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 - Santa Fe, NM
Property Size1,740 SF
Lot Size0.11 Acres
Price / SF$285.11
Days on Market77
Property Features for 1607 5th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 3
- Bathrooms
- 3
- Rooms
- Bedroom 1, Bathroom 3, Bathroom 2, Bathroom 1, Bedroom 3, Bedroom 2
- Parking
- 3
- 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
- Tax Annual Amount
- 3380
Building Details
- Year built
- 1980
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Tile
- Building materials
- Frame, Stucco
Listing Agency
NM Apartment Advisors, Inc.
(505) 440-8633
524 Central Ave. SW Suite 801, Albuquerque, NM
Listed by
Todd D Clarke · License #13711
(505) 440-8633
Added: May 6 Updated: Jul 18 at 3:51 am Checked: Jul 21 at 5:06 am
MLS# 1102974
Listing URL
Copyright © 2026 Southwest MLS. 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 triplex is located in Santa Fe, NM, and consists of three one-bedroom, one-bath units totaling approximately 1,740 square feet on a 0.11-acre parcel. The property is located minutes away from the transformative Midtown District redevelopment, a major mixed-use project expected to bring new housing, employment centers, creative office space, parks, and cultural uses to the heart of Santa Fe. This investment enhances the long-term growth story for surrounding neighborhoods and increases the desirability of nearby housing. Investment performance metrics at the 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 approximately 1,740 SF on a 0.11‑acre parcel
- Average rents of $1,270 and 10.83 GRM at the ask price of $496,084
- Before‑reserves cap rate of 5.89% and price per SF of $285.11
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
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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 approximately 1,740 SF on a 0.11‑acre parcel; Average rents of $1,270 and 10.83 GRM at the ask price of $496,084; Before‑reserves cap rate of 5.89% and price per SF of $285.11
