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

Posted on Oct 19 2015 - 9:37pm by Brandon De Hoyos

(ALBUQURQUE, NM)— A prominent downtown corner in New Mexico is up for grabs and ripe for multifamily development.

Todd Clarke of NM Apartment Advisors has listed two adjoining properties on Silver Avenue and 6th Street for $1.2 million, Albuquerque Business First reports.

The nearly one-third of an acre site includes apartments, small business storefronts, a 1920s-era home, a 16-space parking lot and Cecilia’s Cafe, a popular joint in Albuquerque. The owners of a Downtown corner on Silver Avenue and 6th Street are marketing their properties for redevelopment.

Both properties were previously on the market separately, only to emerge with questions about the adjacent properties.

The listing comes as greater scrutiny is placed in the area for multifamily and mixed-use properties.