Built: 1979

The Pines Apartments are very well maintained, historical high occupancy, low maintenance 2 bedroom/1 bath apartments in excellent location. The property has had long term ownership who has maintained the property at a high level. Upgrades include a evaporative cooler replacements in 2010, parking lot overlay in 2012, new roof in 2014, exterior painting 2016. The apartments are all electric and tenant pays for electric, direct metered by utility. Complex pays for water, sewer, trash. Minimal landscaping and very low maintenance apartments. Rents are below market levels with rents ranging from $475 - $495. Excellent investment opportunity. Property sold on T12 at 7.5% cap rate. Owner/Broker