100-Unit Apartment
For Sale
Contact for pricing
Pending
401 Nelson Ave, Farmington, NM 87401
Stabilized multifamily property with furnished and unfurnished units, on-site office and storage improvements, and resident laundry equipment.
Property SizeContact for details
Days on Market142
Property Features for 401 Nelson Ave
General Information
Standard status
Pending
Property subtype
Multifamily
Occupancy
100%
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Additional Details
Multifamily Units
100
Amenities
washer/dryer in units
walk-in closets
fire alarm system
water usage monitoring station
storage area
Building Details
Tenancy
Multi
Listing Agency:
Waller Group Homes
(214) 818-4109
Listed By:
Logan Waller · License #TX 0479147
Source:
Crexi
Added: Apr 11
Changed: Aug 30
Last Checked: Aug 30 at 3:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Waller Group Homes
Investment Insights
Based on property information with market context.
Cannery Apartments is a 100-unit multifamily property arranged across five buildings, with 20 units in each building. An office building and separate storage area with a large garage door opening support on-site operations. The first development phase delivered 60 units in 2012, followed by a 40-unit phase in 2014. One-bedroom apartments have stackable washer/dryer units, while two-bedroom units include full-size washer/dryer equipment and storage space. Walk-in closets are provided throughout. Thirteen units are furnished and offered on three- or six-month leases; the remaining units are leased on one-year terms. Fire alarm systems were upgraded, and the water usage monitoring station was updated for conservation billing.
The property is located in Farmington, New Mexico, near US Highway 64, New Mexico Highway 170, NM Highway 371, and NM Highway 516. Units are individually metered for water, gas, and electric, with third-party water meters in place and owner reimbursement for water usage. Reported occupancy is 100.0%.
The property is located in Farmington, New Mexico, near US Highway 64, New Mexico Highway 170, NM Highway 371, and NM Highway 516. Units are individually metered for water, gas, and electric, with third-party water meters in place and owner reimbursement for water usage. Reported occupancy is 100.0%.
Key Highlights
- 100‑unit multifamily property comprising 5 buildings with 20 units each
- Development completed in two phases: 60 units in 2012 and 40 units in 2014
- 13 of 100 units are furnished and offered on 3- or 6‑month leases
Property Analytics
Property Profile
Current Use
Lease Details
100
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
1,005
Businesses Nearby
Explore this area
Business Placement
Demographics for 87401, NM
44,724
Population
17,611
Households
2.5
Avg Household Size
34
Median Age
19%
College-Educated
88%
High-School Grad
132.8 sq mi
ZIP Area
337
Density / Sq Mi
$56,358
Median Household Income
$31,362
Median Earnings
$983
Median Rent
$202,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Stabilized multifamily property with furnished and unfurnished units, on-site office and storage improvements, and resident laundry equipment.
Where is this apartment building located?
The property is located at 401 Nelson Ave Farmington, NM.
What are key features of this property?
This property features: 100‑unit multifamily property comprising 5 buildings with 20 units each; Development completed in two phases: 60 units in 2012 and 40 units in 2014; 13 of 100 units are furnished and offered on 3- or 6‑month leases
