305 Lagunitas Ln SW
305 Lagunitas Ln SW, Albuquerque, NM, 87105
ID 03e90d8b
Overview
Unique opportunity to acquire an established residential supportive housing facility in Albuquerque’s South Valley. Offered at $399,999, 305 Lagunitas Road SW consists of approximately 5,860 SF situated on 0.52± acres, with convenient access to I-25 and major Albuquerque corridors.The fixer upper property features 8 existing bedrooms with potential for 3 additional bedrooms, 6 bathrooms, a commercial-style kitchen with exhaust system, large central dining area, two spacious common living areas, multiple private administrative offices, and ADA-accessible interior and exterior improvements.The existing layout and improvements provide a strong opportunity for nonprofit organizations, supportive housing providers, behavioral health organizations, and other qualified residential housing operators seeking a facility already configured for communal residential living and supportive services.Zoning: A-1 (Rural Agricultural) with an SU / Special Use designation through Bernalillo County, based on available property records. Prospective purchasers should independently verify the zoning, Special Use approval, and applicability of any associated conditions for their intended use. Bernalillo County describes A-1 as its Rural Agricultural zoning classification. SELLER FINANCING AVAILABLE.Recorded Use Restrictions: The property is subject to recorded Restrictive Real Estate Covenants that require the property to be used for residential rental purposes serving qualifying low-income homeless persons with chronic mental illness and/or substance abuse issues. The covenants also contain household income qualifications, rent requirements, annual income certification requirements, Crime Free Multi-Housing requirements, and provisions relating to refinancing, transfers, and the City of Albuquerque.Prospective purchasers are encouraged to review the recorded covenants and conduct their own due diligence regarding zoning, permitted use, occupancy, regulatory requirements, and the suitability of the property for their intended operation.
