Great investment opportunity just a block from the Rail Yards! ZONING and LOCATION-on the corner of 3rd and Atlantic, This property is zoned R-ML, which allows townhouses and low- density multi-family buildings. Buy and hold or build your dream project. So many opportunities!
OWNER FINANCING AVAILABLE. This lot is full of potential! This lot is located near two parks, the zoo, and right next door to a community garden! Undeveloped lots in the downtown area don't come on the market very often. Don't miss out!
The current owner has plans for 100 Multi-family units on the site, with first floor parking, including a roof top deck amenity. The property is conveniently located directly west of the planned $70M Rail Trail, south of the Alvarado Transportation Hub, just southwest of the ABQ Innovation district, and north west of the under development NM Media Academy, and on the east side of the Central Business District.The asking price is $1,750,000, with a price per unit of $17,500, and a price per square foot of $82.33. Using price pre unit and recent comparable sales supports a value closer to $2,150,983.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
Daria Derebera
Real Estate Broker in Albuquerque, NM
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