Poblana Place | 2818 4th St NW
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Poblana Place 2818 4th St NW
84 Unit Apartment Building $18,200,000 ($216,667/Unit) 6.16% Cap Rate Albuquerque, NM 87107
Executive Summary
Poblana Place - 87 mixed use units for $18.20M, new construction, Proforma Cap of 7.92%, actual 5.48% cap rate
NM Apartment Advisors Inc. is excited to share with you our newest listing from the architect/development team of Scott Anderson and Dreskin Development and J&S Development.
Located in the heart of the north valley along Albuquerque's original Route 66 and at 2818 Fourth NW, Poblana Place is a brand new construction apartment community offers an amazing chance to own a brand new investment property in an underserved sub-market.
Welcome to the future – the Poblana Place apartments represent what Albuquerque's new IDO zoning allows - higher density, mixed use, covered gated parking and more.
The property offers large roof deck, four electronic vehicle charging spaces, elevator service, covered parking spaces, common trash chutes, and units with washer/dryers, granite counter tops, vinyl plank flooring, walk-in closets and upgraded unit finishes.
The property has achieved 95% occupancy, with an average rent of $1,437 per month. In the coming year, as leases renew and the construction discount burns-off, average rents will increase to $1,484. A recent market survey of competing rental properties indicates market rents are closer to $1,871 which is a 25% increase over today’s average rent.
Additional value add opportunities arise from charging for the 84 covered parking spaces as well as for the 84 units that have washer/dryers installed.
Located just north of downtown, and equidistant between Uptown and North I-25 corridor, this property is centrally located for residents who want urban living in Albuquerque's rural/agricultural corridor.
Property Flyer and summary financial info can be found at - http://www.nmapartment.com/apt/NMAA-Fourth2818NW.pdf
Qualified investor can access the confidential documents by completing the online confidentially agreement at http://www.nmapartment.com/2818
Do not wait, flagship properties in one of the top markets in the country for rent growth are very rare.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
NM Apartment Advisors Inc. is excited to share with you our newest listing from the architect/development team of Scott Anderson and Dreskin Development and J&S Development.
Located in the heart of the north valley along Albuquerque's original Route 66 and at 2818 Fourth NW, Poblana Place is a brand new construction apartment community offers an amazing chance to own a brand new investment property in an underserved sub-market.
Welcome to the future – the Poblana Place apartments represent what Albuquerque's new IDO zoning allows - higher density, mixed use, covered gated parking and more.
The property offers large roof deck, four electronic vehicle charging spaces, elevator service, covered parking spaces, common trash chutes, and units with washer/dryers, granite counter tops, vinyl plank flooring, walk-in closets and upgraded unit finishes.
The property has achieved 95% occupancy, with an average rent of $1,437 per month. In the coming year, as leases renew and the construction discount burns-off, average rents will increase to $1,484. A recent market survey of competing rental properties indicates market rents are closer to $1,871 which is a 25% increase over today’s average rent.
Additional value add opportunities arise from charging for the 84 covered parking spaces as well as for the 84 units that have washer/dryers installed.
Located just north of downtown, and equidistant between Uptown and North I-25 corridor, this property is centrally located for residents who want urban living in Albuquerque's rural/agricultural corridor.
Property Flyer and summary financial info can be found at - http://www.nmapartment.com/apt/NMAA-Fourth2818NW.pdf
Qualified investor can access the confidential documents by completing the online confidentially agreement at http://www.nmapartment.com/2818
Do not wait, flagship properties in one of the top markets in the country for rent growth are very rare.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
Property Facts
| Price | $18,200,000 | Property Subtype | Apartment |
| Price Per Unit | $216,667 | Apartment Style | Mid Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.16% | Lot Size | 1.30 AC |
| Gross Rent Multiplier | 13.24 | Building Size | 109,118 SF |
| No. Units | 84 | No. Stories | 4 |
| Property Type | Multifamily | Year Built | 2023 |
| Price | $18,200,000 |
| Price Per Unit | $216,667 |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| Gross Rent Multiplier | 13.24 |
| No. Units | 84 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 1.30 AC |
| Building Size | 109,118 SF |
| No. Stories | 4 |
| Year Built | 2023 |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Carpet
- Pantry
- Patio
Site Amenities
- 24 Hour Access
- Controlled Access
- Gated
- Roof Terrace
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | 549 - 794 |
| 1+1 | 45 | - | 605 - 896 |
| 2+2 | 33 | - | 952 - 1,036 |
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Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 1-014-059-366425-1-13-10 | Improvements Assessment | $2,300 |
| Land Assessment | $80,725 | Total Assessment | $83,025 |
PROPERTY TAXES
Parcel Number
1-014-059-366425-1-13-10
Land Assessment
$80,725
Improvements Assessment
$2,300
Total Assessment
$83,025
-
Todd Clarke -
NM Apartment Advisors Inc
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Poblana Place | 2818 4th St NW
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