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Santa Cruz Multifamily Investment Opportunity

1004 State Road 76 Santa Cruz, NM 87567

1004 State Road 76, Santa Cruz, NM, 87567

$1,023,993

For Sale

$1,023,993

MULTI_FAMILY - Santa Cruz, NM

Property Size5,741 SF

Lot Size1.15 Acres

Price / SF$178.36

Days on Market376

Property Features for 1004 State Road 76

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 12
Bathrooms: 7
Rooms: Bedroom 1, Bedroom 10, Bathroom 2, Bathroom 3, Bedroom 12, Bathroom 6, Bathroom 5, Bedroom 8, Bathroom 1, Bedroom 9, Bedroom 11, Bathroom 4, Bedroom 5, Bathroom 7, Bedroom 6, Bedroom 3, Bedroom 7, Bedroom 2, Bedroom 4
Appliances: Refrigerator
Standard status: Active
APN: 1047120465165000000
Size: 5,741 SF
Lot size: 1.15 Acres

Taxes and HOA fees

Tax Description: T20 N R 8 S2 1.15 ACTract 188
Tax Annual Amount: 2948

Utilities

Heating system: Central, Radiant, Forced Air, Electric (Heating), Radiant Floor

Building Details

Year built: 1945
Floors in Building: 1
Number of units: 7
Flooring type: Vinyl, Carpet
Building materials: Adobe, Block, Frame, Stucco

Listing Agency NM Apartment Advisors, Inc.

524 Central Ave. SW Suite 801, Albuquerque, NM

Listed by Todd D Clarke · License #13711

Added: Jul 11, 2025 Updated: Jul 14 at 2:43 pm Checked: Jul 21 at 5:06 am

MLS# 1088544 Listing URL

Investment Insights

Based on property information with market context.

This seven-unit multifamily property is located in Santa Cruz, NM, near Santa Fe. The residences are positioned in close proximity to jobs, retail, restaurants, and casinos, including El Parasol and Rancho Chimayo Restaurants. The property, situated on a 1.15-acre lot, totals 5,741 square feet. Each unit has its own laundry or shares with one additional unit. Most residences feature private yard spaces, creating a cottage-like feel within a compound setting. This property presents a value-add opportunity by catering to the announced 20,000 jobs at Los Alamos National Laboratories (LANL), with an expected addition of 2,000 jobs per year.

Key Highlights

7‑plex with construction materials including adobe, block, frame, and stucco
Built in 1945
Heating options include central, radiant, forced air, electric heating, and radiant floor

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$149.5k	$26.04
− Vacancy	−$6.3k	−$1.09
EGI	$143.2k	$24.95
− OpEx	−$64.4k	−$11.23
NOI	$78.8k	$13.72

5,741 SF · lease $26.04/SF/yr · vacancy 4.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$1.13M

$984.6K – $1.31M (±1% cap)

NOI $78,769 @ 7.0% cap · market cap 7.69%

Second Best

—

no second resolved use

Theoretical Best

Office A

$1.56M

$1.36M – $1.82M (±1% cap)

NOI $109,125 @ 7.0% cap · market cap 10.66%

Zoning and permitted uses should be independently verified with local authorities.

Property Analytics

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

For sale
Apartment buildings
NM
Santa Cruz
87567
1004 State Road 76

What type of property is this?

Apartment building - Seven-unit property near Santa Fe, NM, with value-add potential.

Where is this apartment building located?

The property is located at 1004 State Road 76 Santa Cruz, NM.

What is the asking price?

The asking price for this property is $1,023,993.

What are key features of this property?

This property features: 7‑plex with construction materials including adobe, block, frame, and stucco; Built in 1945; Heating options include central, radiant, forced air, electric heating, and radiant floor