3069 Del Rey Boulevard
Terrace View Apartments
Marketing description
NAI 1st Valley Realty is pleased to present the opportunity to acquire Terrace View Apartments, a 60-unit multifamily development currently under construction in the rapidly growing Las Cruces, New Mexico market. Positioned on 2.9 acres along Del Rey Boulevard, this project serves a strong residential corridor in the expanding eastern portion of the city. The current owner, a construction company, has elected to focus resources on a recently secured major federal border wall contract, creating a rare opportunity for a new investor to take over a development with engineering completed and site work already substantially underway. This acquisition allows a developer to step into a partially completed project and significantly shorten the overall timeline to completion and stabilization.
Investment highlights
• Project Scope: 60 large modern apartment units totaling approximately 67,560 square feet.
• Development Status: Fully entitled and permitted with active construction in progress.
• Completed Site Work: Includes professional grading, infrastructure preparation, and poured concrete slab foundations for the residential buildings.
• Unit Mix: Spacious one- and two-bedroom units designed to appeal to professionals, medical staff, and families.
• Location Advantage: Situated on ±2.9 acres within a prominent residential corridor in eastern Las Cruces.
• Readiness: All permits are in place, engineering is completed, and site work is substantially underway, offering an accelerated path to project finalization.
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