517 1st Street SW, Albuquerque, NM 87102
- $1,390,000
- List Price
- $1,390,000
- Status
- ACTIVE
- Days on Market
- 659
- Price Change
- ▼ $360,000 1741785134
- MLS#
- 1072123
- Subtype
- Land
- Lot Size
- 21,257
- Acres
- 0.49
- Subdivision
- Atlantic & Pacific
- Neighborhood
- Atlantic & Pacific
- MLS Area Major
- Downtown Area
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
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Additional Information
- Taxes
- $940
- Zoning
- MX-H*
- Elementary School
- Dolores Gonzales
- Middle School
- Washington
- High School
- Albuquerque
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Listing courtesy of Todd D Clarke from NM Apartment Advisors, Inc.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.