$865,000
Listed on Jun 16, 2026
22,000 sqft
416 hwy 66, Milan, 87021
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(505) 521 8550
us for more information
1069 Bonita Street
Grants, NM 87020
This property is not for sale.
Sold on 12.12.2024 for $4,000,000
2
Beds
1
Bath
40,752
SqFt Home
2
Stories
1980
Year Built
123,667
SqFt Lot
About this property
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… Show more
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
Property details for 1069 Bonita Street
Interior
Bathrooms Total:
1
Appliances:
Refrigerator
Flooring:
Carpet, Tile
Exterior and lot
Lot Size Acres:
2.84
Lot Size:
123,667 sqft
Building and construction
Property Type:
Residential Income
Property Sub Type:
Multi Family
Building Area Total:
40,752 sqft
Year Built:
1980
Construction Materials:
Frame, Stucco
Builder Name:
Hanosh
Levels:
Two
Number Of Units Total:
47
Stories:
2
Property Condition:
Resale
Provisional
MLS #:
1075104
Gross Income:
362230
Listing Terms:
Cash, Conventional
Number Of Buildings:
12
Occupant Type:
Owner
Operating Expense:
145396
Tenant Pays:
Other, See Remarks
Area and schools
Community Features:
Laundry Facilities
City:
Grants
Postal Code:
87020
MLS Area Major:
Cibola
Subdivision:
VALENCIA
County:
Cibola
Parcel Number:
2054063114349
Utilities
Utilities:
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Cooling:
Evaporative Cooling
Heating:
Central, Forced Air
Heating (Y/N):
Yes
Homes for sale similar to 1069 Bonita Street
1069 Bonita Street Grants, NM 87020 listed as MLS #1075104.
This 2 bedroom 40,752 sqft Residential Income built in 1980 located in Grants NM 87020.
1069 Bonita Street was sold for $4,000,000 as MLS #1075104.
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