Bonita Street

2 Bedroom Real Estate has been listed for sale at 1069 Bonita Street in Grants for $4,000,000. Chat with a local expert, book a tour.

Grants

Valencia

1069 Bonita Street

1069 Bonita Street, For Sale in Grants - Zoocasa

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

1069 Bonita Street, Grants, NM

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