Originally built by GJ Reeves in 1979, this 32 unit gated community has been completely renovated in 2014, with the millennial generation in mind offering hip, cool and colorful interiors, large balcony areas, a bike repair shack, community garden area, and so much more. The renovations are of a caliber to support a future condo-conversion. The community's location is in an irreplaceable NE heights neighborhood, just north of Netherwood Park, surrounded by $250,000-$350,000 residences, adjacent to the main bike path (along the AMFCA channel), and within biking distance of UNMs legal and medical campuses, Whole Foods, the Tennis Club of Albuquerque and the North Campus/Girard mixed use corridor.
NM Apartment Advisors Inc. is proud to bring to market the Zia East apartments. Located just north and east of Albuquerque's retail, restaurant mecca, Nob Hill, the Zia East apartments are adjacent to Zia park and Zia Elementary school. Originally built in 1960, many of the one bedroom one bathroom units have the original 60's decor and offer an abundance of storage and natural lighting. Possible interior upgrades include adding dishwashers, garbage disposals and updating surfaces. Possible exterior upgrades include moving to refrigerated package hvac units, solar carports, community gardens, and bike facilities.Based on the ask price of $3,110,000 and an average rent of $605 ($0.93/sf), the property offers a 6.74% Cap rate, 17.9% before tax IRR, and a 14.1% after tax IRR on actual
Rare opportunity to own perfect millennial housing in north campus location.Located within walking distance to the UNM Legal and Medical campus as well as a Whole Foods.48 fully furnished studio apartments + 2/1 unit were recently renovated and shows well.$2,887,604, $58,931 per unit, $155/sf, 7.5% CAP rate, 10.2% cash on cash. Before tax IRR of 22.6%, after tax of 17.3%.
Age: 41-50 Years Old
Amenities: Barbecue Area, Basement
Appliances: Barbeque or Grill, Microwave, Refrigerator
Architecture Style: Other
Cooling System: Evaporative
Exterior Type: Stucco
Floor Covering: Carpet, Tile, Vinyl
Heating System: Wall Unit
Lot Size: 0.93 Acres
Parking Type: Guest, Parking Lot, Paved or Surfaced
Take advantage of Albuquerque s booming millennial housing market by purchasing this 20 unit apartment known as Girard Commons north and located at 1520 Girard NE. This community includes interior bike storage, an intercom system, , high speed wi-fi, all utilities are paid (by landlord) and are fully furnished (including murphy beds in most units). Priced at $1,107,628 a 7.4% actual CAP rate and a 10.0% cash on cash at an average rent of $563 per unit. Reposition this property as corporate suites (area average rents $1,000, market average $2,327), or continue to operate the property with the existing residents who enjoy the mixed use neighborhood and the easy access to the UNM law campus, UNM medical campus, Whole Foods Grocery store, and an abundance of area restaurants.
Fabulous North Valley Location. Property currently has a small house and duplex on over 2.6 acres. Great potential for residential development. Property to the east (approimately 1.3 acres) was subdivided into 4 custom home sites.
With a Walk score of 98, a Transit Score 57, and a Bike Score 92, this is one of the most millennial friendly apartment locations in Albuquerque. Located near 100+ restaurants, 200+ retail businesses one half block from Rapid Ride stop, five blocks from the Rail Runner and within a mile of two grocery stores (one opens Q1-2016).This 100+ year old apartment contains one large 3 bedroom home, 2 small one bedroom one bath units, and 4 studios that share a kitchen and bathroom. The interior oozes history with hardwood floors, exposed brick walls, built-ins, and a claw-foot tub.2015 MAI Appraisal at $650,000.Adjacent property 210-230 6th SW is also available for sale - 8 units for $550,000 - both can be developed in Downtown 2025 plan up to 40 stories.