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"1993 Market Update"

Originally appeared inAlbuquerque Apartment Report Vol. 1.1 - Q194
As the above chart indicates, the Albuquerque Apartment market prospered with a lower vacancies, higher rent per square foot, more building and unit sales, and a higher combined total dollar volume in sales over previous years. 1993 marks the largest number of apartments sold since before the 1986 tax law change. In Albuquerque, over 4,842 units in 233 different transactions totaling over $118 Million in sales represented by the following type of apartment complex: As the above chart and graph indicates, that for every sale of a larger apartment community (100+ units), twenty fourplexes, triplexes, or duplexes sold. Although the fourplexes, triplexes, and duplexes represent 87% of the total number of transactions last year, apartment communities over 100 units represented 73% of the total number of units sold and of the total dollar volume sold. Type % Deals % of Units % of $ Duplex 17.8% 1.7% 2.4% Triplex 13.3% 1.9% 2.4% Fourplex 35.6% 6.6% 7.1% 5to19 19.1% 8.3% 7.1% 20to49 4.0% 6.1% 6.5% 50to99 .4% 1.7% 6.9% 100+ 5.3% 73.4% 72.7% Other 4.4% .4% .9%


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by Todd Clarke CCIM (www.nmcomreal.com/nmcomreal)
 
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