1515 S Sunset Ave Roswell, NM
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60-unit Roswell, New Mexico multifamily asset with HAP contract.
Type:RETAIL
Property size:
25,812 SFLot size:
1.90 Acres- Added:
- Apr 30, 2024
- Days on Market:
- 730
- Last Refresh:
- Apr 5 at 10:03 pm
Property Features for 1515 S Sunset Ave
General Information
- Standard status
- Active
- Size
- 25,812 SF
- Lot size
- 1.90 Acres
- Property subtype
- RETAIL
Spaces For Lease
at 1515 S Sunset Ave Contact usListing agent Samuel Lacebal (949) 265-1691
Listing office Greysteel (949) 265-1691
Listing date Apr 30, 2024
Source Moodyscre
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All listing content including descriptions, pricing, images are the copyrighted material of Greysteel
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.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Sunset Villa Care ...
Nursing Home
Location Insight
- Map
- Local Demand
- City
- Roswell
- County
- Chaves
- State
- New Mexico
- Longitude
- -104.541
- Latitude
- 33.375
Nearby Similar for Lease
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+).
