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Casa Placida & Crystal Garden Apartments
7100 Constition NE, Albuquerque, NM 87110
101 Units | Multifamily
Multifamily Property - Off Market
- No. Units:
- Building Size:
- 116,260 SF
- Property Type:
- Property Sub-type:
- Property Use Type:
- Commission Split:
- Gross Rent Multiplier:
- Year Built:
- Lot Size:
- 6.90 AC
- Listing ID
- Last Updated
- over 1 year ago
- Priced Below Replacement Cost
- Uptown's Largest Floorplans
- Great Location and Neighborhood
- 07 Revenue significantly up due to rent increase in Jan. Another rent increase of $30 per unit scheduled for September 1st.
- Pride of Ownership Quality, Beautiful Landscaping
- Consistantly runs at 100% Occupancy!
These properties can now be purchased separately, or together. Price for Casa Placida alone is $7,326,733. Price for Crystal Gardens alone is $2,673,267. Potential condo conversion with these large 2 and 3 bedroom units. First time on the market! This opportunity includes two properties: Casa Placida Apartments (74 units) at 7100 Constitution NE and Crystal Garden Apartments (27 units) at 1300 NE in Albuquerque, New Mexico. These properties were built in 1966 and 1968. All units are spacious two and three bedroom units. There are carports and storage areas for each unit.
Since January 2007 there has been a $55 rent increase on all units.
The Cystal Garden property would be ideal to convert to condominiums. They are all one-story two and three bedroom units.
There is also upside in the rents. Both properties are well below the market in rents on a square footage basis.
These properties are ideally located in the southeast section of Albuquerque within a short distance from Sunport International Airport, University of New Mexico, parks, shopping, and restaurants. The Jerry Cline Tennis Complex is just across the street from the Casa Placida Apartments.
Map of 7100 Constition NE, Albuquerque, NM 87110 (Bernalillo County)
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-BSO