Santa Fe Multifamily Investment
3120 Jemez Road Santa Fe, NM 87507
3120 Jemez Road, Santa Fe, NM, 87507
$809,000
For Sale
$809,000
MULTI_FAMILY - Santa Fe, NM
Property Size3,436 SF
Lot Size0.27 Acres
Price / SF$235.45
Days on Market93
Property Features for 3120 Jemez Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R-1, 2, 3, 4, 5, 6
- Parking
- 5
- Standard status
- Active
- APN
- 54154720
- Size
- 3,436 SF
- Lot size
- 0.27 Acres
Taxes and HOA fees
- Tax Description
- Per title binder.
Utilities
- Sewer type
- Public Sewer
- Water source
- Public
Building Details
- Year built
- 1957
- Building materials
- Frame
- Roof type
- Metal
Listing Agency
Shepler Commercial, LLC
(505) 982-7600
301 N Guadalupe, Suite 205, Santa Fe, NM
Listed by
Damon Apodaca · License #48437
(505) 690-7943
Added: Apr 16 Checked: Jul 17 at 7:06 am
MLS# 202601516
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 is a fully occupied 5-plex located in Santa Fe, New Mexico. The property is leased to long-term tenants and situated in a quiet, easily accessible location. Mature landscaping surrounds the building, which includes a gravel driveway and five parking spots. The property features new, two-year-old propanal roofs. The lot size is 0.27 acres. The property size is 3436 square feet. The zoning is R-1, 2, 3, 4, 5, 6.
Key Highlights
- Fully occupied 5‑plex with long‑term tenants, offering an instant income stream
- New (2 year old) propanal roofs
- Quiet and easily accessible location
Local Financial Insights For Apartment 5plus
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 | $89.5k | $26.04 |
| − Vacancy | −$3.8k | −$1.09 |
| EGI | $85.7k | $24.95 |
| − OpEx | −$38.6k | −$11.23 |
| NOI | $47.1k | $13.72 |
3,436 SF · lease $26.04/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$673.5K
$589.3K – $785.7K
NOI $47,144 @ 7.0% cap · market cap 5.83%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$933.0K
$816.4K – $1.09M
NOI $65,311 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully occupied 5-plex with long-term tenants in Santa Fe.
Where is this apartment building located?
The property is located at 3120 Jemez Road Santa Fe, NM.
What is the asking price?
The asking price for this property is $809,000.
What are key features of this property?
This property features: Fully occupied 5‑plex with long‑term tenants, offering an instant income stream; New (2 year old) propanal roofs; Quiet and easily accessible location
