Skip To Content

    919 S Paseo Del Pueblo Sur

    Taos, NM 87571
    • $1,300,000
    • STATUS: Active
    • ON SITE: 18 days
    • MLS #: 106810
    UPDATED: 25 min ago
    $1,300,000
    • 0
      BEDS
    • 1.9
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family

    School Ratings & Info

    Listing provided courtesy of : .

    Description

    Formerly known as the SunGod Lodge, this unique property is in a high barrier to entry market with a heavy demand for more housing from work force affordable to high end luxury. Located on the main road through and across the street from a Walmart, the property is well positioned to rise like a Phoenix to its next phase. The property contains a total of 57 units in 3 buildings built in the 1980s, and the original construction 1940s lodge. A recent housing study performed on behalf of Taos County indicates a severe shortage of housing and immediate demand of an additional 1,400 rental units. Scenario A - redevelop as high end micro-housing - the back door approach to development indicates an upside of $3,119,251. Scenario Bredevelop as affordable housing with rents capped at 80% of Adjust Median Income (including utilities). The back door approach to development value indicates a financial gap of $482,757 would need to be provided to make this renovation possible. Other scenarios include preserving the housing along the back and redeveloping the frontage facing Walmart with commercial opportunities. Amazing financing available from the Ventana Fund (disclosure, Listing broker volunteers on the board of directors) possible 80% loan to value for the acquisition and 80% of the renovation costs at below market interest rates. Timelines: Register for the confidential documents and property tour at Attend the zoom virtual tour at noon on Tuesday, May 18th, 2021. Offer deadline at Noon on Thursday, May 20th, 2021. Do not wait this is a once in a generation opportunity to create an above market rate of return through hard work and diligence!

    Monthly Payment Calculator

    © 2021 Taos Association of Realtors MLS, Inc. All rights reserved. Data last updated: 2021-05-16T08:29:05.5.
    The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange (“IDX”) program of TCAR MLS, Inc. Real estate listings held by brokers other than Chisum Realty Group | Keller Williams are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed.

    This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional service and that the publisher and authors are not offering such advice in this publication. If real state, legal, or other expert assistance is required, the services of a competent, professional person should be sought.

    The information contained in this publication is subject to change without notice. TCAR MLS, INC. MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. TCAR MLS, INC. SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, PR USE OF THIS MATERIAL.

    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.

    TCAR 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.
    www.chisumgroup.com/homes/116519349
    Print Image

    919 S Paseo Del Pueblo Sur Taos, NM 87571

    • Price: $1,300,000
    • Status: Active
    • Updated: 25 min ago
    • MLS #: 106810
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.9
    Acres
    Neighborhood:
    Town Of Taos (45A)
    Area:
    Town Of Taos (45A)
    Property Description
    Formerly known as the SunGod Lodge, this unique property is in a high barrier to entry market with a heavy demand for more housing from work force affordable to high end luxury. Located on the main road through and across the street from a Walmart, the property is well positioned to rise like a Phoenix to its next phase. The property contains a total of 57 units in 3 buildings built in the 1980s, and the original construction 1940s lodge. A recent housing study performed on behalf of Taos County indicates a severe shortage of housing and immediate demand of an additional 1,400 rental units. Scenario A - redevelop as high end micro-housing - the back door approach to development indicates an upside of $3,119,251. Scenario Bredevelop as affordable housing with rents capped at 80% of Adjust Median Income (including utilities). The back door approach to development value indicates a financial gap of $482,757 would need to be provided to make this renovation possible. Other scenarios include preserving the housing along the back and redeveloping the frontage facing Walmart with commercial opportunities. Amazing financing available from the Ventana Fund (disclosure, Listing broker volunteers on the board of directors) possible 80% loan to value for the acquisition and 80% of the renovation costs at below market interest rates. Timelines: Register for the confidential documents and property tour at Attend the zoom virtual tour at noon on Tuesday, May 18th, 2021. Offer deadline at Noon on Thursday, May 20th, 2021. Do not wait this is a once in a generation opportunity to create an above market rate of return through hard work and diligence!
    Exterior Features

    Garage Type None Land Cover Other Surface Water None Type Apartment

    Property Features

    Tenancy Other

    © 2021 Taos Association of Realtors MLS, Inc. All rights reserved. Data last updated: 2021-05-16T08:29:05.5.
    The data relating to real estate for sale in this web site comes in part from the Internet Data Exchange (“IDX”) program of TCAR MLS, Inc. Real estate listings held by brokers other than Chisum Realty Group | Keller Williams are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed.

    This publication is designed to provide accurate and authoritative information in regard to the subject matter covered. It is displayed with the understanding that the publisher and authors are not engaged in rendering real estate, legal, accounting, tax, or other professional service and that the publisher and authors are not offering such advice in this publication. If real state, legal, or other expert assistance is required, the services of a competent, professional person should be sought.

    The information contained in this publication is subject to change without notice. TCAR MLS, INC. MAKES NO WARRANTY OF ANY KIND WITH REGARD TO THIS MATERIAL, INCLUDING, BUT NOT LIMITED TO, THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. TCAR MLS, INC. SHALL NOT BE LIABLE FOR ERRORS CONTAINED HEREIN OR FOR ANY DAMAGES IN CONNECTION WITH THE FURNISHING, PERFORMANCE, PR USE OF THIS MATERIAL.

    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.

    TCAR 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.
     
    https://bt-photos.global.ssl.fastly.net/taos/orig_boomver_1_106810-2.jpg https://bt-photos.global.ssl.fastly.net/taos/orig_boomver_1_106810-2.jpg https://bt-photos.global.ssl.fastly.net/taos/orig_boomver_1_106810-2.jpg
    Logo
    Chisum Realty Group | Keller Williams
    6 First National Place
    Angel Fire NM, 87710
    Listing provided courtesy of : .