304 Kit Carson Rd, Taos, NM 87571

304 Kit Carson Road is a 4-unit apartment property located approximately 0.4 mile east of Taos Plaza. The location is one of its best attributes: it is an easy walk to the Taos Central Business District, with convenient access to retail shops, restaurants, supermarket, bank, laundry, dry cleaners, etc. There are two studio units side-by-side at ground level. One of these has a fairly large fenced yard. There are two one-bedroom units in a separate two-story building (one unit downstairs, one upstairs). These two units share a side yard. See Associated Docs for unit square footages. The apartments are on Town water and sewer service. They have wall heaters fueled by natural gas. The lot is 0.22 acre, and is fully fenced. Large trees provide some “greenness” in the semi-urban setting. There is off-street parking. The Taos market has an acute shortage of affordable units available for long-term rental. Demand way exceeds supply. As a result, rents have been rising. At 304 Kit Carson Road, current rents are probably below market. Although rents have been increased gradually over the past several years, management has been reluctant to raise rents too steeply, which would cause hardships on tenants, and would probably result in more tenant turnover. The tenants have been good, and turnover has been moderate; therefore, management has deemed it preferable to try to keep tenants. One of the owners is a licensed NM real estate broker.