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Paseo Del Norte Blvd
Albuquerque, NM 87114
Shovel Ready Multifamily Site · Land For Sale
·
13.72 AC
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
| Sale Type | Investment or Owner User | Proposed Use | |
| No. Lots | 1 | Total Lot Size | 13.72 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Property Subtype | Residential | ||
| Zoning | R-ML - Residential | ||
| 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 | $5,946,550 | Lot Size | 13.72 AC |
| Price Per AC | $433,422.01 |
| Price | $5,946,550 |
| Price Per AC | $433,422.01 |
| 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)
PROPERTY TAXES
| Parcel Number | 1-008-064-430468-1-02-05 | Improvements Assessment | $0 |
| Land Assessment | $22,864 | Total Assessment | $22,864 |
PROPERTY TAXES
Parcel Number
1-008-064-430468-1-02-05
Land Assessment
$22,864
Improvements Assessment
$0
Total Assessment
$22,864
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