4224-4246 Eubank Blvd
Albuquerque, NM 87111
Sierra Meadows Apartments · Multifamily Property For Sale · 120 Units

CBRE is pleased to provide the opportunity to acquire Sierra Meadows, a 120-unit Class B value-add multifamily property developed in 1979. The excellent location on Eubank Boulevard in Albuquerque' s preferred Northeast Heights provides a permanent locational competitive advantage with all of the city' s employment corridors, and retail and entertainment destinations within easy reach. Sierra Meadows provides investors with attractive in-place yields, consistently strong occupancy, and the opportunity to increase rents by upgrading its large units. The community can be acquired at significantly below replacement cost and is available free and clear. Sierra Meadows enjoys a highly desirable location in Albuquerque' s Far Northeast Heights near a major intersection (Eubank Blvd. and Montgomery Blvd.) that provides ready access to all of the city' s most desirable employment, retail, and entertainment destinations. The property abuts the Paradise Square shopping center which is comprised of numerous retail establishments including restaurants, bars, breweries, and shopping. The Sierra Vista Shopping Center is located directly across Eubank Blvd. and is comprised of numerous restaurants and shopping including a Hobby Lobby and Marshalls. Albertson' s Grocery is located one-mile south of the property, and the Mountain Run Shopping Center including a Smith' s Grocery is located directly north of the property. Sierra Meadows' premier location gives it a competitive advantage in generating rent and occupancy.