$4,000,000

1069 Bonita Street , Grants, NM 87020

 
Bedrooms:2 beds
Bathrooms:0 baths
Residential:40,752 sqft
Lot:2.84
Year Built:1980
Listing Status:Active

Listing Agent

Todd Clarke
http://www.nmapartment.com
Loan Amount:
Interest:
Term (Years):
Annual Tax:
Monthly Principal + Interest:$
Monthly tax: $
Total Payment:$

These amounts are estimates and do not take into consideration other expenses such as PMI, etc.. This is only an estimate.

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

Detailed Items

Other Information

1069 Bonita Street, Grants, NM, 87020 is a residential listing of 40,752 sqft on a lot of 2.84. This residential listing has 2 bedrooms, and 0 baths. The map for this location can be viewed on Google maps at Google maps to property1069 Bonita Street, Grants, NM
Copyright © 2025 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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