2211 Rio Grande Boulevard NW
Albuquerque, NM 87104

Description

Built in phases between 1966 to 1974, this apartment community is in DIRE need or renovation work and represents a value add opportunity or a complete scrape, take advantage of the new zoning (R-MH from R-3) and almost double the number of dwelling units on site.This property is not for a timid, inexperienced buyer, but rather an experienced, seasoned developer/operator. 2 of the 3 main apartment buildings have been vacated due to structural issues. Please review the document center with the flyer, APOD, property info (note disclosure of major structural issues) and bid process info.Embedded in the high barrier to entry submarket known as the North Valley, the property offers a rare opportunity to own an (almost) one acre site zoned for apartments. Houses in area up to $998

Details

MLS#909559
Sub-TypeResale
StatusActive
Year1974
Days On Site181

Features

SQ Feet15,196
Units26
Building(s)4

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Area Information

StateNM
CountyBernalillo
CityAlbuquerque
Zip Code87104
Area101 - Near North Valley
Listing VS Median (in 87104)
Price:
$850,000
low | high
Med:
$309,700
100% of Average
SqFt:
15,196
low | high
Med:
1,774
100% of Average
$ / SqFt:
$56
low | high
Med:
$176
100% of Average
On Site:
181
low | high
Med:
38.500000
100% of Average
Listing Updated: 07/22/2018
MLS Number: 909559
Listing Provided By:
Todd D Clarke  of  NM Apartment Advisors Inc.