6720 Cochiti Road SE
Property Description
On behalf of the owners, NM Apartment Advisors and Deacon Property Services are excitedto bring to market such a high rate of return multi-family investment. Located at 6720 CochitiSE - just one block from historic Route 66 which contains the spine of Albuquerque's masstransit corridor. Although the area appears a bit rough now, the state has indicated they in-tend to redevelop the NM Fair grounds, located just north of this property with $200M of re-development that could include a stadium for NM United, as well housing retail and a com-plete mixed use community.6720 Cochiti SE offers a fantastic opportunity to capitalize on cross-community concentrationon improving the International District and the Fairgrounds neighborhoods. The compound of9 units has been totally updated and fortified by quality metal fencing and multiple secureddrive-thru & pedestrian gate entries. Inside the compound, residents enjoy meandering walk-ways to their unique casita-style 1 bedroom apartments, secured common patio space, acommon laundry room, and secured off-street parking. All apartments have been properlyupdated with quality, long-term finishes including thermal windows, luxury vinyl plank flooring,custom tile work, and contemporary fixtures.Beyond its proximity to Expo NM/State Fair grounds, Kirtland Air Force Base, Sandia NationalLaboratories, Ta-Lin International Marketplace and the 3 million square feet of retail in ABQ'sUptown Area, any savvy investor knows there are three magic numbers for Albuquerque:100, 320 and 24,343. Albuquerque has been home to the historic mother road, Route 66, for100 years of its 320-year history, and it's currently undergoing a housing shortage of 24,343units. Do not miss out! This marketplace has not offered a 8%+ cap rate multi-family investment opportunity in many decades - especially on a property that has already been so significantly updated.
Broker Details
NM Apartment Advisors Inc. 505-440-8633
MLS ID: clarkeda State License Number: 13711
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $740,831 |
| No. of Units: | 9 |
| Year Built: | 1950 |
| Lot Size: | 4,300.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $82,315 |
| Property Website | Click Here |
| Number of Bedrooms: | 3 |
| Number of Bathrooms: | 3 |
ID: 3yd-GAARNM-1106356
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