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Paseo Del Norte Blvd - Shovel Ready Multifamily Site

13.72 Acres of Residential Land Offered at $5,946,550 in Albuquerque, NM 87114

Residential Land & Home Lots New Mexico Albuquerque Paseo Del Norte Blvd, Albuquerque, NM 87114

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

Attachments

The Trails_Land_Brochure_V3

Property Facts

Price $5,946,550 Property Subtype Residential
Sale Type Investment or Owner User Total Lot Size 13.72 AC
No. Lots 1 Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Type Land
Price $5,946,550
Sale Type Investment or Owner User
No. Lots 1
Property Type Land
Property Subtype Residential
Total Lot Size 13.72 AC
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

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)

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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

zoning

Zoning Code R-ML (Residential)
R-ML (Residential)
(505) 837-4999

Contacts

  • Listing ID: 30876655

  • Date on Market: 2/5/2024

  • Last Updated:

  • Address: Paseo Del Norte Blvd, Albuquerque, NM 87114

More public record information on Paseo Del Norte Blvd, Albuquerque, NM 87114

The Land Property at Paseo Del Norte Blvd, Albuquerque, NM 87114 is currently available for sale. Contact CBRE for more information.

Land PROPERTIES IN NEARBY NEIGHBORHOODS

Nearby Listings

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Paseo Del Norte Blvd, Albuquerque, NM for sale Primary Photo- Image 1 of 8
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Paseo Del Norte Blvd, Albuquerque, NM for sale Building Photo- Image 4 of 8
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Paseo Del Norte Blvd - Shovel Ready Multifamily Site
(505) 837-4999 x

Paseo Del Norte Blvd - Shovel Ready Multifamily Site

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Matt Butkus

(505) 837-4999

(505) 837-4999

Trevor Hatchell

(505) 463-5263

(505) 463-5263

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