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    La Luz Multifamily Investment Title is generated by Realmo AI

    1 Thru 16 Sams Court, La Luz, NM 88337

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    Claim this Listing
    For Sale
    $1,300,000

    MULTI_FAMILY - NM

    Lot size:
    3.46 Acres
    Added:
    Oct 6, 2025
    Days on Market:
    216
    Last Refresh:
    May 9 at 10:06 am

    Property Features for 1 Thru 16 Sams Court

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    54
    Bathrooms
    36
    Rooms
    Bathroom 10, Bathroom 19, Bedroom 34, Bedroom 12, Bedroom 25, Bathroom 11, Bedroom 29, Bathroom 9, Bedroom 35, Bedroom 40, Bathroom 14, Bathroom 20, Bathroom 28, Bedroom 6, Bedroom 41, Bedroom 42, Bedroom 9, Bedroom 7, Bedroom 19, Bathroom 1, Bedroom 46, Bedroom 24, Bedroom 52, Bedroom 43, Bedroom 1, Bedroom 48, Bedroom 38, Bedroom 3, Bedroom 11, Bedroom 39, Bedroom 22, Bedroom 5, Bathroom 16, Bathroom 29, Bedroom 4, Bedroom 20, Bedroom 51, Bedroom 2, Bedroom 36, Bathroom 6, Bedroom 15, Bathroom 23, Bathroom 24, Bedroom 47, Bathroom 7, Bedroom 33, Bathroom 27, Bathroom 36, Bedroom 31, Bathroom 2, Bathroom 17, Bedroom 32, Bathroom 35, Bathroom 21, Bathroom 30, Bedroom 14, Bedroom 16, Bedroom 23, Bathroom 8, Bathroom 31, Bathroom 15, Bedroom 18, Bathroom 33, Bathroom 3, Bathroom 12, Bedroom 27, Bathroom 22, Bathroom 34, Bedroom 13, Bathroom 32, Bathroom 26, Bedroom 8, Bedroom 44, Bedroom 45, Bedroom 53, Bathroom 13, Bedroom 50, Bedroom 30, Bedroom 54, Bedroom 49, Bathroom 25, Bedroom 10, Bathroom 5, Bathroom 4, Bedroom 37, Bathroom 18, Bedroom 26, Bedroom 28, Bedroom 21, Bedroom 17
    Appliances
    Dishwasher, FreeStandingElectricRange, Refrigerator
    Standard status
    Active
    APN
    01O4056089021342
    Lot size
    3.46 Acres

    Taxes and HOA fees

    Tax Annual Amount
    1000

    Utilities

    Heating system
    Central, Forced Air

    Building Details

    Floors in Building
    1
    Number of units
    20

    We can help!

    Listing Contact
    Thomas Gallegos
    Thomas Gallegos

    Listing agent Thomas Gallegos License #45240

    Listing office Berkshire Hathaway NM Prop 6711 Academy Rd Ste B, Albuquerque, NM

    Listing date Oct 6, 2025

    MLS# 1092578 Listing URL

    Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • High cap rate: Approximate cap rate over 7%, representing a strong investment opportunity.
    • Immediate income with upside: 20 of 29 spaces are occupied, with 11 already rehabbed, providing immediate income and potential for increased revenue.
    • Increasing income: The current owner is actively rehabbing one home every 30 days, increasing gross annual income by over $7,000 monthly.
    • Large 3.46 acre lot: Offering ample space for tenants and potential future development.
    • Convenient location: Located in La Luz, providing convenient access to Alamogordo's schools, shopping, and amenities.
    • Flexible management: Offers flexible management potential, allowing for various operational strategies.

    Overview

    Located in La Luz, New Mexico, this investment property features 29 spaces with existing meter infrastructure. Situated on 3.46 acres, the property currently has 20 occupied spaces with manufactured homes, all separately metered. Eleven of these homes have been rehabbed, providing immediate income. The property is being improved monthly, with the current owner rehabbing one home every 30 days, increasing gross annual income. Tenants benefit from convenient access to Alamogordo's schools, shopping, and amenities, while enjoying the quiet charm of La Luz. The property offers flexible management potential and room for future improvements.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Suggested Use

    Law Firm Auto Repair Shop Storage Facility Wine and Liquor Store Pet Store Pet Store & Service

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

    Location Insight

    • Map
    • Local Demand
    City
    La Luz
    County
    Otero
    State
    New Mexico
    Longitude
    -105.939451
    Latitude
    32.979473

    FAQs

    What type of property is this?
    Mobile home & RV park - Growing investment opportunity with 29 spaces in La Luz.
    Where is this mobile home & rv park located?
    The property is located at 1 Thru 16 Sams Court La Luz, NM.
    What is the asking price?
    The asking price for this property is $1,300,000.
    What are key features of this property?
    This property features: High cap rate: Approximate cap rate over 7%, representing a strong investment opportunity.; Immediate income with upside: 20 of 29 spaces are occupied, with 11 already rehabbed, providing immediate income and potential for increased revenue.; Increasing income: The current owner is actively rehabbing one home every 30 days, increasing gross annual income by over $7,000 monthly.
    (505) 261-8687
    We can help!
    Listing Contact
    Thomas Gallegos
    Thomas Gallegos
    Real Estate License ID: 45240
    Learn More
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    Realmo Value Estimations

    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

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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