3.5 Acres of Mixed-Use Land for Sale in Grants, New Mexico

1039 Sage Ave, Grants, NM 87020

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$7,200,000
3.5 acres
Active saleListed ago

Looking for a promising investment in the real estate market? Consider this exceptional opportunity to acquire a fully operational 72-unit apartment complex situated in the heart of Cibola County. With its impressive features and established management in place, this property promises significant returns on investment.

Land

Mt Taylor Apartments website

@3.5 acres of land including 23 apartment buildings

Improvements

72-Unit Complex: Consisting of 23 buildings, this expansive complex offers ample space and large courtyard areas, creating a desirable living environment for tenants seeking comfort and tranquility.

Renovated Units: Most units have undergone recent refurbishments, including new roofs and thorough cleaning, ensuring that the property is well-maintained and appealing to potential renters.

20 Apartment Buildings @2800 Sq Ft. Each with 3 units per building.

3 Apartment Buildings @3200 SQ Ft. Each with 4 units per building.

General Operations

Desirability: With recent renovations and updates, these units have become some of the most sought-after accommodations in Cibola County, ensuring consistent tenant demand and minimal vacancy rates.

On-Site Maintenance Manager: A dedicated day-to-day maintenance manager resides on-site, guaranteeing prompt and efficient handling of any property-related issues, fostering tenant satisfaction and minimizing operational disruptions.

Professional Property Management: A seasoned property management company is already in place to oversee the majority of daily operations, streamlining administrative tasks and providing a hassle-free investment experience.

Cost-Effective Investment: Offered at approximately half the cost it would take to build a similar complex in today's market, this investment opportunity promises immediate income generation post-closing, eliminating the waiting period typically associated with new construction projects.

Region & Climate

Located 78 miles west of Albuquerque in the picturesque Cibola County, Grants is a vibrant city renowned for its rich history, breathtaking landscapes, and lower than average operating costs for businesses. As the county seat of Cibola County, Grants serves as a pivotal hub connecting travelers to an array of National Parks, Monuments, and Native American Pueblos.

Key Highlights:

Population and Location: With a population of 9,163 as of the 2020 Census, Grants offers the perfect blend of small-town charm and modern conveniences. Situated as a gateway to various National Parks and Monuments, the city provides an ideal base for exploring the region's natural wonders and cultural heritage.

Economic Landscape: Grants is home to a diverse workforce, with a total employment of 2.86k people. The city's major employment sectors include Health Care & Social Assistance, Educational Services, and Public Administration. Notably, the highest paying industries in Grants encompass Professional, Scientific, & Technical Services, Mining, Quarrying, & Oil & Gas Extraction, and Agriculture, Forestry, Fishing & Hunting, showcasing the city's robust economic diversity and potential for career growth.

Scenic Attractions: Positioned along the Trails of the Ancients Byway, a renowned New Mexico Scenic Byway, Grants offers residents and visitors a scenic journey through ancient trails, historical landmarks, and breathtaking natural vistas. Whether exploring the rugged landscapes or delving into the region's cultural heritage, Grants provides an enriching experience for nature enthusiasts and history buffs alike.

Property details

Coordinates
35.1584, -107.8354
Elevation
6,450 feet

Listing history

DateEventPriceChangeSource
Oct 21, 2023New listing$7,200,000
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This 3.5-acre property is located at 1039 Sage Ave in Grants, NM 87020 with latitude 35.1584 and longitude -107.8354. The property is currently available for sale for $7,200,000 with a price per acre of $2,057,143.

Verify sale details at the property source or contact Hayden Outdoors Real Estate at (970) 674-1990.

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Listing checked and updated . Parcel data by Regrid.

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