Property Description

Presenting the La Luz Building at 2325 Cerrillos Road, a substantial 24,000-square-foot commercial multifamily asset offering a uniquely secure investment profile in the Santa Fe market. This impressive three-story property features a dual-use configuration, anchored by 24 residential apartments encompassing 32 total rooms on the upper levels. The residential component operates exclusively under specific use restrictions as a 100% low-income housing community, which is directly supported by an active HUD grant currently in place. This grant structure provides an investor with highly stable, government-backed revenue, significantly mitigating vacancy risks and ensuring a reliable, consistent cash flow. Adding immediate upside to this steady foundation, the ground floor is dedicated to commercial office spaces that are ready to be leased to professional tenants. These commercial suites offer excellent footprint and accessibility, creating a robust secondary income stream entirely separate from the residential rent roll above. The building's substantial structure is purposefully designed to accommodate this mixed-use demand, maintaining clear separation between the ground-floor business operations and the private residential housing. By combining the guaranteed income stability of a HUD-supported housing program with the value-add leasing potential of ground-level commercial offices, this asset delivers a highly specialized and lucrative financial model. This is a rare opportunity to acquire a high-capacity, dual-revenue property with built-in financial safeguards.

Property Features