You start hiking Piedra Lisa Trail. The trailhead is reached from FR 333, and you park at Piedra Lisa Trailhead. From a parking lot walk north about a quarter of a mile on the dirt road to reach a turn-of to Piedra Lisa Trail. The trail goes up a short slope, then drops down into a canyon after a short distance. At the bottom of this canyon is the intersection of Piedra Lisa trail with Fletcher Trail, and Waterfall Canyon.
There is 1 really nice waterfall, about 20 meter long, and 1 waterfall with thinner ice and pretty good mixed climbing. I know, nothing much, but still amazing to have something like this available so far south (Albuquerque has a latitude of 35, and so close to the city). I climbed the waterfall 4 or 5 times, and it does make a really nice 1/2 day outing!