Catylist ID: #30737227
Extreme Value Add opportunity on UNM Campus
Multi-Family for Sale
|Catylist Listing ID:||30737227|
|Number of Units:||32 Units|
|Building Size (RSF):||15,139 SF|
|Gross Land Area:||0.48 Acres|
|Unit Price:||$20,250 Per Unit|
|Property Use Type:||Investment|
|Usable Size (USF):||15,139 SF|
|Sale Terms:||Cash to Seller|
Overview / Comments
On behalf of the owners, NM Apartment Advisors and Deacon Property Services are excited to bring to market this rare opportunity to redevelop this building in the heart of the UNM Campus. Located just south of Golden Pride, and a long block from the UNM Presidential house/ duck pond, and along former Greek row, 1801 Mesa Vista NE was a former Greek house dorm with 32 rooms and large public common spaces.
Whether you desire to renovate into a large house with a guest quarters, take on renting it as a residential dorm, scrape the site, or convert it to 24 high end units, the ask price of $648,000 or $42 per gross square foot is an amazing foundation for its rebirth. Could this be your Corazon You(NM), (the heart of you and UNM)?
28 page flyer at http://www.nmapartment.com/apt/NMAA-MesaVista1801NE.pdf
Based on 24 high end apartments, with an average rental price of $816, the potential renovated, leased up value is $2,297,758. The spread between that and the ask price leaves a lot of funds for renovations, financing, contingency, and profit.
Amazing financing available from the Ventana Fund (disclosure, Listing broker volunteers on the board of directors) possible 80% loan to value for the acquisition and 80% of the renovation costs at below market interest rates.
Register for the confidential documents and property tour at http://www.nmapartment.com/mesavisata
- Attend the property tour at noon on Tuesday, June 22nd, 2021 (no other showing times are available, so please do not request one outside this time frame).
- Offer deadline at Noon on Thursday, June 24th, 2021.
Do not miss out on this in a once in a generational opportunity to possess a site on the UNM Campus.
Todd Clarke CCIM CIPs
NM Apartment Advisors Inc.
Deacon Property Services, LLC
(505) 878-0100 Ext. 204
PS: Learn from industry experts why ABQ is undergoing double digit rent and value growth by reviewing the NMAA 2012 Forecast at http://www.nmapartment.com/zoomforecast2021
Attachments & Media
|Taxing Authority:||Bernalillo County|
|Zoning:||R-MH - Residential: Multi-family High Density|
|Number of Stories:||3|
|Proximity:||1 mile||3 miles||5 miles|
Todd ClarkeNM Apartment Advisors, Inc. CARNM CIE Member
Kyle DeaconDeacon Property Services CARNM CIE Member
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