3300 Rufina St Santa Fe, NM 87507

This 911-square-foot condominium, located at 3300 Rufina St, Santa Fe, NM 87507 (APN 910012065), presents a compelling investment opportunity. The property, built in 2005, is a one-story, owner-occupied unit within a gated community (Plaza Encantada) and currently vacant. Boasting two bedrooms and one bathroom, the condo features a remodeled kitchen with ample cabinetry and counter space, seamlessly flowing into a combined dining and living area. Recent upgrades include new windows (with a lifetime warranty), a new water heater, HVAC system, and a washer/dryer. The updated bathroom and bedroom floors add to the property's appeal. The current asking price is $259,900, translating to $285.29 per square foot. The property's current NOI is $16,800, yielding a 6.46% cap rate. Pro-forma NOI is projected at $28,800, resulting in an 11.08% pro-forma cap rate. The property includes two parking spaces per unit. Its convenient location offers proximity to Meow Wolf, Walmart, Home Depot, New Mexico Highlands University, fitness centers, and various restaurants. The permitted zoning is C-RI. The property is currently vacant, with an anticipated occupancy date of June 30, 2024, at an 80% occupancy rate.