Multi-Family Investment Opportunity: Dual 3-Bedroom Units + Vacant Lot with Storage Discover an excellent income-producing property featuring two separate 3-bedroom residences and additional development/storage potential on a vacant lot. Perfect for investors seeking strong rental cash flow, house hacking, or portfolio expansion. Property Highlights Main Unit: 3 bedrooms, 2 bathrooms, 1,720 sq ft of living space Second Unit: 3 bedrooms, 1 bathroom, 822 sq ft of living space Total Living Space: Approximately 2,542 sq ft Additional Lot: Vacant parcel included with two storage units already in place ideal for extra rental income, workshop space, or future expansion This multi-family setup offers flexible living arrangements or turn-key rental income. The larger unit provides spacious family-style living with two full baths, while the smaller unit delivers efficient, cozy accommodations. Both units are well-suited for attracting quality tenants in a steady rental market. Call Michael Mazel at 505-519-6715.
For sale
Price cut: $7.5K (8/14)
$227,500
706 N 1st St, Gallup, NM 87301
3beds
2baths
2,542sqft
Single Family Residence
Built in 1959
0.27 Acres Lot
$218,200 Zestimate®
$89/sqft
$-- HOA
What's special
- 62 days
- 320
- 3
Zillow last checked:
Listing updated:
Listed by:
Michael Mazel 505-519-6715,
Keller Williams Realty Gallup Living 505-488-2344
Source: New Mexico MLS,MLS#: 20263840
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
Heating
- Forced Air
Features
- Flooring: Carpet, Laminate, Vinyl
- Has fireplace: No
- Fireplace features: Pellet
Interior area
- Total structure area: 2,542
- Total interior livable area: 2,542 sqft
Property
Features
- Stories: 1
- Patio & porch: Patio Covered
- Fencing: Cross Fenced,Fence
Lot
- Size: 0.27 Acres
- Topography: Cross Fenced, Fence, Irregular Lot
Details
- Parcel number: 2106088059437
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence
Materials
- Frame, Siding
Condition
- Year built: 1959
Utilities & green energy
- Utilities for property: Electricity Connected
Community & HOA
HOA
- Has HOA: No
Location
- Region: Gallup
Financial & listing details
- Price per square foot: $89/sqft
- Tax assessed value: $55,444
- Annual tax amount: $655
- Date on market: 6/29/2026
- Listing agreement: Exclusive Right To Sell
- Listing terms: Cash,Conventional
- Inclusions: Free-Standing Range, Gas Water Heater, Refrigerator
- Acres allowed for irrigation: 0
- Electric utility on property: Yes
Estimated market value
$218,200
$207,000 - $229,000
$2,037/mo
Price history
| Date | Event | Price |
|---|---|---|
| 8/14/2026 | Price change | $227,500-3.2%$89/sqft |
Source:  New Mexico MLS #20263840 Report a problem | ||
| 7/1/2026 | Listed for sale | $235,000$92/sqft |
Source: New Mexico MLS #20263840 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $635 +41.9% | $18,481 +3% |
| 2024 | $448 -35.9% | $17,943 -2.9% |
| 2023 | $698 -16% | $18,486 -18.8% |
| 2022 | $831 +41.4% | $22,780 +3% |
| 2021 | $588 +11.8% | $22,116 +46% |
| 2020 | $526 +4.4% | $15,152 -26.2% |
| 2019 | $504 -10.2% | $20,536 -10.4% |
| 2018 | $561 -15% | $22,920 -4.4% |
| 2017 | $660 | $23,965 -68.6% |
| 2016 | $660 -27.9% | $76,340 +200% |
| 2015 | $916 | $25,446 -4.9% |
| 2014 | $916 | $26,753 |
| 2013 | $916 | $26,753 -4.5% |
| 2012 | -- | $28,025 |
| 2011 | -- | $28,025 +6.1% |
| 2010 | -- | $26,410 |
| 2009 | -- | $26,410 +6.1% |
| 2008 | -- | $24,890 |
| 2007 | -- | $24,890 +6.1% |
| 2005 | -- | $23,470 +1.9% |
| 2004 | -- | $23,040 |
| 2003 | -- | $23,040 +2% |
| 2002 | -- | $22,590 |
| 2001 | -- | $22,590 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 87301
Nearby schools
Schools provided by the listing agent
- Elementary: None/Other
- Middle: None/Other
- High: None/Other
Source: New Mexico MLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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