Nwc Sara & Meadowlark Lane is amulti-family property for lease in Rio Rancho, NM.
Priced just reduced by $300K, which is well below appraisal for this Class A multi-family apartment site, which is unparalleled given its strategic location, unique property design, lack of available & well positioned product, high barriers of entry in the immediate area and overall property features and amenity package. With the continuing strong market conditions (ie 94.4% market occupancy as of September 2015) and the rapid lease-up of two recently built products in the general area, this development is poised to be a hugely successful and lucrative investment opportunity. We have completed an extensive property design with preliminary drawings, elevations, cross and unit sections that has been informally reviewed by some planning officials and was well received. In addition, we have obtained prelim unit pricing for the project and have have gathered extensive input/data gathered from numerous sources including residential management companies, apartment brokers as well as tracking current developments. In summary, a strong development team has been set up with a seasoned architect, engineers, construction management firm, residential management company and a seasoned real estate attorney to make this a successful development.
We are seeking an investor or developer who is willing to acquire the entitled multi-family land with design plans for $1 MM.
This site and its strong potential as a Class A, high density, multi-family development, presents a unique opportunity for an investor and/or developer, alike.