1069 Bonita Street, Grants NM 87020

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$4,000,000

1069 Bonita Street, Grants, NM 87020

bedrooms

bathrooms

square feet

40,752

Acreage

2.84

Open Houses

year built

1980

Full Baths

Half Baths

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CORE AssetAt full occupancy, the measures of investment performance at the ask price of $4,000,000 and current average rents of $665 a month are a GRM of 10.67, a 5.69% cap rate, $85,106 per unit, $106.39/sf, and an after-tax internal rate of return is 14.70% July 2024 appraisal indicated a value of $4,000,000.And Value AddThe property is currently 26% below market rents and that does not take into account the potential to offer furnished units to the adjacent hospital. If the rents are raised to the market of $901, the metrics of investment performance improve to a cap rate of 8.47% and a cash on cash of 12.73%.With runway - page 6 of the flyer outlines the steps for taking the 40 unrenovated units through renovation to market rents, with a value after renovation of $5.1M

Location
Subdivision	Valencia
County	Cibola
Elementary School	-
Middle School	-
High School	-

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Open houses

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MLS number: 1075104

Listing agent: Todd D Clarke #13711

Listing broker: Nm Apartment Advisors Inc. (505) 440-8633

Last update: Thursday, December 12 2024 at 6:59 a.m. EST

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