1000 Ln Joya St Española, NM 87532

This exceptional 11.33-acre land parcel in Española, New Mexico, presents a compelling investment opportunity. Located at 1000 La Joya St, with APN 174655616, this property boasts R-6 Urban Residential zoning, ideal for a low-density townhouse development. The lot size is 493,534.8 square feet, situated in Santa Fe County, zip code 87532. The asking price is $1,100,000, offering a pro-forma cap rate of 74.22% and a pro-forma NOI of $816,372. This prime location is near the Parasol restaurant and benefits from its proximity to the Los Alamos/Española/Santa Fe employment triangle, a region with a substantial population and high average household income. The property's potential to address the area's housing shortage makes it an attractive proposition for developers seeking to create a community of approximately 66 units. Projected rents are estimated at $1,825 per unit. Conceptual site plans and development models are available to qualified developers. This is a unique chance to contribute to the community's growth while securing a strong return on investment.