520 Sandia View Rd Nw Unit N/A, Los Ranchos, NM 87107

Property Description

RARE 2.75-ACRE LOS RANCHOS DEVELOPMENT OPPORTUNITY | CONCEPTUAL 35-TOWNHOME PLAN | $1,500,000 Exceptional opportunity to acquire approximately 2.75 acres near the heart of the Village of Los Ranchos de Albuquerque, one of the Albuquerque area's most desirable and supply-constrained communities. Offered at $1,500,000, the property presents a compelling opportunity for a homebuilder, build-to-rent developer, multifamily investor, or development group seeking a well-located residential project in the North Valley. The property currently consists of approximately 2.0 acres of commercially zoned land and 0.75 acres of R-2 residential land. A conceptual development plan has been prepared illustrating the potential for a 35-unit, two-story townhome community, subject to all required zoning, entitlement and governmental approvals. The concept contemplates pursuing appropriate zoning for the smaller R-2 portion to create a cohesive development consistent with the larger parcel and surrounding Village character. CONCEPTUAL DEVELOPMENT PROGRAM The preliminary concept includes: 35 total townhomes 25 two-bedroom residences 10 three-bedroom residences Two-story construction Private garages Private backyards Outdoor patios Attractive contemporary Southwestern/Village-inspired architecture Landscaped common areas and residential streetscape The design provides flexibility for either a build-to-sell or build-to-rent strategy, allowing a developer to pursue the exit that best fits its investment objectives and market conditions. COMPELLING DEVELOPMENT ECONOMICS At the $1,500,000 offering price, the land basis equates to approximately: $42,857 per conceptual townhome Based on preliminary ownership assumptions, completed townhomes could potentially support values of approximately $400,000 per residence, representing approximately $14,000,000 in potential gross residential sellout across 35 units. Alternatively, at an illustrative average rent of approximately $2,800 per month, the completed community could generate approximately $98,000 in monthly gross residential rent, or $1,176,000 annually, before vacancy, concessions, operating expenses and other costs. These figures are preliminary estimates only and are provided to illustrate potential development strategies. Buyers should independently verify achievable density, zoning, construction costs, rents, sales values and project economics. LOS RANCHOS LOCATION The property benefits from a location near the Los Ranchos Village Center, offering the character and desirability of the North Valley while maintaining convenient access to the greater Albuquerque metropolitan area. Los Ranchos continues to attract investment centered around thoughtful, Village-style development and offers a distinctive environment characterized by established neighborhoods, mature landscaping, local businesses and a highly desirable residential setting. The location provides convenient access to both the east and west sides of Albuquerque, making it well positioned for residents seeking a quieter residential environment without sacrificing connectivity to employment, shopping, dining and other major destinations. DEVELOPMENT INFRASTRUCTURE An important advantage for prospective developers is the availability of major utilities at the property, including: Water Sewer Natural gas Electric Conceptual planning and development materials are available to qualified prospective purchasers, including applicable site-planning, architectural and supporting due-diligence materials currently available to ownership. MULTIPLE POTENTIAL EXIT STRATEGIES Build-to-Sell: Develop the community as individually marketed townhomes targeting buyers seeking newer construction within the highly desirable Los Ranchos/North Valley market. Build-to-Rent: Retain the 35 residences as a professionally managed rental community, combining the privacy, garage parking and outdoor space of a single-family residence with the operating efficiencies of a concentrated rental development. Phased or Hybrid Strategy: Subject to final subdivision, condominium structure and approvals, a developer may also evaluate retaining a portion of the community while selling individual residences or phases. A RARE NORTH VALLEY DEVELOPMENT OPPORTUNITY Large development parcels in desirable, established areas are increasingly difficult to assemble. This offering provides an investor or developer the opportunity to acquire 2.75 contiguous acres, major utilities available at the property, and an existing conceptual vision for a 35-residence community near the center of Los Ranchos. Offering Price: $1,500,000 Approximate Site Area: 2.75 Acres Conceptual Residential Yield: 35 Townhomes Approximate Land Basis: $42,857 per Conceptual Unit Conceptual For-Sale Gross Sellout at $400,000/Unit: $14,000,000 Illustrative Gross Rental Revenue at $2,800/Unit: $98,000/Month | $1,176,000/Year All development concepts, unit counts, zoning changes, rents, sales prices and financial projections are conceptual and subject to buyer verification and applicable governmental approvals.