Downtown Redevelopment with in place income

Multi-Family for Sale
Catylist Listing ID: 29988700
Property Subtypes: Low-Rise/Garden
Number of Units: 15 Units
Building Size (RSF): 10,701 SF
Gross Land Area: 14,004 SF
Sale Price: $1,200,000
Unit Price: $80,000 Per Unit
Property Use Type: Investment
Building Name: Sixth & Silver Studios/Suites
Sale Terms: Other
Gross Rent Multiplier: 9.93
Last Updated: 6/25/2018

Overview / Comments

On behalf of the owners, NM Apartment Advisors Inc., is pleased to present a rare opportunity to acquire an assembled quarter block of downtown Albuquerque. This site and 15 unit community offers the trifecta in high walk score (93), bike score (77) and transit score (57), making it an ideal location for a millennial redevelopment.

Priceless zoning in the Downtown 2025 District allows heights up to 40 stories and fast track city approval.

Income producing until you are ready to replace the property.

Priced at 2015 appraisal.

Located in Downtown 2025 District, one block from historic Route 66, and embedded in Albuquerque's tallest buildings and 25,000 jobs.

Over 100 restaurants within a one mile radius, 9 new brew pubs, 8 new coffee shops, 2 grocery stores (new one opens in August), makes this an ideal location for a millennial friendly redevelopment.

Disclosure: Broker is owner in one portion of property.

Attachments & Media

Additional Details

Nearest MSA: Albuquerque
County: Bernalillo
Submarket/Township: Downtown
Zoning: SU-3 - Special Center Zone
Percent Occupied: 100%
Total Number of Buildings: 5
Number of Stories: 2
Year Built: 1901
Legal Description: Lots 21, 22, 23 & 24, Block 25, NM Town Company Original Townsite

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,487 114,084 283,977
Median Age: 36.73 34.39 34.63
Households: 7,213 46,605 114,620

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