6720 Cochiti Road SE

Start price is 10.41% cap rate at 6720 Cochiti SE presents a rare opportunity to acquire a nine-unit multifamily property in immediate proximity to Albuquerque's historic State Fair / EXPO NM. The State of NM, has approved an initial $114M in funding for what could become a ''billion dollars'' per Governor Lujan Grisham. Although the area appears a bit rough now, the state has indicated they intend to redevelop the NM Fair grounds, located just north of this property with $200M of redevelopment that could include a stadium for NM United, as well housing retail and a complete mixed-use community. The subject property is located about 400 feet due south of the center of the current State Fair grounds. One date for tours (noon 7/21) and one date for offers 7/22.