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    1031 Smith Ln Farmington, NM 87401

    For Sale
    $240,000

    Multi Family - Farmington, NM

    Type:Multi Family
    Days on Market:
    86
    Last Refresh:
    Dec 11 at 7:06 am

    Property Features for 1031 Smith Ln

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Multi Family
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4
    Bedrooms
    4
    Bathrooms
    4
    Parking features
    Carport, Paved or Surfaced
    Appliances
    Range, Refrigerator

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Floors in Building
    1
    Building materials
    Frame, Stucco
    Roof type
    Metal
    Architectural style
    Other

    RE/MAX of Farmington (505) 327-4777 [email protected]

    Listing agent Elizabeth M Tafoya (505) 327-4777 License #17823

    Listing date Sep 17, 2025

    MLS# 25-1069 Listing URL

    Copyright © 2025 San Juan County Board of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multi-Family Property with Income Potential

    This multi-family property includes addresses 1031, 1033, and 1035 Smith Lane in Farmington, NM. It features an over 4000 sq. ft. former laundromat, a site-built house with 2 bedrooms, 1 bathroom, and 2 living areas, approximating 1514 sq. ft., currently owner-occupied. Additionally, there are three older single mobile homes, each with 2 bedrooms and 1 bathroom. Tenants are responsible for their own utilities, except for water, which costs around $380 monthly. There is also an additional mobile home space suitable for an RV or single wide. The property is centrally located and presents income potential, though it requires some TLC.
    Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Farmington
    County
    San Juan
    State
    New Mexico
    Longitude
    -108.174228
    Latitude
    36.740667

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    FAQs

    What type of property is this?
    Multifamily property - Multi-family property featuring a laundromat, house, and mobile homes.
    Where is this multifamily property located?
    The property is located at 1031 Smith Ln Farmington, NM.
    What is the asking price?
    The asking price for this property is $240,000.
    What are key features of this property?
    This property features: - High income potential from multiple rental units.; - Includes a 4000 sq. ft. laundromat.; - Features a 1514 sq. ft. site-built house (2 BR, 1 Bath) currently owner-occupied.
    (505) 327-4777
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    1031 Smith Ln Farmington, NM 87401
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    Farmington, NM 87401
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1031 Smith Ln Farmington, NM 87401
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