1004 Nm 76, Espanola, NM 87532

Property Description

This seven plex is well located in close proximity jobs, retail, restaurants, casinos and the world famous El Parasol and Rancho Chimayo Restaurants. Each of the units has it’s own laundry or shares with one additional unit. Most of the residences have their own private yard spaces and truly feel like separate cottages in a larger northern New Mexico familial compound setting. The property is a value-add opportunity if repositioned to take advantage of the announced 20,000 jobs, at the rate of 2,000 per year, at Los Alamos National Laboratories (LANL) that will spill in the surrounding towns, cities and counties. The subject property is located 22 miles to the front gate of LANL. This property is strategically located at one corner of the Los Alamos/Espanola/Santa Fe employment triangle, which boasts a population of 217,008, with a median age of 45 and an average household income of $101,364. The property is offered at $1,023,993, with measure of investment performance that include a price per unit of $144,285, price per square foot of $178.37, a GRM of 8.32 and a cap rate at 7.67 with an average rent of $1,539 per unit per month. Please review the 26 page flyer and Espanola housing summit reports. Do not miss out on this rare opportunity to buy into a market that offers northern NM architecture in a family compound that is poised on the cusp of phenomenal job growth.