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    3700 Bloomfield Hwy Farmington, NM 87401

    For Sale
    $900,000

    17-Unit Apartment Complex, High Potential

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional multifamily property at 3700 Bloomfield Hwy, Farmington, NM 87401, presents a compelling investment opportunity. The 0.793-acre lot houses a 17-unit apartment complex, comprising 15 studio apartments and two additional units created from a converted single-wide trailer. The property also includes a convenient on-site laundry room and a spacious house featuring an office. The asking price is $900,000. The property's versatility allows for operation as an apartment complex or a motel, catering to a diverse range of potential uses and income streams. The existing structure provides immediate income potential, while the substantial lot size offers possibilities for future expansion or development. Located in San Juan County, this property benefits from its strategic location in Farmington, New Mexico. This is a rare chance to acquire a well-established multifamily property with significant upside potential in a growing market. The property's current configuration and the potential for future development make it an attractive investment for both seasoned and emerging investors seeking strong returns. Detailed financial information is available upon request. This is a turnkey operation ready for immediate income generation.

    Property Features for 3700 Bloomfield Hwy

    General Information

    Property type
    Multifamily properties

    Building Details

    Units
    17

    HighLights

    • 17‑unit multifamily property on a 0.793‑acre lot in Farmington, NM.
    • Includes 15 studios and 2 additional units (converted single‑wide trailer).
    • Features on‑site laundry and a house with an office.
    • Asking price: $900,000.
    • Potential for operation as an apartment complex or motel.
    • Significant upside potential for expansion or development.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bluffview Motel Motel

    Suggested Use

    Realty agency Building Supply Wholesale Shop Auto Repair Shop Clothing Store Gym & Fitness Hotel & Motel Auto Parts Store Kitchen & Bath Food Market

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.1618486
    Latitude
    36.7195159

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    FAQs

    What type of property is this?
    Multifamily property - 17-Unit Apartment Complex, High Potential
    Where is this multifamily property located?
    The property is located at 3700 Bloomfield Hwy Farmington, NM.
    What is the asking price?
    The asking price for this property is $900,000.
    What are key features of this property?
    This property features: 17-unit multifamily property on a 0.793-acre lot in Farmington, NM.; Includes 15 studios and 2 additional units (converted single-wide trailer).; Features on-site laundry and a house with an office.
    Request Owner's contact information
    3700 Bloomfield Hwy Farmington, NM 87401
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    Farmington, NM 87401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3700 Bloomfield Hwy Farmington, NM 87401
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