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Investment Highlights

  • Newly renovated w/easy access to Los Alamos

Executive Summary

Incredible 7-unit investment opportunity in the heart of Española’s desirable westside neighborhood, nestled between the Rio Grande River and the Plaza. 720 School Street is fully occupied and has been extensively remodeled, offering a rare turnkey multifamily property with low/no maintenance ownership. Updates include new flooring, newer central heat and air conditioning, upgraded electrical and plumbing, newer kitchens with granite countertops, natural stone backsplash, stainless steel appliances, LED lighting throughout, newer stucco, metal roof, and updated windows. Each unit features its own in-unit laundry and outdoor space, plus designated parking. Residents also enjoy access to a shared 0.56-acre lot—ideal for relaxing or gathering. Condominium documents are complete and available for review, and ready to record, providing future flexibility for individual unit sales. Located approximately 20 miles from Los Alamos National Laboratory, this property offers strong rental appeal with excellent long-term investment potential.

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Property Facts

Price $1,922,326 CAD
Price Per Unit $274,618 CAD
Sale Type Investment
Cap Rate 7.73%
Gross Rent Multiplier 9.11
No. Units 7
Property Type Multifamily
Property Subtype
Apartment
  • Multifamily Apartments
Apartment Style Low-Rise
Building Class C
Lot Size 0.56 AC
Building Size 8,984 SF
No. Stories 2
Year Built/Renovated 1948/2026
Parking Ratio 2.22/1,000 SF

Amenities

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Disposal
  • Microwave
  • Storage Space
  • Washer/Dryer
  • Heating
  • Tile Floors
  • Eat-in Kitchen
  • Kitchen
  • Granite Countertops
  • Hardwood Floors
  • Ice Maker
  • Refrigerator
  • Oven
  • Stainless Steel Appliances
  • Range
  • Tub/Shower
  • Walk-In Closets
  • Yard
  • Breakfast Nook
  • Den
  • Dining Room
  • Double Pane Windows
  • Family Room
  • Framed Mirrors
  • Freezer
  • Linen Closet
  • Pantry
  • Patio
  • Porch

Site Amenities

  • 24 Hour Access
  • Controlled Access
  • Trash Pickup - Curbside
  • Online Services
  • Private Bathroom
  • Walk-Up
  • Smoke Detector
  • Listing ID: 39825156

  • Date on Market: 2026-03-18

  • Last Updated:

  • Address: 720-724 School St, Espanola, NM 87532

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