Apartment Acquisitions · Farmington
Sell Your Commercial Property In Farmington, NM
Own a commercial apartment building of five or more units in Farmington? We purchase multifamily properties around Downtown Farmington, Aztec, and the rest of San Juan County, and we review every deal against a clear buy box.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Farmington Submarkets: Downtown Farmington · Aztec · Bloomfield · Kirtland — San Juan County, NM
Why Farmington
Why We Buy Multifamily In Farmington
Farmington, in San Juan County, had 46,314 residents in ACS 2020-2024. Its median household income was $68,784, which is $4,725 above the New Mexico figure of $64,059. Renters hold 33.8% of occupied Farmington homes, and median gross rent is $1,037 a month.
Owners getting ready to sell commercial property in Farmington, NM meet buyers who start with a few numbers. HUD's FY2027 two-bedroom fair market rent for the Farmington MSA is $1,116. Rental vacancy is 5.9%, and the 2025 Farmington residential tax rate is 23.574 mills.
San Juan Regional Medical Center
San Juan Regional Medical Center in Farmington operates a 198-bed acute care hospital and employs more than 1,900 caregivers.San Juan College
San Juan College, founded in Farmington in 1956, reports fall credit enrollment above 9,200 students across five campuses.Mining and extraction jobs
Agriculture, forestry, fishing and mining employ 8.2% of Farmington workers, against 3.6% statewide, per ACS 2020-2024 table C24050.Our Buy Box
What We Buy In Farmington
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Farmington Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Farmington
Renters occupy 33.8% of Farmington homes, 5,787 of 17,114 occupied units, per ACS 2020-2024 table B25003. Farmington counts 1,239 homes in buildings of five or more units, 6.6% of 18,788 units, per table B25024. The median Farmington home dates to 1982, and 47.2% were built before 1980, per table B25034.
Rents and affordability in Farmington
Median gross rent in Farmington was $1,037 a month in ACS 2020-2024, $30 below the New Mexico median of $1,067. Farmington rental vacancy stood at 5.9%. About 38.5% of Farmington renter households spent 30% or more of income on housing, per table B25070.
| Unit size | HUD FY2027 FMR, Farmington, NM MSA |
|---|---|
| Efficiency | $850 |
| 1 bedroom | $855 |
| 2 bedroom | $1,116 |
| 3 bedroom | $1,545 |
| 4 bedroom | $1,673 |
These HUD FY2027 fair market rents for the Farmington, NM MSA took effect October 1, 2026. The $1,116 two-bedroom figure runs $79 above the Farmington median rent. Owners who sell commercial property in Farmington, NM can show buyers that spread.
Property taxes in San Juan County
Farmington district 5 IN carries 23.574 mills residential and 26.755 mills non-residential for tax year 2025. Those rates come from the New Mexico DFA 2025 Property Tax Facts. New Mexico taxes one-third of value under NMSA 7-37-3.
A $2,000,000 Farmington building has a taxable value of $666,666.67. At 23.574 mills, the annual bill is $15,716.00. At 26.755 mills, it rises to $17,836.67. Anyone planning to sell commercial real estate in Farmington, NM should expect buyers to price both figures.
Landlord rules in New Mexico
Farmington cannot cap rents, since NMSA 47-8A-1 bars local ordinances that control rental rates on private property. Deposits on leases under one year are limited to one month's rent under NMSA 47-8-18. Itemized deductions are due within 30 days of lease end or move-out, whichever is later.
A resident who does not pay within three days of written notice can face termination under NMSA 47-8-33. Other material breaches get a seven-day notice to cure. Clean notice files help when selling commercial property in Farmington.
What it means for an owner in Farmington
Farmington pairs $1,037 median rent with 5.9% rental vacancy and a 23.574-mill residential rate. To sell commercial property in Farmington, NM, run those inputs through our cap rate calculator.
When you are ready to sell your apartment building in Farmington, our seller page explains how we underwrite. Skyline Capital Investments buys 5+ unit buildings in Downtown Farmington, Aztec, Bloomfield and Kirtland.
Good To Know
Farmington Seller Checklist
More about selling in New Mexico →Investing in Farmington? See apartment syndications in Farmington →
- ACS figures are 2020-2024 five-year estimates for Farmington city, San Juan County and New Mexico.
- The $15,716.00 tax example applies 23.574 mills to one-third of a $2,000,000 value.
- Owners who sell commercial real estate in Farmington, NM should keep rent ledgers and notice files current.
Seller Guides
Selling A Building In Farmington
Learn More
Taxes & Rules For Farmington Property
The New Mexico rules that shape any deal in Farmington: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Farmington Seller FAQ
How do I sell commercial property in Farmington, NM?
Sell through a broker or directly to a buyer of 5+ unit buildings. Buyers compare your rents with the $1,037 Farmington median and the HUD FY2027 two-bedroom fair market rent of $1,116. Skyline Capital Investments buys 5+ unit apartment buildings in Farmington and San Juan County.
What property tax applies if I sell commercial real estate in Farmington, NM?
New Mexico taxes one-third of value under NMSA 7-37-3. The 2025 Farmington rate in district 5 IN is 23.574 mills residential and 26.755 mills non-residential. A $2,000,000 building would owe $15,716.00 or $17,836.67 a year at those rates.
Can Farmington limit how much I raise rents?
No. NMSA 47-8A-1 bars New Mexico cities and counties from passing ordinances that control rental rates on privately owned property. Farmington landlords still follow state rules, including the one-month deposit cap on leases under a year and a three-day notice for unpaid rent.
How old is Farmington rental housing?
Slightly older than the state average. The median Farmington home was built in 1982, against 1985 for New Mexico, per ACS 2020-2024. About 47.2% of Farmington housing predates 1980, compared with 42.7% statewide. Building age shapes how buyers budget for repairs.
What should I know before I sell multifamily property in Farmington?
Rent burden is lower than the state average. Some 38.5% of Farmington renter households pay 30% or more of income, against 45.0% statewide, and 20.2% pay half or more. Farmington rental vacancy is 5.9%, per ACS 2020-2024.
Do I need to fix up my Farmington building before selling?
No. We price in deferred maintenance, vacancy, and below-market rents ourselves, so you can sell the property as it stands.
How does a sale to you work in San Juan County?
Send the address, unit count, and any financials. We give feedback, then a written letter of intent if it fits, followed by diligence and a closing date that works for you.
Who buys occupied rental property in Farmington?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
How fast can I sell my apartment building in Farmington?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Have A Property In Farmington?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
