1 Thru 16 Sams Court, La Luz, NM 88337 (MLS# 1092578)

1 Thru 16 Sams Court, La Luz, NM 88337

$1,300,000

Property Type: Residential Income Lot Size (sq. ft.): 150,718 Status: Active

Current Price: $1,300,000 List Date: 10/07/2025 Last Modified: 9/29/2026

Overview

Description

Incredible VALUE-ADD investment opportunity in the heart of La Luz, New Mexico! Situated on approximately 3.46 acres, this manufactured housing property consists of 29 platted spaces and offers significant potential for continued improvement and increased rental income. Located just minutes from Alamogordo, residents enjoy convenient access to shopping, schools, employment, and other amenities while maintaining the quieter setting of La Luz. With existing rental income, ongoing renovations, separately metered utilities, and additional value-add potential across the 29 platted spaces, this property presents an opportunity for an investor to continue the current improvement strategy and expand the property's income-producing potential. All these factors contribute to the pent up demad for these units. Rates have room to be increased based on area market. The property currently has 10 renovated homes that are 100% occupied and producing rental income. The seller has been systematica ... (Read more) Incredible VALUE-ADD investment opportunity in the heart of La Luz, New Mexico! Situated on approximately 3.46 acres, this manufactured housing property consists of 29 platted spaces and offers significant potential for continued improvement and increased rental income. Located just minutes from Alamogordo, residents enjoy convenient access to shopping, schools, employment, and other amenities while maintaining the quieter setting of La Luz. With existing rental income, ongoing renovations, separately metered utilities, and additional value-add potential across the 29 platted spaces, this property presents an opportunity for an investor to continue the current improvement strategy and expand the property's income-producing potential. All these factors contribute to the pent up demad for these units. Rates have room to be increased based on area market. The property currently has 10 renovated homes that are 100% occupied and producing rental income. The seller has been systematically improving the property, completing approximately one full home renovation every three months with a single contractor. Each rehabilitation averages approximately $15,000 and includes substantial improvements such as roofing, plumbing, HVAC, and other necessary upgrades. The property features separately metered electric and community water service, allowing for streamlined utility management. Some homes have also been converted to all-electric service, with the seller continuing this approach as additional homes are renovated. Although the property contains 29 platted spaces, current Assessor records and drawings reflect approximately 20-21 spaces due to several existing manufactured homes being positioned across original lot lines. This creates a unique opportunity for a future owner to evaluate the property's existing layout and potential long-term utilization. Current ownership reports approximately $1,200 annually in property taxes and approximately $1,200 annually for general liability insurance. Tenants handle their own trash disposal utilizing a public dump station located approximately one mile from the property, and the seller does not charge tenants separately for septic or trash service.

Listing Details MLS# 1092578

Location

Street #: Yes
Street Name: Thru 16 Sams
St Suffix: Court
County: Otero
City/Town Code: La Luz
State/Province: NM
Zip Code: 88337
MLS Area Major: 550 - Otero
Zone Atlas: NOZA

General Property Description

# of Units: 20
5+ Units: Yes
Property Sub-Type: Other - See Remarks
Lot Size Source: On-Line
Acres: 3.46
Lot SqFt: 150718
Directions: From Main St. Turn Left onto Section Rd. Then turn left onto Sams Place
Stories: Yes
Total # of Buildings: 20
Age: Select One
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: Yes
Flood Zone: X

Cooling

Centrally Ducted: No

Basement

Basement YN: No

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: 20
# of Bedrooms: 54
# Baths: 36
Approx. SqFt: 900
Actual Rent: 8429
Max Rent: 9000
Market Rent: 8500

Unit Summary

Total Units: 20
Average Unit Size: 900
Average Actual Rent: 8429
Annualized: 2022960
Total Actual Rent: 168580

Property Features

Build Description: Resale Amenities: No Landscaping; Owners Unit Appliances included: Dishwasher; Free-Standing Electric Range; Refrigerator Utilities: Community Water; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: See Remarks Green Energy Generation: None Electric Provider: Public Utility Owner Pays: Maintenance; No Utilities Tenant Pays: Some Utilities Parking: 2+Spaces Per Unit Rental Info: Call Listing Broker Finance Considered: Cash; Conventional Zoning: UCO

Listing Office: Berkshire Hathaway NM Prop

Last Updated: September - 29 - 2026

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