New Mexico

Encantada Apartments | Los Lunas, NM

Loan Amount: $615,000

Developer: Chelsea Investment Corp

The Encantada Apartments is a 48-unit affordable multifamily housing project, with all units restricted to tenants earning no more than 60% of AMI, featuring acquisition and rehabilitation of one- and two-bedroom units. The property targets low-income households, with 42 units (87.5%) subsidized through USDA Rural Development Rental Assistance to ensure affordability. Amenities include a laundry room, community patio, and recreation area.

Units: 48