The Valencia

11-16-2021
12-21-2021

1020 Valencia Dr SE, Albuquerque, NM 87108

  • Scaling opportunity to acquire 58-units in the dynamic Albuquerque market
  • Premier value-add opportunity with 100% of units featuring classic interiors presents a blank canvas opportunity to upgrade units and capitalize on rental premiums
  • Opportunity to move in-place rents to current asking rents and capitalize on an additional $146/unit on average
  • Improving operations via streamlining expenses: replacing breaker panels will property reduce insurance costs by $13,000 annually
  • Spacious layouts averaging ±752 sf allowing the opportunity to install washers and dryers in unit and increase rents an additional $50/unit/month
  • The property boasts a wide array of community amenities including private patios, community wi-fi, covered parking, and gated access
  • Located in the South San Pedro neighborhood, The Valencia Copper Ridge is within five miles of over 167,000 jobs with an average household income of over $75,000

Property Description

The Valencia is a 58-unit, garden-style community with substantial value-add upside, strategically located in Southeast Heighs submarket in Albuquerque. Albuquerque continues to experience unprecedented job growth, fueling robust demand for multifamily housing in the market. The asset is poised for significant revenue growth via organic market rent increases; current in-place rents are ±$150 below the submarket on average. Investors have the tremendous opportunity to increase revenue and value implementing a strategic interior upgrade program. Additionally, investors can capitalize on other opportunities such as installing washers and dryers in unit.

Key Property Information

Listing Status
Available
Listing Type
Highest & best offer
Multifamily type
Garden Style
No. of Units
58
Year Built
1963
Building Size
43,620 Sq ft
No. of Stories
2
Opportunity Zone
Off
Price per unit
$ 0
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35.06253, -106.580696

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