919 S Paseo Del Pueblo Sur, TOWN OF TAOS (45A)

  • MLS - 106810
  • Area - TOWN OF TAOS (45A)
  • Price - $1,300,000
  • Address - 919 S Paseo Del Pueblo Sur

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 1940’s 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 B—redevelop 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!

  • City - Taos
  • ZIP - Other
  • Street Number - 919
  • Street Direction - S

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