About This Property
Owner financing: $99 down plus a $195 document fee. Financed price $8,975. Term options: 1 year at 0% ($739.67/mo); 2 years at 9% ($405.50/mo); 5 years at 9% ($184.25/mo); 9 years at 9% ($120.21/mo). Pay-in-full price: $8,077 (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 5 is in a great about just over 2 miles north of Highway 60. It is easy to get to, and electricity is only 2 lots away. There are some nice homes scattered through the area. 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. You will have great mountain views. There are no Property Owners Association (POA) or Home Owners Association (HOA). Property Description and Access Lot 5 is a large, approximately 1 acre property. Highway 60 is conveniently near, Interstate Highway 25 and Highway 47 are also just a few minutes away. Lot 5 is on Alvarado Avenue, which comes off of Trevino Avenue. For electricity 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. 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 left onto Escobar St. 1.7 miles later turn left onto Reyes Avenue. 1 mile later turn right onto Alvarado St. 0.3 mile later you will be at Lot 5.
Location
Rio Grande Estates - Socorro, Unit 4, Block 177, Lot 5, Socorro County, NM
Outline shown is about 1 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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