640 Broadmoor Blvd, Rio Rancho, NM 87124

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Todd C.

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Building Details:

• Year Built: 2016

640 Broadmoor Blvd is amulti-family property for lease in Rio Rancho, NM.

New construction starts Summer 2016 on this high end fourplex located between Rio Ranchos elementary, middle and high schools. This fourplex includes an owners unit (1,374 sf) with attached garage, studio (480sf), one bedroom one bath (709 sf), and two bedroom two bath (878 sf).

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The City of Rio Rancho has a multifamily housing shortage as it is in need of an additional 5,742 apartment units. Couple that with forecasted population growth of 141.8% between now and 2035 and the need for additional housing units is even more severe.
Investors in the Broadmoor luxury apartments will be able to capitalize on this growth.
* 2020 population is forecast to be 93,318 which equates to an additional 579 units of demand.

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