About This Property
Owner financing: $99 down plus a $195 document fee. Financed price $9,975. Term options: 1 year at 0% ($823/mo); 2 years at 9% ($451.18/mo); 3 years at 9% ($314.05/mo); 5 years at 9% ($205.01/mo); 7 years at 9% ($158.90/mo). Pay-in-full price: $8,977 (10% cash discount). Per the seller, no business or commercial use is allowed while the property is under a loan contract. Property Overview This is virtually unrestricted land for sale in New Mexico. Rio Grande Estates is a mostly undeveloped subdivision in Socorro County. Lot 38 was originally platted as a commercial property. And being conveniently located close to the highway, this could be a great spot for your business. However you are not limited to commercial uses. You can RV or camp on your property indefinitely while you hold it for investment. Or you can build your dream homestead. There are no subdivision restrictions, you just have county and state regulations. Electricity is available, power is just one lot away. For detailed information please contact the electric utility PNM. For water you can contact a well driller to see if that is a good choice for you, or use haulage. You will have great mountain views. There are no Property Owners Association or Home Owners Association. Property Description and Access Lot 38 is a large, approximately 0.63 acre property. It is less than a quarter of a mile from Highway 60. Highway 304 is only 3 miles away; Interstate Highway 25 is 6 miles away; Highway 47 is just over 11 miles away. Lot 38 is along Escobar Street, which comes directly off of Highway 60. Driving Directions From Los Lunas, New Mexico. Drive south on Interstate Highway 25 for 28.2 miles. Take Exit 175 for US-60 E toward Bernardo / Mountainair. 0.1 mile later continue onto US-60 E. 6.4 miles later turn right onto Escobar St. 0.2 mile later you will be at Lot 38.
Location
Rio Grande Estates - Socorro, Unit 15, Block 1011, Lot 38, Socorro County, NM
Outline shown is about 0.6 acres. Approximate boundaries from GIS or the seller, not a survey. Get a survey before you build or fence.
Owner Finance Terms
Owner finance agreements are subject to state and local laws. Always consult a licensed real estate attorney in NM before signing any agreement.
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