The owner of the Girard Commons Apartments has listed the 108-studio apartment community for sale at $5.3 million. Todd Clarke, CEO of New Mexico Apartment Advisors, pictured, is representing the property.
Damon Scott
Reporter- Albuquerque Business First
The owner of the Girard Commons Apartments has listed the 108-studio apartment community near the University of New Mexico Law School campus for sale at $5.3 million.
Girard Commons consists of four buildings on 2 acres in a mixed-use corridor. Nearby businesses include the Tennis Club of Albuquerque, Alpine Sausage Kitchen, Don Mickey Designs and Padilla’s Mexican Restaurant. Todd Clarke, CEO of New Mexico Apartment Advisors, is representing the owner, whose name Clarke is not disclosing, and the property. Clarke said the owner is willing to sell the property as one portfolio or as individual buildings. He said the average rent for the units is $547 per month, with an average square footage of 353 square feet.
Financing for the past two owners was handled by Wells Fargo Bank, which has expressed an interest in financing for the next buyer, according to Clarke. Clarke added that the property draws from the University and Downtown Albuquerque submarkets and could appeal to doctors, nurses, law clerks, attorneys and graduate students who are looking for a month-to-month rental with hotel-style amenities such as laundry facilities, high-speed Internet, a courtyard, swimming pool and clubhouse. He said it is one of the more recently renovated properties in the north UNM campus area, with a new resident lounge and business center.
The four buildings are located at 1409/1410/1520 Girard Blvd. NE and 1440 Vassar Drive NE.
505.348.8315 | damonscott@bizjournals.com
Commercial/residential real estate, retail, restaurants
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