3-Unit Residential
1607 5th Street, Santa Fe, NM 87505
For Sale
$496,084
Residential Income, Santa Fe, NM
Property Size1,740 SF
Lot Size0.11 Acres
Price / SF$285.11
Days on Market189
Property Features for 1607 5th Street
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Parking
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License NM #13711
(505) 440-8633
Added: May 6
Changed: Nov 9
Last Checked: Nov 10 at 6:06PM
MLS# 1102974
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.
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Investment Insights
Based on property information with market context.
This Santa Fe triplex contains three one-bedroom, one-bath residences within 1,740 square feet. The property occupies a 0.11-acre parcel, carries R-2 zoning, and was built in 1980. Reported operating metrics include a 10.83 GRM and a 5.89% cap rate before reserves.
The property is a few minutes from the Midtown District redevelopment, a mixed-use project planned to include housing, employment space, creative offices, parks, and cultural uses.
The property is a few minutes from the Midtown District redevelopment, a mixed-use project planned to include housing, employment space, creative offices, parks, and cultural uses.
Key Highlights
- Three one‑bedroom, one‑bath units
- 1,740 square feet on a 0.11‑acre parcel
- R‑2 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,823
Cap Rate
5.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,460
$516.5K
Cap Rate 7%
$368,900
$368.9K
Cap Rate 9%
$286,922
$286.9K
Market Conditions
NOI Build-Up for 1,740 SF
Gross rent
$38.6K $22.20/SF
− Vacancy
−$1.7K −$1.00/SF
EGI
$36.9K $21.20/SF
− OpEx
−$11.1K −$6.36/SF
NOI
$25.8K $14.84/SF
Area
Santa Fe County, NM
Vacancy
4.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$516,460
Cap Rate 7%
$368,900
Cap Rate 9%
$286,922
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 authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,746
Businesses Nearby
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Business Placement
Demographics for 87505, NM
32,078
Population
18,733
Households
1.7
Avg Household Size
52
Median Age
54%
College-Educated
94%
High-School Grad
65.1 sq mi
ZIP Area
493
Density / Sq Mi
$75,912
Median Household Income
$41,169
Median Earnings
$1,348
Median Rent
$484,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Triplexes in Santa Fe, NM
Properties on Market for Triplexes in Santa Fe
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Each residence contains one bedroom and one bathroom, with R-2 zoning.
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 one‑bedroom, one‑bath units; 1,740 square feet on a 0.11‑acre parcel; R‑2 zoning
