14
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Listed by NM Apartment Advisors, Inc.
$1,390,000
Est. payment /mo
0.49 Acres Lot
Price Dropped by $360K
517 1st ST SW Albuquerque, NM 87102
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Key Details
Property Type Vacant Land
Listing Status Active
Purchase Type For Sale
Subdivision Atlantic & Pacific
MLS Listing ID 1072123
HOA Y/N No
Annual Tax Amount $940
Lot Size 0.490 Acres
Acres 0.49
Lot Dimensions Survey
Property Description
The current owner has plans for 100 Multi-family units on the site, with first floor parking, including a roof top deck amenity. The property is conveniently located directly west of the planned $70M Rail Trail, south of the Alvarado Transportation Hub, just southwest of the ABQ Innovation district, and north west of the under development NM Media Academy, and on the east side of the Central Business District.The asking price is $1,750,000, with a price per unit of $17,500, and a price per square foot of $82.33. Using price pre unit and recent comparable sales supports a value closer to $2,150,983.Subject property might qualify for the first round of $30,000,000 of financing from the NMFA Opportunity Enterprise Housing Development Fund - applications are open from 9/4 to 10/16
Location
State NM
County Bernalillo
Area 80 - Downtown Area
Interior
Fireplace No
Exterior
Community Features Curbs, Gutter(s)
Utilities Available Electricity Available, Natural Gas Available, Sewer Available, Water Available
Water Access Desc Community/Coop
Present Use Unimproved
Building
Sewer Public Sewer
Water Community/ Coop
Schools
Elementary Schools Dolores Gonzales
Middle Schools Washington
High Schools Albuquerque
Others
Tax ID 101405723424533705
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional