Santa Fe Triplex Investment
1607 5th Street Santa Fe, NM 87505
1607 5th Street, Santa Fe, NM, 87505
$496,084
For Sale
$496,084
MULTI_FAMILY - Other - Santa Fe, NM
Property Size1,740 SF
Lot Size0.11 Acres
Price / SF$285.11
Days on Market73
Property Features for 1607 5th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Zoning
- R-1, 2, 3, 4, 5, 6
- Bedrooms
- 3
- Rooms
- Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 2, Bedroom 2, Bathroom 3
- Interior features
- NoInteriorSteps
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 010856576
- Size
- 1,740 SF
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Description
- LOT 29, BLK 53, CAPITAL LAND & TOWNSITE CO ADDN, S34 T17N R9E
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1980
- Floors in Building
- 1
- Number of units
- 3
- Roof type
- Flat
- Architectural style
- Other
Listing Agency
Maestas Real Estate
(505) 463-3565
1660 Rio Rancho Dr. SE Suite B, Rio Rancho, NM
Listed by
Anita Maestas · License #16029
(505) 463-3565
Added: May 6 Checked: Jul 17 at 9:06 pm
MLS# 202601933
Listing URL
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 multifamily property in Santa Fe, New Mexico, consists of a triplex with three one-bedroom, one-bath units. The total area of the property is approximately 1,740 square feet, situated on a 0.11-acre parcel. The property is located minutes away from the upcoming Midtown District redevelopment, a mixed-use project that is expected to bring new housing, employment centers, creative office space, parks, and cultural uses to Santa Fe. This development is anticipated to enhance the desirability of nearby housing. The zoning is R-1, 2, 3, 4, 5, 6. Investment performance metrics at the asking price of $496,084 and average rents of $1,270 include a GRM of 10.83, a before-reserves cap rate of 5.89%, a price per square foot of $285.11, and a price per unit of $165,361, with an after-tax IRR of 12.9%.
Key Highlights
- Three 1‑bedroom, 1‑bath units totaling approx. 1,740 SF on a 0.11‑acre parcel
- Investment metrics reported at $496,084: GRM of 10.83 and before‑reserves cap rate of 5.89%
- Average rents reported at $1,270, with price per SF of $285.11 and price per unit of $165,361
Local 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 | $38.6k | $22.20 |
| − Vacancy | −$1.7k | −$1.00 |
| EGI | $36.9k | $21.20 |
| − OpEx | −$11.1k | −$6.36 |
| NOI | $25.8k | $14.84 |
1,740 SF · lease $22.20/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$368.9K
$322.8K – $430.4K
NOI $25,823 @ 7.0% cap · market cap 5.21%
Second Best
Apartment 5plus
$341.1K
$298.4K – $397.9K
NOI $23,874 @ 7.0% cap · market cap 4.81%
Theoretical Best
Office A
$472.5K
$413.4K – $551.2K
NOI $33,074 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three units near Midtown District redevelopment in Santa Fe.
Where is this triplex located?
The property is located at 1607 5th Street Santa Fe, NM.
What is the asking price?
The asking price for this property is $496,084.
What are key features of this property?
This property features: Three 1‑bedroom, 1‑bath units totaling approx. 1,740 SF on a 0.11‑acre parcel; Investment metrics reported at $496,084: GRM of 10.83 and before‑reserves cap rate of 5.89%; Average rents reported at $1,270, with price per SF of $285.11 and price per unit of $165,361
