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Four Hills East

13211 Central Ave NE, Albuquerque, NM 87123, USA


Investment Available

Purchase Price


Rehab Budget


Stabilized Value




Property Description

The subject property - currently flagged Econolodge is in the heart of the rapidly growing Four Hills area of Albuquerque, NM. The property adjoins a Waffle House and is across the street from a Sprouts and Epic Movie Theater, as well as a quarter mile from another property in the MKX portfolio-Four Hills Studios. The intense demand in affordable housing is evidenced by the aforementioned property, which MKX took from 65% to 98%+ occupied in less than 4 months once renovations were completed. The property is zoned MX-H (same as Four Hills Studios) which allows for both long-term and short-term housing. Our plan is to fill the bottom floor with a singularly master lease with the City of Albuquerque's non-profit housing arm, Heading Home- and fill the remaining floors with month-to-month leases. Based on demand seen in Four Hills, we expect a lease up period of less than 3 months to achieve 90%+ and a stabilized value of $5.7mm.

Property Details

Property Type

Motel Conversion | Multifamily





Target Cash on Cash


Year Built




Property Location

13211 Central Ave NE, Albuquerque, NM 87123, USA

Investing involves risk, including loss of principal. Past performance does not guarantee or indicate future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. While the data we use from third parties is believed to be reliable, we cannot ensure the accuracy or completeness of data provided by investors or other third parties. Neither Metz Kelly Holdings nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. The opportunities within these pages or documents do NOT constitute offers to sell securities or stock, or solicitations of offers to buy securities or stock. Prospective partners should consult with a tax or legal adviser before making any investment decision.

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