Multi-Housing

Las Ventanas & Puerta Villa at Cimarron

2000 Saul Kleinfeld Dr El Paso, Texas United States 79936-3763
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
N/A
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 1996
Number of units 466

Property Description

Las Ventanas - Well-Maintained, Strong performing Asset – Las Ventanas is in excellent physical condition and offers a low-density setting with ample open space, creating a desirable environment for residents. Additionally, residents are afforded a full amenity set that includes a swimming pool, outdoor grilling areas, fitness center, and covered parking. The Property has maintained 96% occupancy or higher over the most recent 12 months and increased rents 3% in November 2020 and 2% in May 2021.


True Value-Add Opportunity, Original Interiors – Completed in 1996, the Property is being offered for sale by the original developer with the majority of the interiors in classic condition presenting a new owner with an outstanding opportunity to increase rental rates through a full interior renovation program, which could include the following: black or stainless-steel appliance upgrade, granite countertops, faux wood flooring in upper level units, upgraded lighting, fixtures and hardware, tile backsplash, 2" faux wood blinds, adding washer/dryer.


Puerta Villa at Cimarron - Exceptional Upper West Side Location – Puerta Villa at Cimarron is positioned in the heart of the prestigious Northwestern portion of El Paso that is home to some of the most affluent neighborhoods within the City in addition to being one of the fastest growing areas in El Paso. Additionally, the upper west side is home to the most prominent retail and entertainment destinations in El Paso and is also the site of the newest mixed-use development (Cimarron) in the City. For these reasons the Property has had strong historical occupancy and has been 96% occupied or higher over the most recent 12 months with 3.0% rent increase in November 2020 and a 3.5% increase in May 2021.


Value-Add Opportunity With Ability to Push Rents – Puerta Villa at Cimarron provides new ownership the ability to acquire a strong performing asset with the ability to achieve healthy rent premiums by implementing an interior renovation program at the Property. Puerta Villa at Cimarron has averaged over 95% occupancy since 2018 and potential upgrades at the Property include: stainless-steel appliances, granite countertops, faux wood flooring in upper level units, painted cabinets with upgraded hardware, upgraded lighting and plumbing fixtures, tile backsplash, 2" faux wood blinds, adding washer/dryer.

Investment Highlights

Las Ventanas

Community Features:

▸ Resort-style swimming pool & kiddie pool

▸ 24-hour state-of-the-art fitness center

▸ Internet café with coffee bar

▸ Controlled access gates

▸ BBQ grills & picnic areas

▸ Beautifully landscaped grounds

▸ On-site clothes care center

▸ Wi-Fi access at pool and clubhouse

▸ Carports

Unit Features:

▸ White Whirlpool appliance package

▸ Wood-style flooring*

▸ 9-foot ceilings 1st floor

▸ Vaulted and 8' ceilings on 2nd floor

▸ Full-size washer/dryer connections

▸ 2” plantation blinds

▸ Two tone paint

▸ Baseboards

▸ Ceramic tile entries*

▸ Walk-in closets*

▸ Patio/solarium

*In select units


Puerta Villa at Cimarron

Community Features:

▸ Resort-style swimming pool

▸ Resident clubhouse

▸ Fitness center

▸ Adjacent walking trail

▸ Internet café with coffee bar

▸ Controlled access gates

▸ BBQ grills & picnic areas

▸ Lush, mature landscaping & courtyards

▸ Laundry facility

▸ Wi-Fi access at pool and clubhouse

▸ Detached garages

▸ Lighted carports

Unit Features:

▸ Black Whirlpool appliance package

▸ Wood-style flooring*

▸ 9-foot ceilings

▸ Full-size washer/dryer connections

▸ Patios and solariums*

▸ Dimmer switches

▸ 2” plantation blinds

▸ Garden tubs*

▸ Fiber optic wiring

▸ Framed mirrors in bath

▸ Ceiling fans with light kits

*In Select Units

Last Updated Date: 13 Jul 2021
Steven Hahn Jr.
Steven Hahn Jr.
Senior Director, Capital Markets
License details
TX-615904 OK-184952
Art Barnes
Art Barnes
Director, Capital Markets

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Last Updated Date: 13 Jul 2021

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