1601 South Sunset Avenue

Property feature image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Property gallery image
Address: 1601 South Sunset Avenue, Roswell, New Mexico, US
Created date: May 9, 2024
Date last updated: May 9, 2024
  • 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.

Property Description

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.

Key Property Information

Listing Status: Unavailable
Listing Type: Call for offers
Property Types: Apartment Buildings
No. of Units: 60
Year Built: 1970
Opportunity Zone: No
Property Website Click Here
Address: 1601 South Sunset Avenue, Roswell, NM 88203, USA
Provided by:

Similar Properties in the Area

2315 N Jefferson Hobbs, NM

Hobbs , New Mexico
Phoenix & Southwest + Apartment Buildings
Units: 12
Price: $840,000

231 W 32Nd Street

Tucson , Arizona
Phoenix & Southwest + Apartment Buildings
Price: $435,000

1290 E Edison Street

Tucson , Arizona
Phoenix & Southwest + Apartment Buildings
Price: $695,000

Brokers

View All
popup background image