• Year Built: 1902
517-521 Silver Ave Sw is amulti-family property for lease in Albuquerque, NM.
With a Walk score of 98, a Transit Score 57, and a Bike Score 92, this is one of the most millennial friendly apartment locations in Albuquerque. Located near 100+ restaurants, 200+ retail businesses one half block from Rapid Ride stop, five blocks from the Rail Runner and within a mile of two grocery stores (one is under construction and opens Q1-2016).
This 100+ year old apartment contains one large 3 bedroom home, 2 small one bedroom one bath units, and 4 studios that share a kitchen and bathroom. The interior oozes history with hardwood floors, exposed brick walls, built-ins, and a claw-foot tub.
Copy of MAI Appraisal for $650,000 is available to qualified investors who execute confidentiality agreement at www.nmapartment.com/silver .
The site is 10,454 square feet of gravel parking that contains 16 paid parking spots that are rented to local businesses and rentals.
Possible Development Opportunity
Adjacent property 210-230 6th SW is also available for sale – 8 units for $550,000 – ideal redevelopment opportunity as two properties together provide a quarter block or downtown land. Located in the Downtown 2025 Plan, which has a fast track approval process, no density limitations, 40 story height limitation and no parking requirement. Both properties have stable income and would provide a developer with a steady income stream until they were ready to redevelop the block into a higher and better use.