1515 S Sunset Ave, Roswell, NM

Spaces For Lease

at 1515 S Sunset Ave Contact us

Listing agent Samuel Lacebal Show Phone

Listing office Greysteel s***@greysteel.com Show Phone

Listing date Apr 30, 2024

Source Moodyscre

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Overview

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.

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

Location Insight

• Map
• Local Demand

City

Roswell

County

Chaves

State

New Mexico

Longitude

-104.541

Latitude

33.375

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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+).