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.
For sale
$1,400,000
720 School St, Espanola, NM 87532
18beds
9baths
6,756sqft
:
Get pre-qualified$8,580/mo
Multi Family, Apartment
Built in 1948
-- sqft lot
$-- Zestimate®
$207/sqft
$-- HOA
What's special
Metal roofUpdated windowsStainless steel appliancesUpgraded electrical and plumbingNatural stone backsplashLed lighting throughout
- 165 days |
- 35 |
- 0 |
Zillow last checked:
Listing updated:
Listed by:
Rachael L. Baca 505-310-4929,
Logic Real Estate 505-820-7000,
Lynn G-Scott 505-470-9005,
Logic Real Estate
Source: SFARMLS,MLS#: 202600611
Originating MLS: Santa Fe Association of REALTORS
Originating MLS: Santa Fe Association of REALTORSFacts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 18
- Bathrooms: 9
Heating
- Forced Air
Cooling
- Central Air, Refrigerated
Appliances
- Included: Dryer, Dishwasher, Gas Cooktop, Disposal, Microwave, Oven, Range, Refrigerator, Water Heater, Washer
Features
- Interior Steps
- Has basement: No
- Has fireplace: No
Interior area
- Total structure area: 6,756
- Total interior livable area: 6,756 sqft
Property
Accessibility
- Accessibility features: Not ADA Compliant
Features
- Levels: Multi/Split
Lot
- Size: 0.56 Acres
Details
- Parcel number: 1046120170058
- Zoning: R-1, 2, 3, 4, 5, 6
- Zoning description: R5
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: Multi-Level,One Story
- Property subtype: Multi Family, Apartment
Materials
- Adobe, Block, Stucco
- Roof: Metal
Condition
- Year built: 1948
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Other, Separate Meters, Electricity Available
Community & HOA
Community
- Security: Dead Bolt(s), Heat Detector, Smoke Detector(s)
HOA
- Has HOA: No
Location
- Region: Espanola
Financial & listing details
- Price per square foot: $207/sqft
- Tax assessed value: $641,698
- Annual tax amount: $6,132
- Date on market: 2/19/2026
- Listing terms: Assumable,Cash,Conventional,1031 Exchange,Other,See Remarks
- Tenant pays: Cable TV, Electricity, Sewer, Trash Collection, Water
- Electric utility on property: Yes
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 2/19/2026 | Listed for sale | $1,400,000+86.7%$207/sqft |
Source:  SFARMLS #202600611 Report a problem | ||
| 12/17/2024 | Sold | -- |
Source: SFARMLS #202402488 Report a problem | ||
| 11/15/2024 | Pending sale | $750,000$111/sqft |
Source: SFARMLS #202402488 Report a problem | ||
| 7/3/2024 | Listed for sale | $750,000$111/sqft |
Source: SFARMLS #202402488 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $6,132 +112% | $213,899 +96.8% |
| 2024 | $2,893 +0.5% | $108,667 +3% |
| 2023 | $2,879 +6.2% | $105,502 +3% |
| 2022 | $2,710 +13.5% | $102,430 +3% |
| 2021 | $2,387 +1.7% | $99,446 +3% |
| 2020 | $2,347 | $96,550 +3% |
| 2019 | $2,347 +15.3% | $93,739 -2.6% |
| 2018 | $2,035 -5.3% | $96,200 -3.3% |
| 2017 | $2,150 -6.4% | $99,500 -3% |
| 2016 | $2,296 | $102,580 -2.6% |
| 2015 | $2,296 +6.4% | $105,329 +46.6% |
| 2014 | $2,157 +52.4% | $71,852 +2.5% |
| 2011 | $1,416 +20.1% | $70,119 |
| 2009 | $1,179 | $70,119 |
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: 87532
Nearby schools
GreatSchools rating
- 5/10James Rodriguez Elementary SchoolGrades: 1-6Distance: 0.5 mi
- 5/10Carlos F. Vigil Middle SchoolGrades: 7-8Distance: 1.5 mi
- 6/10Espanola Valley High SchoolGrades: 9-12Distance: 2.8 mi
Schools provided by the listing agent
- Elementary: Espanola
- Middle: Carlos F. Vigil Espanola Middle School
- High: Espanola Valley High
Source: SFARMLS. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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A local agent can set up tours, give advice and negotiate with sellers.
