Residential Land for Sale in Albuquerque, New Mexico
517 1st St SW, Albuquerque, NM 87102
The current owner has plans for 100 Multi-family units on the site, with first floor parking, including a roof top deck amenity. The property is conveniently located directly west of the planned $70M Rail Trail, south of the Alvarado Transportation Hub, just southwest of the ABQ Innovation district, and north west of the under development NM Media Academy, and on the east side of the Central Business District.The asking price is $1,750,000, with a price per unit of $17,500, and a price per square foot of $82.33. Using price pre unit and recent comparable sales supports a value closer to $2,150,983.Subject property might qualify for the first round of $30,000,000 of financing from the NMFA Opportunity Enterprise Housing Development Fund - applications are open from 9/4 to 10/16
Location
- Street address
- 517 1st St SW
- County
- Bernalillo County
- Community
- Atlantic & Pacific
- Elevation
- 4,951 feet
Directions
From Central and 2nd south to Iron, east to the property.
Property details
- Lot size
- 0.49 acres21,344 sq ft
- MLS #
- SWMLS 1072123
- Posted
Property taxes
- Recent
- $940 - Lot C, Block A, Atlantic and Pacific Addition
Parcels
- 101405723424533705
Legal description
Lot C, Block A, Atlantic and Pacific Addition
Details and features
Listing
- Type
- Land
Structure
- Sewer
- Public Sewer
Nearby schools
| Name | Level | District | Description |
|---|---|---|---|
| Dolores Gonzales | Elementary | — | — |
| Washington | Middle | — | — |
| Albuquerque | High | — | — |
Listing history
| Date | Event | Price | Change | Source |
|---|---|---|---|---|
| Mar 12, 2025 | Price drop | $1,390,000 | $360,000 -20.6% | SWMLS |
| Oct 9, 2024 | New listing | $1,750,000 | — | SWMLS |