Inside the old Agua Fria Village limits is the former Institute of Chinese Medicine property which was converted into a compound of residential rental units. This multi-family adobe unit was built in 1937 as 3 family residences then eventually became the Institute of Chinese Medicine property until its demise. It was later re-invented as 4 residences and 2 studios enveloping approx. 8,000 sq ft of heated living area. Today's configuration is the original 6,000 sq ft adobe building housing 3 units and a studio, a 600 sq ft wood frame stucco rental next door and a large wood framed studio of ~1,400 sq ft. The property is serviced by three septic systems and two 3 ac ft water wells all of which are in working order. Zoning for this corner of Agua Fria Village is "Commercial Neighborhood" which provides for a myriad of potential residential & commercial uses. Santa Fe County land use has the authority over any comprehensive development plans. La Junta del Alamo's convenient location is very close to downtown, shopping, restaurants & malls. This historic location is being marketed below a recent appraisal so deserves a good look as an attractive investment.