Description
a rare opportunity to redevelop the WestWood Apartments in Roswell, NM, the UFO capital of the world and dairy capital of the southwest. This extreme value-add redevelopment is the perfect opportunity to rebuild from the ground up a desirable apartment community in an established and thriving neighborhood. The property is located along a central corridor in Roswell, just a few blocks from the New Mexico Military Institute, shops and restaurants, UFO tourism district, and so much more. An Albertson's grocery store and gas station are located across the street. The property is an extreme value add and is a offered with a start price of $61,111 per $6,111 per unit or $11.40 per square foot. The 100% vacant property contains a 9 unit building with 8 x one bedrooms, one two bedroom and a separate one bedroom house. Once renovated, and based on rents at 60% of AMI, the property's income approach to value comes in at $696,542 while the comparable sales come in at $872,567. Timelines: Register for the confidential documents and property tour at - Attend the Zoom property tour at noon on Tuesday, October 29th, 2024 (no other showing times are available, so please do not request one outside this time frame). - Offer deadline at 5pm on Thursday, October 31st 2024. Do not miss out on this out of the world opportunity to reposition an apartment asset in an intergalactic market.
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0.39ACRES
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School Ratings & Info
Description
a rare opportunity to redevelop the WestWood Apartments in Roswell, NM, the UFO capital of the world and dairy capital of the southwest. This extreme value-add redevelopment is the perfect opportunity to rebuild from the ground up a desirable apartment community in an established and thriving neighborhood. The property is located along a central corridor in Roswell, just a few blocks from the New Mexico Military Institute, shops and restaurants, UFO tourism district, and so much more. An Albertson's grocery store and gas station are located across the street. The property is an extreme value add and is a offered with a start price of $61,111 per $6,111 per unit or $11.40 per square foot. The 100% vacant property contains a 9 unit building with 8 x one bedrooms, one two bedroom and a separate one bedroom house. Once renovated, and based on rents at 60% of AMI, the property's income approach to value comes in at $696,542 while the comparable sales come in at $872,567. Timelines: Register for the confidential documents and property tour at - Attend the Zoom property tour at noon on Tuesday, October 29th, 2024 (no other showing times are available, so please do not request one outside this time frame). - Offer deadline at 5pm on Thursday, October 31st 2024. Do not miss out on this out of the world opportunity to reposition an apartment asset in an intergalactic market.
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PUBLISHER’S NOTICE: All real estate advertised herein is subject to the Federal Fair Housing Act and the New Mexico Fair Housing Act, which Acts make it illegal to make or publish any advertisement that indicates any preference, limitation, or discrimination based on race, color, religion, sex, handicap, familial status, or national origin. REALTORS® ASSOCIATION OF NEW MEXICO AND THE NEW MEXICO MLS, INC. will not knowingly accept any advertising for real estate that is in violation of the law. All persons are hereby informed that all dwellings advertised are available on an equal opportunity basis.