The Villas at La Privada is a two- and three-story apartment community built in 1985, comprising 504 rental units. The unit mix is approximately 44 percent one-bedroom and 56 percent two-bedroom units. The Villas at La Privada is located at 4325 San Mateo Blvd NE, in Albuquerque. The property is situated south of Osuna Road on San Mateo Boulevard, a major north-south thoroughfare lined with several retail centers and restaurants connecting directly to Interstate 25.
Visit our property website to view the offering memorandum.
Construction is of wood frame, with built-up roofs. Heating and cooling is provided by individual roof-mounted HVAC units. The utility costs associated with heating and cooling are the responsibility of the tenant. The property is individually-metered for electricity, and the costs associated with usage inside the dwelling units are the responsibility of the tenant. Hot water is provided by individual hot water heaters. The cost of water, sewer charges, and trash collection is partially reimbursed by the tenants via a RUBs fee of $25 to $40.
Residents of The Villas at La Privada are close-by to major employers and points of interest, including shopping, dining, recreational facilities and transportation networks. The immediate neighborhood surrounding The Villas at La Privada comprises a mixture of single-family homes, multifamily projects, and commercial/industrial developments.
The pedestrian-friendly Uptown Shopping Center, located three miles south of The Villas at La Privada, features high-end retail such as Pottery Barn, Apple, Michael Kors, JCrew, and upscale restaurants. The Macy’s-anchored Coronado Center is located three miles south of the property. Additional nearby shopping options include the Far North Shopping Center, Fiesta Square Shopping Center, and Montgomery Plaza.
Property is well maintained and boasts significant value-add opportunities
Stable operating history allows for attractive acquisition financing and predictable cash flows
Resort-inspired amenities include two sparkling pools (one is year-round), spa/hot tub, dry sauna, spacious fitness center, business center with Wi-Fi, and a dog park
Conveniently located with access from both McLeod Road and San Mateo Boulevard in the prestigious Far Northeast Heights submarket
In proximity to Interstate 25
Strong submarket fundamentals; average rents increased over 9 percent since 2014
In proximity to major employment centers including the Journal Center, Intel, Lovelace Health System, University of New Mexico, Kirtland AFB, and downtown Albuquerque
Nearby schools include the Del Norte High School, Arroyo Del Oso Elementary School, Governor Bent Elementary School, and Cleveland Middle School
Whole Foods Market is two miles east of the property on the northwest corner of Academy Road and Wyoming Boulevard
Less less than a mile west of Arroyo Del Oso Park and Golf Course, and within walking distance of new restaurants and shopping development projects recently opened in the spring of 2017
