1601 South Sunset Avenue

• 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.