Premier ABQ Area apartment site

Subject: The premier multifamily site in Greater Albuquerque Area – 24 acres supports 400 units priced at $6,000,000, valued over $7,800,000

On behalf of the owners, NM Apartment Advisors and Maestas Real Estate Services are pleased to present one of the largest multifamily zoned sites in the Greater Albuquerque Metro Area.

This 24.59 acre site is part of the Sierra Vista Area plan which covers a larger 272.3 acre master plan which is located just north of Cerro de Los Lunas Preserve in Los Lunas, NM.  The site is adjacent one of the highest concentration of employment growth in the area with a new Amazon distribution facility, Meta/Facebook data centers, Wal-mart distribution center and a planned rail park.

Built in consumers of housing in the area…

Located across the main highway from the Meta/Facebook Data Centers, Wal-Mart distribution center and Amazon distribution center, this site has a captive audience of potential renters, most of whom head north to Albuquerque in the daily commute to find housing.

Fully entitled and includes water rights

“The site is fully entitled and build ready. Mass grading is done, and all utilities are available at the street or stubbed into the site. All that is needed is a building permit. The Area Plan establishes the zoning criteria. It limits the height to 2 stories and the density to 400 units.”

-Owner, Sierra Vista—Los Lunas LLC

This offering is available at $6,000,000, $15,000 per unit or $5.61/sft.  10 page flyer is available for review at http://www.nmapartment.com/apt/NMAA-LosLunas-SierraVista.pdf

Unlock $1,817,871 in value by subdividing the property

Dekker / Perich/ Sabitini has a schematic for a subdivision into 4 parcels:
 A. a site to support 16 x fourplex lots valued at $1,152,000 
 B. a site to support a 80 units for an assisted living site
 C. a 120 unit affordable site

 D. a 120 unit market site

Combined value is $7,817,871 for the creation of paper plat.

Qualified developers can register for additional information from the confidential document center by completing the online confidentially agreement at http://www.nmapartment.com/sierravista

Subject property might qualify for the first round of $30,000,000 of financing from the NMFA Opportunity Enterprise Housing Development Fund – applications are open from 9/4 to 10/16 – more info at https://www.nmfinance.com/opportunity-enterprise-housing-development-revolving-fund/

You can help address the current housing shortage - our market needs over 19,000 new rental units and until we build them, we will continue to be the #1 market in the country for rent growth. 

View all of the multifamily land listing and research on the market at http://www.nmapartmentland.com

Thanks,
Todd Clarke CCIM CIPS
CEO
NM Apartment Advisors Inc.
(505) 440-TODD

tclarke@nmapartment.com 

 

And

Anita Maestas

Qualifying Broker & Owner

Maestas Real Estate Services, Inc.

505-463-3565

anita@maestasrealty.com