Triplex with Mini-Split
124 Turquoise Trail Santa Fe, NM 87508
For Sale
$465,000
MULTI_FAMILY - Other - Santa Fe, NM
Property Size2,125 SF
Lot Size5.05 Acres
Price / SF$218.82
Days on Market102
Property Features for 124 Turquoise Trail
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Zoning
- R-1, 2, 3, 4, 5, 6
- Bedrooms
- 4
- Rooms
- Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 4
- Parking features
- Carport
- Interior features
- NoInteriorSteps
- Standard status
- Active
- APN
- 960002442
- Size
- 2,125 SF
- Lot size
- 5.05 Acres
Taxes and HOA fees
- Tax Description
- T15N R 8E S23 & S24 5.057 AC LOT 2
Utilities
- Sewer type
- Septic Tank
- Heating system
- Ductless (Heating)
- Cooling system
- Ductless
- Water source
- Well, Private
Building Details
- Year built
- 2000
- Floors in Building
- 1
- Number of units
- 3
- Roof type
- Metal
- Architectural style
- Other
Listing Agency:
Coldwell Banker Legacy
(505) 898-2700
Listed By:
Tommy F. Trujillo · License #50943
(505) 469-2879
Added: Apr 14
Changed: Jul 17
Last Checked: Jul 24 at 6:06AM
MLS# 202600807
Copyright © 2026 Santa Fe Association of REALTORS®, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This charming triplex offers three separate apartments configured for flexible living and rental use. One unit is a spacious 2-bedroom, 1-bath layout, and the other two units each feature 1 bedroom and 1 bathroom. All three homes include open floor plans designed to maximize light and flow, along with kitchens with space for cooking and entertaining. Heating and cooling are handled by mini-split systems in every unit, providing individual comfort year-round. A carport provides convenient, covered parking for residents.
Set on 5.05 acres, the property provides room outdoors and a more private, rural feel. The home is located off Hwy 14, offering easy access to nearby amenities in the Santa Fe area. The zoning is listed as R-1, 2, 3, 4, 5, 6, which may be relevant for buyers evaluating permitted residential uses.
As a triplex, the property can fit a range of buyer scenarios, including multi-generational living, occupying one unit while renting the others, or operating it as a residential income asset. With dedicated climate control for each unit and a straightforward three-apartment layout, it’s a practical option for tenants and owners seeking separate living spaces on a sizable lot.
Set on 5.05 acres, the property provides room outdoors and a more private, rural feel. The home is located off Hwy 14, offering easy access to nearby amenities in the Santa Fe area. The zoning is listed as R-1, 2, 3, 4, 5, 6, which may be relevant for buyers evaluating permitted residential uses.
As a triplex, the property can fit a range of buyer scenarios, including multi-generational living, occupying one unit while renting the others, or operating it as a residential income asset. With dedicated climate control for each unit and a straightforward three-apartment layout, it’s a practical option for tenants and owners seeking separate living spaces on a sizable lot.
Key Highlights
- Triplex built in 2000 with 4 total bedrooms and 3 bathrooms
- Each unit has mini‑split (ductless) heating and cooling for personalized comfort
- Open floor plans across all three apartments with bright, sun‑filled living spaces
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $47.2k | $22.20 |
| − Vacancy | −$2.1k | −$1.00 |
| EGI | $45.1k | $21.20 |
| − OpEx | −$13.5k | −$6.36 |
| NOI | $31.5k | $14.84 |
2,125 SF · lease $22.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$450.5K
$394.2K – $525.6K
NOI $31,536 @ 7.0% cap · market cap 6.78%
Second Best
Apartment 5plus
$416.5K
$364.5K – $485.9K
NOI $29,156 @ 7.0% cap · market cap 6.27%
Theoretical Best
Office A
$577.0K
$504.9K – $673.2K
NOI $40,392 @ 7.0% cap · market cap 8.69%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Three-unit triplex on 5.05 acres with carport parking and mini-split heating and cooling in every unit.
Where is this triplex located?
The property is located at 124 Turquoise Trail Santa Fe, NM.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: Triplex built in 2000 with 4 total bedrooms and 3 bathrooms; Each unit has mini‑split (ductless) heating and cooling for personalized comfort; Open floor plans across all three apartments with bright, sun‑filled living spaces
