720-724 School St - Apartments FOR SALE


Espanola, NM 87532
$1,400,000 USD
505-820-7000
720-724 School St, Espanola, NM for Sale
$1,400,000 USD
Apartments - FOR SALE
1/74
null | 7.73% Cap Rate

720-724 School St
Espanola, NM 87532


HIGHLIGHTS

  • Newly renovated w/easy access to Los Alamos

OVERVIEW

Incredible 7-unit investment opportunity in the heart of Española’s desirable westside neighborhood, nestled between the Rio Grande River and the Plaza. 720 School Street is fully occupied and has been extensively remodeled, offering a rare turnkey multifamily property with low/no maintenance ownership. Updates include new flooring, newer central heat and air conditioning, upgraded electrical and plumbing, newer kitchens with granite countertops, natural stone backsplash, stainless steel appliances, LED lighting throughout, newer stucco, metal roof, and updated windows. Each unit features its own in-unit laundry and outdoor space, plus designated parking. Residents also enjoy access to a shared 0.56-acre lot—ideal for relaxing or gathering. Condominium documents are complete and available for review, and ready to record, providing future flexibility for individual unit sales. Located approximately 20 miles from Los Alamos National Laboratory, this property offers strong rental appeal with excellent long-term investment potential.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$156 USD /SF

# OF UNITS

7

PRICE/UNIT

$200,000

CAP RATE

7.73%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

School Street

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1948

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,394 SF

ZONING

-

APN/PARCEL ID

1-046-120-165058,1-046-120-170058

ASK ABOUT THIS PROPERTY

RACHAEL BACALogic Real EstateMore Info
505-820-7000

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RACHAEL BACALogic Real EstateMore Info
505-820-7000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.