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    Triplex and Duplex Income Package Title is generated by Realmo AI

    136 & 138 E Santa Fe Avenue, Santa Fe, NM 87505

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    New
    For Sale
    $1,350,000

    MULTI_FAMILY - Other - Santa Fe, NM

    Property size:
    3,506 SF
    Price / SF:
    $385/SF
    Added:
    Jun 3, 2026
    Days on Market:
    2
    Last Refresh:
    Jun 4 at 9:06 pm

    Property Features for 136 & 138 E Santa Fe Avenue

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Parking features
    Tandem
    Interior features
    InteriorSteps
    Appliances
    Dryer, GasCooktop, Oven, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    910016109, 910016110
    Size
    3,506 SF

    Taxes and HOA fees

    Tax Description
    See exhibit A and B. Title to verify.

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Water source
    Public

    Building Details

    Year built
    1930
    Floors in Building
    2
    Number of units
    5
    Roof type
    Flat
    Architectural style
    Other

    We can help!

    Listing Contact
    Ayden L. Gramm
    Ayden L. Gramm

    Listing agent Ayden L. Gramm License #53193

    Listing office Corcoran Plaza Properties 216 Washington Ave, Santa Fe, NM

    Listing date Jun 3, 2026

    MLS# 202602237 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.

    HighLights

    • Package sale includes two parcels that can close separately: 910016109 & 910016110
    • Two‑building multifamily in Santa Fe: one triplex plus one duplex totaling 5 units
    • Triplex unit mix: 2BD/1BA unit and two 1BD/1BA units
    • Shared laundry and shared storage spaces for the two buildings
    • Courtyard with mature trees
    • Utilities: public water and public sewer; natural gas heating; flat roof

    Overview

    This sale includes a triplex and a duplex across two parcels that must be sold as a package, though the parcels can be closed separately. In total, the property provides five residential units. The triplex configuration features one 2-bedroom, 1-bath unit and two 1-bedroom, 1-bath units. The accompanying duplex includes one 2-bedroom, 1-bath unit and one 1-bedroom, 1-bath unit. Both buildings share laundry and shared storage spaces, and the property includes a courtyard with mature trees.

    Located in the South Capitol neighborhood of Santa Fe, the buildings are positioned for residents and tenants who want to be close to local destinations. World-class restaurants, art galleries, and the historic plaza are described as minutes away.

    The layout supports multiple income strategies: an owner can occupy one unit while collecting rent from the remaining units, or rent all units for cash flow. With shared on-site laundry and storage plus an outdoor courtyard setting, the property also offers practical day-to-day convenience for tenants within a compact, multi-unit environment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Dental Office Real Estate Agency Spa & Massage Center Hair Salon Law Firm Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Fe
    County
    Santa Fe
    State
    New Mexico
    Longitude
    -105.9396634
    Latitude
    35.680119

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    FAQs

    What type of property is this?
    Duplex - Two buildings totaling five units offer flexible living or rental income in a sought-after Santa Fe location.
    Where is this duplex located?
    The property is located at 136 & 138 E Santa Fe Avenue Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Package sale includes two parcels that can close separately: 910016109 & 910016110; Two‑building multifamily in Santa Fe: one triplex plus one duplex totaling 5 units; Triplex unit mix: 2BD/1BA unit and two 1BD/1BA units
    (310) 467-7017
    We can help!
    Listing Contact
    Ayden L. Gramm
    Ayden L. Gramm
    Real Estate License ID: 53193
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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