Albuquerque Multifamily for Sale - University
Introducing Hermosa Commons at 200 Hermosa Dr. NE, Albuquerque, NM 87108 - a prime turnkey investment in the heart of Nob Hill. This mixed-use property features 22 units (20 studios, 2 one-bedrooms, and commercial spaces) across 11,369 sq. ft. Studios at 330 sq. ft. offer ideal, efficient spaces for renters, all just minutes from the Nob Hill Business Center and the University of New Mexico (UNM).
Hermosa Commons has undergone extensive improvements. Seventeen units have been turned over, attracting new tenants with fresh paint and updated flooring. A new high-efficiency heating boiler, installed in 2020.
Located steps from the Albuquerque Rapid Transit (ART) station, Hermosa Commons provides unmatched accessibility to citywide transit and amenities. Nob Hill has seen substantial growth with new apartments and retailers, strengthening this high-demand rental market.
The property is owner-managed remotely, with maintenance and video security systems in place for efficient oversight. Albuquerque’s economic resilience, bolstered by major employers like UNM, Netflix, Sandia National Labs, and Intel, ensures a stable tenant base.
As you may know, Albuquerque is in a housing crisis, and thanks to all the new job growth the demand for apartments has skyrocketed. Hermosa is a mixed-use property boasting a total of 22 units (20 studios, 2 - 1 bedrooms, and commercial units, with a gross building area of 11,369 sq. ft. Most studio units are 330 sq. ft. with the same floor plans. The property is turn-key with a strong history of occupancy and is located in a high-demand rental market. Currently, owner-managed fully remotely with maintenance and video security system.
Property Overview:
- Total Number of Units: 23
- 22 Units - Apartments
- 20 - Studio Apartments (Avg. 330/SF)
- 2 - 1 Bedroom Bungalows (Avg. 850/SF)
- 1 Commercial Shop Unit (1875/SF)
- Building Sq Ft: 11,369 | Lot Sq Ft: 20,037.6
- 3 Multiple Lots - Lots 1, 23 & 24, College View Addition
- 100% Unit Occupancy
- Non-Owner Occupied, Live-in resident manager / maintenance technician
Located in Historic Nob Hill and Walking Distance to UNM:
- Albuquerque’s first Shopping Center, the Nob Hill Business Center.
- Bars, restaurants, theatres, museums, academic institutions, and local retail.
- UNM which features over 30,000 students
- Major infrastructure improvements have been made in the area and the property is a stones through away from a major ART “Albuquerque Rapid Transit” station which services all of historic Route 66.
- Major investments continue to come to this area with the addition of over 300 apartment units in just the last 18 months along with new retailers and restaurants.
Onsite Management + Innovative Technology Enabled Property
With live-in resident manager / maintenance technician. We are committed to ensuring an enjoyable experience for our tenants. The live-in-manager oversees a range of duties such as upkeep, work orders, tenant touring, and unit turnover with real-time messaging and daily communication to property manager.
Online Marketing + Digital Leasing Leading in Fast Turnovers - 3 Days Turnover Time
Utilizing Online Leasing Marketing, 3D Video Tours, Video Tours, and seamless tour scheduling supported by on-site management, our process facilitates a rapid lead-to-lease cycle. We offer convenient online rental applications and conduct thorough tenant screenings to ensure comprehensive assessments.
