517 1st Street SW

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