RARE SANTA FE REHAB OPPORTUNITY -- SERIOUS SELLER! Hard-to-find value-add opportunity just minutes from the Santa Fe Plaza, shopping, dining and everything Santa Fe has to offer. Properties with this kind of upside in this location do not come along often. Ideal for an investor, rehab/flip, rental or buyer looking to create significant value through renovation. The property already features upgraded windows, a working water heater and a HUGE fully fenced yard with plenty of room to bring your vision to life. The location, lot and upside are here, it simply needs the right buyer and the right vision. Priced aggressively - Seller wants this SOLD. If you've been waiting for a Santa Fe project with real potential, this is one to see
This inviting 3-bedroom, 2-bathroom home at 856 Gilmore Street was built by Lomouraux Construction Company, Offering approximately 1,350 sq. ft. of living space, the home features beautiful oak flooring, exposed beams in the living room, a new stovetop stove, updated windows, and a modern refrigerated air and heating system. Recent upgrades include a new water heater, plumbing, and fresh roofing and stucco.The front and back yards are nicely landscaped with low-water buffalo grass, and the property includes generous outdoor living spaces -- a 75 sq. ft. front portal patio and a 168 sq. ft. backyard portal patio. Sitting on one of the larger lots in the subdivision (about 6,823 sq. ft.), this home offers both comfort and space.Conveniently located near downtown and the Santa Fe Railyard, the property is not part of the historic district and is within walking distance to Whole Foods, making it ideal for those who value accessibility and modern living in a classic Santa Fe setting.
Rare opportunity to own a 3 bed 2 bath ranch style home 2271 sq. ft. on 1.45 AC in the Rodeo Road Estates Subd! Enjoy the serenity of the front courtyard with a covered patio and grass lawn. Enjoy the stewarded irrigation incorporated with the xeriscape landscaping. This home's entrance is a bright foyer with vaulted ceilings open to the large dining area. The open custom kitchen is ideal for cooking and entertaining guests. Beyond the contemporary barn door entrance is a spacious living area featuring wood vigas, a custom fireplace with large wood mantle, numerous windows add lots of natural light, & rustic accented flooring boasts Santa Fe charm. Fully fenced backyard with gate for backyard access, a small pond accent, basketball court, attached 2 car garage, & space for an RV!
Just minutes away is the transformative Midtown District redevelopment, a major mixed-use project expected to bring new housing, employment centers, creative office space, parks, and cultural uses to the heart of Santa Fe. This continued investment enhances the long-term growth story for surrounding neighborhoods and increases the desirability of nearby housing.The property consists of three one-bedroom / one-bath units totaling approximately 1,740 square feet on a 0.11-acre parcel. Metrics of investment performance at the ask price of $496,084 and average rents of $1,270 include a GRM of 10.83, a before-reserves cap rate of 5.89%, a price per sf of $285.11, a price per unit of $165,361 with an after-tax IRR of 12.9%.
Daria Derebera
Real Estate Broker in Albuquerque, NM
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