1307 Paseo del Pueblo Norte

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Address: 1307 Paseo Del Pueblo Norte, El Prado, NM 87529, USA
Created date: October 11, 2023
Date last updated: December 7, 2023

Taos portfolio – 38 units in 4 properties 7.33% cap rate

On behalf of the owners, Todd Clarke at NM Apartment Advisors and Michael Mulcahy of Cielo Grande Management are pleased to bring this apartment portfolio to market in the high end ski, arts, and cultural mecca of Taos NM. These properties are offered for the first time in over a generation and the owners are willing to consider individual sales or a portfolio sale.  The properties are offered with a fixed date for offers.


Each of the properties offers something amazing include:

V-122 Morada – 6 units adjacent to Kit Carson park – $525,000 – 8.28% cap rate

S – 111-113 Elidio – 9 units walking distance to the Plaza – $495,000 – 9.0% cap rate

W -1015-1021 Calle De Oro – 20 units near Wal-Mart – $1,520,000 – 8.04% cap rate

E- 1309A Paseo Del Pueblo Norte – 3 unit mixed use property with main street frontage – $373,000

The combined start price for the portfolio is based on a 2020 appraisal for the estate at $2,913,000


The owner has priced these deals under market comparable sales to ensure an expedited closing.


The 32 page flyer at http://www.nmapartment.com/apt/NMAA-calle1015Taos.pdf


Timeline of events for the BID process:

Both properties will be featured in a zoom meeting/overview on Tuesday November 7th, 2023 at noon.

  1. Qualified Investors can register for the zoom meeting and receive copies of inspections and appraisals for each property by registering at http://www.nmapartment.com/taosportfolio
    2. The offer deadline is noon on Thursday, November 9th,  Offers received prior to that date will not receive a response until after the offer deadline.  Offers received prior to that date with an expiration prior to Monday, November 13th, 2023, will not receive a response. Please do not ask what it would take to take the property off the market as the owner is dedicated to using the BID process and letting the market interest determine the final price.


Todd Clarke CCIM CIPs
NM Apartment Advisors Inc.
(505) 440-TODD




Michael Mulcahy

Qualifying Broker/Property Manager

Cielo Grande Management


[email protected]



Tax Savvy investors are taking benefit of the cost segregation + 2018 tax cuts & job act to garner amazing tax shelter on a Federal level.  Said benefit decreases from 100% to 80% on 1/1/2024. More at http://www.nmapartment.com/resources/00-NMAA-Tax2018ActandCostSegregationExample-v2-11032022

And zoom video presentation overview at http://www.nmapartment.com/cretaxbenefits

Key Property Information

Listing Status: Under Contract
Multifamily type: 2-4 Units
Price: $373,000
No. of Units: 3
Cap Rate: 5.87%
GRM /GIM: 11.51
Year Built: 1956
Building Size: 4,836 Sq ft
Lot Size: 0.97 Acres
No. of Stories: 2
APN: 1074150298475
Zoning Code: HC
Opportunity Zone: No
Price per unit: $124,333
Property Website Click Here
Address: 1307 Paseo Del Pueblo Norte, El Prado, NM 87529, USA

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent
Office 1 1779 1200
Storage 1 1780 816
3br/1ba 1 1277 800

Additional contacts

Full name Phone number Email address
Michael Mulcahy 575-770-8434 [email protected]

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