Catylist ID: #30750488
Multi-Family for Sale
|Catylist Listing ID:||30750488|
|Number of Units:||36 Units|
|Building Size (RSF):||23,700 SF|
|Gross Building Area:||See Agent|
|Unit Price:||$47,222.22 Per Unit|
|Property Use Type:||Investment|
|Building Name:||8010 Zuni Rd SE - Coronado Apartments|
Overview / Comments
The apartment consists of 33 one bed, one bath units and 3 two bed, one bath units for a total of 36 units.
The 36-unit property benefits from several key factors including large unit sizes, on-site laundry, perimeter security gate, storage closets and shared yard space. Additional revenue can be created by renting storage units which are currently not being used, charging pro-rata share of utilities and increased rent through renovation of units.
The property is located near several cultural performing arts centers and major entertainment hubs. Expo New Mexico, a venue for markets, rodeos, festivals, and the state fair. The Downs Racetrack and Casino is also near the neighborhood. Travel a mile southeast of the neighborhood for easy access to
Albuquerque International Sunport Airport.
Albuquerque remains a smooth and steady apartment market thanks to a strong rebound from the pandemic-induced downturn. Consistent apartment demand has mitigated minimal supply-driven pressure on fundamentals, pressing down the vacancy rate to a ten-year low. Recent expansions by Netflix, NBCUniversal, TaskUs and Intel are expected to provide an additional boost to apartment demand, as these companies expect to hire thousands of workers over the next several years.
The properties core attributes including large unit size, ample parking, perimeter fencing coupled with local rehab initiatives and favorable market fundamentals make this an excellent value-add opportunity.
Attachments & Media
|Number of Stories:||2|
|Heat Type:||Natural Gas|
|Heat Source:||Heat Pump|
|Air Conditioning:||Evaporative Cooler|
|Land Ownership:||Fee Simple|
|Proximity:||1 mile||3 miles||5 miles|
Jacob RockerMarcus & Millichap CARNM CIE Member
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