Homes for sale - 1069 Bonita ST, Grants, NM 87020

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Listed by NM Apartment Advisors, Inc.

$4,000,000

Est. payment - /mo

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2 BD

1 BA

40,752 SqFt

Active

1069 Bonita ST Grants, NM 87020

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Anton Determan

tdeterman.re@gmail.com +1(505) 818-9449

UPDATED:

12/12/2024 12:44 PM

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 40,752 sqft

Price per Sqft $98

Subdivision Valencia

MLS Listing ID 1075104

Bedrooms 2

Construction Status Resale

HOA Y/N No

Year Built 1980

Annual Tax Amount $10,629

Lot Size 2.840 Acres

Acres 2.84

Lot Dimensions Public Records

Property Description

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

State NM

County Cibola

Area 390 - Cibola

Interior

Heating Central, Forced Air

Cooling Evaporative Cooling

Flooring Carpet, Tile

Fireplace No

Appliance Refrigerator

Exterior

Community Features Laundry Facilities

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Resale

Others

Tax ID 2054063114349

Acceptable Financing Cash, Conventional

Green/Energy Cert None

Listing Terms Cash, Conventional

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Anton Determan

+1(505) 818-9449

1069 Bonita ST Grants, NM 87020

Anton Determan

Key Details

Location

Interior

Exterior

Building

Others

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1069 Bonita ST