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    1515 S Sunset Ave Roswell, NM 88203

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    For Lease
    Contact for pricing

    60-unit Roswell, New Mexico multifamily asset with HAP contract.

    Property size:
    25,812 SF
    Lot size:
    1.90 Acres

    Property Features for 1515 S Sunset Ave

    General Information

    Size
    25,812 SF
    Lot size
    1.90 Acres

    Source: Greysteel Agent Samuel Lacebal

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Affordable Multifamily Asset For Rent

    Sunset 1600 is a 60-unit affordable multifamily asset located in Roswell, New Mexico. The property is 100% supported by a Project-Based Section 8 HAP contract, making all tenant rents at the property heavily subsidized by the federal government and providing a stable stream of revenue when fully-leased. Sunset 1600 is a Senior/Elderly-Designated community comprised of residents who meet the minimum age requirement of 62+. There is a material opportunity for new ownership to renovate the asset and capture a projected 25% Mark-Up-to-Market rent increase on the Option 2 HAP contract. By updating and modernizing the property, there is immense value to be created by owning a well-maintained HUD Subsidized asset. Sunset 1600 residents benefit from being in close proximity to numerous grocery, restaurant, and entertainment options as well as a K-12 school. Roswell is home to many major retailers like Starbucks, Home Depot, Sam’s Club, Target, and a Walmart Supercenter. The property has a size of 25812 square feet.
    Location Intelligence

    Current Use by Public Records

    Sunset Villa Care ... Nursing Home

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Roswell
    County
    Chaves
    State
    New Mexico
    Longitude
    -104.541075
    Latitude
    33.374976

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    FAQs

    What type of property is this?
    Apartment building - 60-unit Roswell, New Mexico multifamily asset with HAP contract.
    Where is this apartment building located?
    The property is located at 1515 S Sunset Ave Roswell, NM.
    What are key features of this property?
    This property features: - 100% supported by a Project-Based Section 8 HAP contract, ensuring a stable revenue stream.; - Opportunity to renovate and capture a projected 25% Mark-Up-to-Market rent increase on the Option 2 HAP contract.; - Senior/Elderly-Designated community (62+).
    (949) 265-1691
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    1515 S Sunset Ave Roswell, NM 88203
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    Roswell, NM 88203
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1515 S Sunset Ave Roswell, NM 88203
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