Otero Real Estate in NA

2100 Stardust Court, Alamogordo

This 52-unit community is nestled in tall pines trees on a cul-de-sac just a short distance to the foothills of the Sacramento mountains and short drive to New Mexico's iconic White Sands national monument.The area economy is driven by the military (Holloman air force base, hope to the 54th Fighter group and the MQ-9 Reaper/Predator Drones.)Built in 1986-1987, this 52 unit community has solid 2''x6'' construction, higher end finishes and vaulted ceilings in the upstairs units. The property contains 24 studios, 24 x 1 bedroom/1 bathrooms and 4 two bedrooms, two of which have garages.Based on an ask price of $4,724,000 the current average rents of $821 per month, the property's measures of investment performance include a 9.22 GRM, 7.50% cap rate before reserves

157 Westside Road, NA

A truly exceptional mountain estate set on 7.1 private acres backing directly to National Forest, offering an extraordinary combination of privacy, panoramic views, valuable water resources, and refined craftsmanship. Situated at approximately 6,500-7,000 feet, this remarkable property captures sweeping views of the Tularosa Basin and White Sands National Park, with panoramic windows throughout the home showcasing the dramatic New Mexico landscape.A rare and significant feature is the property's senior 1979 water right (File T-06298) for 3.0 acre-feet/year, complemented by a 2,500-gallon water storage tank and comprehensive water treatment system featuring reverse osmosis, iron removal, UV filtration, and soft water. A 1,000-gallon propane tank, instant hot water heater, and dedicated filtration room add to the property's impressive infrastructure.Inside, exceptional craftsmanship is evident throughout with 8-foot knotty alder doors, glazed hand-troweled plaster walls, vaulted timber-beam ceilings, solid hardwood and travertine flooring, quarter-inch safety glass windows, and art lighting. Central heating and air conditioning and an integrated security system provide modern comfort and convenience.The gourmet kitchen is a showpiece featuring increasingly rare Azul Bahia Brazilian blue granite, custom 8-foot knotty alder cabinetry, Wolf range, Sub-Zero refrigerator, custom island, stainless hood, ice maker, and walk-in pantry.The luxurious primary suite features panoramic views, a gas fireplace, surround sound, wall-mounted TV, and dual walk-in closets. The spa-inspired primary bath offers dual vessel sinks, granite counters, a natural stone walk-in shower, and private toilet room with bidet.The lower level provides exceptional flexibility with a separate entry, kitchenette, wood-burning fireplace, two-car garage, and dedicated water filtration room, ideal for guests, extended family, recreation, or a private retreat.With its National Forest setting, expansive acreage, White Sands views, senior water right, substantial water infrastructure, and extraordinary architectural finishes, 157 Westside Rd is a rare legacy property offering the privacy, beauty, and quality today's discerning luxury buyer seeks.

701 Riata Road, NA

Situated on 10.46 acres, this spacious manufactured home offers a functional split-bedroom floor plan with multiple living areas and room to make it your own. The large primary suite features a corner soaking tub, separate shower, dual-sink vanity, and generous storage. The open kitchen includes abundant cabinetry, an island, ample counter space, and a dining area with French doors leading outside. A built-in desk/workstation provides a convenient space for a home office or hobbies. The property is served by a private well, septic system, and includes a seller-owned solar panel system. Plenty of room to enjoy country living with space for livestock, recreation, or future improvements.

1301-1325 Fillmore Avenue, Alamogordo

Freedom Flats is a 32-unit multifamily investment located at 1301 - 1325 Fillmore Avenue in Alamogordo, New Mexico. The property features four 2-story buildings with 8 units each, built in 1983 on 1.32 acres total. All 32 units are 2 bed 1 bath totaling 967 sf. The property has undergone over $1,200,000 in interior and exterior upgrades and is fully renovated as of 2024.Stabilized and cash-flowing, this investment offers a 7.21% current cap rate at 100% occupancy with a clean rent roll. The property is priced at $128,125 per unit and is priced below replacement cost. Current rents trail the comparables by $100-$155, and leases roll through 2026-2027, meaning rent growth is built in and requires no additional investment.

909 CEDAR Avenue, Alamogordo

Beautiful home over 1800 sq ft on a corner lot! Featuring 2 spacious bedrooms, 2 bathrooms, and a convenient 1-car garage. Enjoy two comfortable living areas perfect for family or entertaining. Make this home your own by adding your personal touches! Ideally located close to White Sands, offering neighborhood charm and easy access to amenities. Don't miss this fantastic opportunity to create your dream space in a desirable location. Schedule a showing today!

1 Thru 16 Sams Court, NA

Incredible VALUE-ADD investment opportunity in the heart of La Luz, New Mexico! Situated on approximately 3.46 acres, this manufactured housing property consists of 29 platted spaces and offers significant potential for continued improvement and increased rental income.Located just minutes from Alamogordo, residents enjoy convenient access to shopping, schools, employment, and other amenities while maintaining the quieter setting of La Luz. With existing rental income, ongoing renovations, separately metered utilities, and additional value-add potential across the 29 platted spaces, this property presents an opportunity for an investor to continue the current improvement strategy and expand the property's income-producing potential. All these factors contribute to the pent up demad for these units. Rates have room to be increased based on area market.The property currently has 10 renovated homes that are 100% occupied and producing rental income. The seller has been systematically improving the property, completing approximately one full home renovation every three months with a single contractor. Each rehabilitation averages approximately $15,000 and includes substantial improvements such as roofing, plumbing, HVAC, and other necessary upgrades.The property features separately metered electric and community water service, allowing for streamlined utility management. Some homes have also been converted to all-electric service, with the seller continuing this approach as additional homes are renovated.Although the property contains 29 platted spaces, current Assessor records and drawings reflect approximately 20-21 spaces due to several existing manufactured homes being positioned across original lot lines. This creates a unique opportunity for a future owner to evaluate the property's existing layout and potential long-term utilization. Current ownership reports approximately $1,200 annually in property taxes and approximately $1,200 annually for general liability insurance. Tenants handle their own trash disposal utilizing a public dump station located approximately one mile from the property, and the seller does not charge tenants separately for septic or trash service.

State Rte 2001, Alamogordo

This property is just a few hundred yards from NASA's NM Museum of Space History. Opportunity to develop into a subdivision, retirement community, or as a solar field. The views from this property are breathtaking.

0 Divers Cove, Alamogordo

This is an outstanding 4.84 acre lot surrounded by high-end custom homes, it is adjacent to the Tierra de Suenos Subdivision, and yet it is still very private with great mountain views. Build your dream home or develop the property for your needs. Joint ventures are possible, land lease, replats, use your imagination. This is nearly 5 acres with utilities on three different sides. All information is subject to buyer due diligence.

0 Hamilton Road, Alamogordo

This is a well-located 32+ acre property where much development is occurring. It is priced well and it is very difficult to find such a large parcel in town. Too big for you? Purchase a portion of it. Joint ventures, owner financing, replats, and more is possible. Use your imagination. The zoning map says R1 but the taxes seem to indicate commercial. Come with your plan and let's pass it by planning and zoning. You can also hold for future investments because taxes are low. Buyer due diligence recommended.