1069 Bonita ST Active Save Request In-Person Tour Request Virtual Tour
Grants,NM 87020
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