Santa Fe Multifamily Investment
3226 Rufina Street Santa Fe, NM 87507
3226 Rufina Street, Santa Fe, NM, 87507
$3,041,053
For Sale
$3,041,053
MULTI_FAMILY - Santa Fe, NM
Property Size11,440 SF
Lot Size0.88 Acres
Price / SF$265.83
Days on Market77
Property Features for 3226 Rufina Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 3
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 016010324
- Size
- 11,440 SF
- Lot size
- 0.88 Acres
Taxes and HOA fees
- Tax Description
- Tract A, T17N, R9E, S33, Santa Fe County
- Tax Annual Amount
- 9703
Building Details
- Year built
- 1984
- Floors in Building
- 2
- Number of units
- 23
- 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 8 at 6:21 pm Checked: Jul 21 at 5:06 am
MLS# 1102980
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 multifamily property is located near Meow Wolf in Santa Fe, New Mexico. The community includes a variety of units, ranging from smaller one-bedroom units averaging 432 square feet to larger two-bedroom units at 620 square feet. Lower floor units feature a secure, double-loaded corridor, while ground floor and upstairs units have private entrances. A common laundry room is available for residents. The owner has furnished some of the smaller units to attract traveling nurses and professionals. The property has a price per unit of $132,220 and a price per square foot of $265.83. The gross rent multiplier (GRM) is 9.86, and the capitalization rate is 6.37%. The property is situated on a lot of 0.88 acres.
Key Highlights
- Year built 1984; frame and stucco construction with tile flooring
- Unit mix includes small one‑bedrooms averaging 432 SF and larger two‑bedroom units at 620 SF
- Lower floor units feature a secure, double loaded corridor; ground floor and upstairs units have private entrances
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 | $297.9k | $26.04 |
| − Vacancy | −$12.5k | −$1.09 |
| EGI | $285.4k | $24.95 |
| − OpEx | −$128.4k | −$11.23 |
| NOI | $157.0k | $13.72 |
11,440 SF · lease $26.04/SF/yr · vacancy 4.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.24M
$1.96M – $2.62M
NOI $156,962 @ 7.0% cap · market cap 5.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.11M
$2.72M – $3.62M
NOI $217,452 @ 7.0% cap · market cap 7.15%
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 - Multifamily property near Meow Wolf with diverse unit sizes.
Where is this apartment building located?
The property is located at 3226 Rufina Street Santa Fe, NM.
What is the asking price?
The asking price for this property is $3,041,053.
What are key features of this property?
This property features: Year built 1984; frame and stucco construction with tile flooring; Unit mix includes small one‑bedrooms averaging 432 SF and larger two‑bedroom units at 620 SF; Lower floor units feature a secure, double loaded corridor; ground floor and upstairs units have private entrances
