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1069 Bonita Street

Grants, NM 87020

2 beds
1 bath
40,752 sqft
~3 acre lot
$98 per sqft
1980 build
– on site

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

Listing courtesy of SWMLS / NM Apartment Advisors, Inc.

Last checked: Checking… • Last updated Dec 16, 2024 •

MLS# 1075104 —

The Building

Year Built:

1980
Builder Name:

Hanosh
New Construction:

false
Construction Materials:

Frame,Stucco
Stories:

2
Stories Total:

2
Levels:

Two
Basement:

false
Building Area Total:

40752.0
Building Area Source:

Appraiser

Interior

Flooring:

Carpet,Tile

Room Dimensions

Living Area:

40752.0
Living Area Source:

Appraiser

Location

Directions:

From ABQ - west on I-40 to Grants, exit 85 north to McBride Road, east on 1st street, right on East Roosevelt, north on Lobo Canyon, right on Bonita to property.
Latitude:

35.16425
Longitude:

-107.830141

The Property

Parcel Number:

2054063114349
Property Type:

ResidentialIncome
Property Subtype:

MultiFamily
Property Condition:

Resale
Zoning Description:

R-2
Lot Size Acres:

2.84
Lot Dimensions Source:

PublicRecords
Lot Size SqFt:

123666.84
Lot Size Source:

PublicRecords
Additional Parcels:

true

Listing Agent

Contact info:

Taxes

Tax Annual Amount:

10629.7
Tax Legal Description:

SUBD: VALENCIA BLOCK: 2, SUBD: VALENCIA BLOCK: 3, SUBD: VALENCIA BLOCK: 4 PORTION , PORTION, PORTION 1069 BONITA AVE GR

Beds

Bedrooms Total:

2

Baths

Total Baths:

1

Heating & Cooling

Heating:

Central,ForcedAir
Heating:

true
Cooling:

EvaporativeCooling
Cooling:

true

Utilities

Utilities:

ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
Green Energy Generation:

None

Appliances

Appliances:

Refrigerator

The Community

Subdivision Name:

VALENCIA
Community Features:

LaundryFacilities

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

Provided by WalkScore® Inc.

Sale history

Date	Event	Source	Price	% Change
12/11/24 Dec 11, 2024	Listed / Active	SWMLS	$4,000,000

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This multifamily located in Grants, NM 87020 is currently for sale for $4,000,000. 1069 Bonita Street is a 40,752 square foot multifamily with 2 beds and 1 bath that has been on Estately for 10 days. This multifamily is in the attendance area of Mount Taylor Elementary School, Los Alamitos Middle School, and Grants High School.

Listing Courtesy of: SWMLS and NM Apartment Advisors, Inc..

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.