An Investor's paradise! Finally, an absolute MUST-SEE North Side location with endless possibilities, no restrictions and water rights! This two-building, 1.56-acre property consists of an adorable 1,300 square foot casita with open concept 2-bedroom, 1 bathroom plus office/den floor plan. The second building is an exceptional 2,600 square foot multi-use space that began as a residence and then, over the years, was converted to a variety of businesses. This commercial building is a true adobe with stone entry floors, nichos, unique ceilings and a Kiva fireplace. You could lease/rent out both the residential casita, and the large building could be a cannabis shop, gallery, retail shop, wedding venue, bookstore, ADU or any other business venture; just a few ideas for a buyer to further research what the county zoning will allow. Imagine outdoor seating along the water feature with Taos Mountain direct views in the background, listening to a live band perform. Or, convert it back into another residence. This property has enough space for beautiful gardens/farming, has irrigation ditch water rights, is fully fenced, and gated. Live in the casita while making the rest of one's dreams come true. With easy access from State Highway 522, this property is easily seen, but sits far enough from the road for your privacy. There are also two ways to enter and exit the property. Anyone traveling to Red River from Taos, or from Taos to Red River, passes this property. The acreage allows for plenty of parking, and an abundance of space for the gardening enthusiast, or your heart's desire. There is also a lighted exterior sign facing the main street just waiting for the buyer's new business name. There are so many options and opportunities with this property for the next buyer. This is perfect for the person who can think outside of the box and is a great property for the right investor. Priced below market, with the right renovations, this property could easily surpass the $1 million mark for value. Roll-up your sleeves, bring your tools, and turn this into a magical and successful venture. So much opportunity abounds with renovations. Enjoy the tranquility and direct, breathtaking views of the Taos Mountains! Located just minutes from the Taos Plaza, shopping, the Gorge Bridge, Taos Ski Valley and more! Let your Dreams become a Reality with this one! A home inspection of both buildings was completed, and the sellers have completed all repairs. In addition, the villa/casita has been entirely painted inside, a new custom range and range hood, new carpeting, new wood stove, new gas heater in the dining room, new window coverings and updated electric. Seller has also installed new well pump and mechanicals, as it has its own well, including one of the nicest well houses in the Taos area, and a new gas meter in the second building. All updates and repairs have totaled over $80,000 in preparation for the new owners! Also, a new permitted leach field has been installed. Opportunities abound with this one! Seller financing options may be available for qualified buyers.