0 Emily AveLos Lunas, NM 87031

Property Details for 0 Emily Ave

Lot size

24.60 AC

Property type

Land

Description

This exceptional 24.59-acre site in Los Lunas, New Mexico, presents a prime opportunity for multifamily development. Located in Valencia County, with an address on Emily Ave SW, zip code 87031 (APN R302199), this property is zoned per the Area Plan, allowing for the construction of up to 400 units. The land is priced at $6,000,000, translating to $15,000 per acre. Situated near a high concentration of employment growth, including Amazon, Meta/Facebook, and Walmart distribution centers, and a planned rail park, this location offers significant potential for attracting renters. The site boasts a highly advantageous position across the highway from these major employers, providing a built-in tenant base. Importantly, the property is fully entitled and build-ready, with mass grading complete and utilities readily available. A building permit is the only remaining requirement to commence construction. The Area Plan dictates a maximum height of two stories. This presents a unique opportunity to address the significant housing shortage in the area, contributing to a market experiencing substantial rent growth. The property is part of a larger 272.3-acre master plan, located just north of Cerro de Los Lunas Preserve.

Location Insight

City

Los Lunas

County

Valencia

State

New Mexico

Latitude

34.8193

Longitude

-106.797

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