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Paseo Del Norte Blvd - Shovel Ready Multifamily Site 13.72 Acres of Residential Land Offered at $8,196,308 CAD in Albuquerque, NM 87114
EXECUTIVE SUMMARY
This multifamily site is located within The Trails subdivision in northwest Albuquerque, NM. It is fully entitled and approved for development of an apartment complex to support the rapidly growing westside population. With a low 4.9% multifamily vacancy rate, the market is prime for new development. The property is surrounded by new retail amenities, highly-rated schools and public open space featuring hiking trails, nature preserve and desert vista views.
PROPERTY FEATURES:
› ±13.72 Acres
› $9.95/SF or $5,946,550
› Located in Qualified Opportunity Zone (allows for tax benefits)
› Zoned R-ML
› Rapidly growing northwest Albuquerque submarket
› Surrounded by retail amenities, highly-rated schools and public open space
› Low multifamily vacancy rate - 4.9% December 2023
PROPERTY FEATURES:
› ±13.72 Acres
› $9.95/SF or $5,946,550
› Located in Qualified Opportunity Zone (allows for tax benefits)
› Zoned R-ML
› Rapidly growing northwest Albuquerque submarket
› Surrounded by retail amenities, highly-rated schools and public open space
› Low multifamily vacancy rate - 4.9% December 2023
PROPERTY FACTS
| Price | $8,196,308 CAD | Property Subtype | Residential |
| Sale Type | Investment or Owner User | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 13.72 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | R-ML - Residential | ||
| Price | $8,196,308 CAD |
| Sale Type | Investment or Owner User |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | |
| Total Lot Size | 13.72 AC |
| Opportunity Zone |
Yes |
| Zoning | R-ML - Residential |
1 LOT AVAILABLE
Lot
| Price | $8,196,308 CAD | Lot Size | 13.72 AC |
| Price Per AC | $597,398.56 CAD |
| Price | $8,196,308 CAD |
| Price Per AC | $597,398.56 CAD |
| Lot Size | 13.72 AC |
DESCRIPTION
This property is already entitled and approved for a 333-unit apartment complex, consisting of 13 two and three-story, garden- style multifamily apartment buildings and one clubhouse building on the 13.72± Acre site. Approved construction drawings prepared by Humphreys Architecture www.humphreys.com. CONCEPTUAL SITE PLAN HIGHLIGHTS • 333 Total Units • 99 One Bedroom Units • 156 Two Bedroom Units • 78 Three Bedroom Units • 1,025 SF Average Unit Size • Resort Style Pool • Clubhouse • Dog Park • Fitness Center • 533 Parking Spaces (Carport and Private Garage Parking)
1 1
PROPERTY TAXES
| Parcel Number | 1-008-064-430468-1-02-05 | Improvements Assessment | $0 CAD |
| Land Assessment | $32,218 CAD | Total Assessment | $32,218 CAD |
PROPERTY TAXES
Parcel Number
1-008-064-430468-1-02-05
Land Assessment
$32,218 CAD
Improvements Assessment
$0 CAD
Total Assessment
$32,218 CAD
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Paseo Del Norte Blvd - Shovel Ready Multifamily Site
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