TITLE:
Large 2 Parcel Residential Redevelopment
CONTROL:
Exclusive
VALUE:
$2,100,000
LOAN:
$850,000
EQUITY:
$1,250,000
TYPE:
Land
HAVE:
7.62 Acre Apple Orchard. Leave as it is for a farm purchase or redeveloped into 5 custom home lots with a 2.62 acre rehab home featuring a a guest house. Lots of upside and broker is willing to facilitate with boots on the ground locally.
ADDRESS:
6461 Corrales Road, Corrales, New Mexico
BENEFITS TO NEW OWNER:
Big upside for custom home lots. Low property taxes during redevelopment.
OTHER FILES:
GROSS SCHEDULED INCOME:
$0
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$0
EXPENSES:
$0
NOI:
$0
DEBT SERVICE:
$0
CASH FLOW:
$0
CAP RATE:
0.00%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$400,000
$0
0%
09/09/9999
No
LOAN 2
$450,000
$0
0%
03/31/2027
No
REMARKS:
Redeveloped 1 acre lots = $300k each. As-Is home valued at or near $850k. Possible JV or boots on the ground opportunity. Broker lives minutes away and is very familiar with the area.
COUNSELOR:
Michael Schlichte
Absolute Real Estate
1100 Alameda Blvd. NW Ste.4
Albuquerque, New Mexico, 87114
