Villa View 22-Unit Apartment
905 Walnut Dr, Farmington, NM 87401
For Sale
$1,050,000
Two-story apartment community near Four Corners Regional Airport, downtown Farmington, and the local hospital.
Property Size10,300 SF
Price / SF$101.94
Days on Market93
Property Features for 905 Walnut Dr
General Information
Standard status
Size
Property subtype
Occupancy
Units
Unit Mix
Multifamily Units
Additional Details
Gross Income
Building Details
Year Built
Buildings
Stories
Listing Agency:
Exp Realty, LLC
Listed By:
Allen Elmore · License NM #12100177
(505) 686-3831
Source:
Rivasrealestatenm
Added: Aug 10
Changed: Nov 5
Last Checked: Nov 8 at 3:13AM
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 Exp Realty, LLC
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Investment Insights
Based on property information with market context.
Villa View Apartments is a two-story multifamily property with 22 units, including 12 studios and 10 one-bedroom apartments. The building is offered as-is and is currently 91% occupied.
The property is positioned near Four Corners Regional Airport, downtown Farmington, and the hospital, providing proximity to area employers, services, and amenities. Its unit mix combines smaller studio layouts with one-bedroom residences within a single apartment community.
The property is positioned near Four Corners Regional Airport, downtown Farmington, and the hospital, providing proximity to area employers, services, and amenities. Its unit mix combines smaller studio layouts with one-bedroom residences within a single apartment community.
Key Highlights
- 22‑unit apartment building with 12 studios and 10 one‑bedroom apartments
- Two‑story multifamily property offered as‑is
- 91% occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$76,843
Cap Rate
7.32%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,536,860
$1.5M
Cap Rate 7%
$1,097,757
$1.1M
Cap Rate 9%
$853,811
$853.8K
Market Conditions
NOI Build-Up for 10,300 SF
Gross rent
$152.0K $14.76/SF
− Vacancy
−$12.3K −$1.20/SF
EGI
$139.7K $13.56/SF
− OpEx
−$62.9K −$6.10/SF
NOI
$76.8K $7.46/SF
Area
San Juan County, NM
Vacancy
8.10%
Lease Rate
$14.76 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,536,860
Cap Rate 7%
$1,097,757
Cap Rate 9%
$853,811
Alternative Uses
Best Use
Apartment 5plus
$1.10M
$960.5K – $1.28M
NOI $76,843 @ 7.0% cap · market cap 7.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.13M
$1.86M – $2.49M
NOI $149,155 @ 7.0% cap · market cap 14.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
22
Residential units
91%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,036
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Two-story apartment community near Four Corners Regional Airport, downtown Farmington, and the local hospital.
Where is this apartment building located?
The property is located at 905 Walnut Dr Farmington, NM.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 22‑unit apartment building with 12 studios and 10 one‑bedroom apartments; Two‑story multifamily property offered as‑is; 91% occupied
