In Albuquerque, Small Apartments are Red Hot

Posted on May 2 2016 - 1:47pm by Brandon De Hoyos
Del Arte Lofts - Aurora, Colorado

Credit: Business Wire)

If you own a duplex. triplex or fourplex in Albuquerque, you’re in the money.

The Albuquerque Journal reports small apartments are an excellent way for the first-time real estate investor or homebuyer to get in the game.

It’s the same advice real estate investor Lance Edwards has been giving students for years.

“The ability to create passive income comes in many forms and the principle of leverage and velocity can help move it right along,” Edwards say.

“Small apartments are where leverage really comes into play. You can make significantly more in the same time it takes to close a single small apartment deal than closing a single-family home deal.”

Multifamily Mecca: Albuquerque Street Corner to Be Sold for $1.2M

Real estate journalist Steve Sinovic says fourplexes, especially, are hot in this New Mexico city.

“The humble fourplex, the warhorse of the apartment world, is seeing an uptick in investor interest,” Sinovic writes, “especially from out-of-state residents priced out of markets in California, Texas and Arizona, and drawn to Albuquerque’s relative affordability.”

Todd Clarke of NM Apartment Advisors told Sinovic he sees the beginnings of a five-year positive trend for small apartments in Albuquerque.

You can read more of Sinovic’s interview in The Albuquerque Journal.