Three-Unit
For Sale
$496,084
1607 5th Street, Santa Fe, NM 87505
ResidentialIncome, Santa Fe, NM
Property Size1,740 SF
Lot Size0.11 Acres
Price / SF$285.11
Days on Market171
Property Features for 1607 5th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R-1, 2, 3, 4, 5, 6
Bedrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 2, Bedroom 1
Interior features
NoInteriorSteps
Appliances
Refrigerator
Elementary school
Aspen Community Magnet School K-8
Middle school
Aspen Community Magnet School K-8
High school
Santa Fe
Directions
From I-25 and St. Michael's north to 5th street, north on 5th to the property (between Cerrillos and St. Michales)
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, S34 T17N R9E
Legal Description
LOT 29, BLK 53, CAPITAL LAND & TOWNSITE CO ADDN, S34 T17N R9E
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Year built
1980
Floors in Building
1
Number of units
3
Roof type
Flat
Architectural style
Other
Listing Agency:
Maestas Real Estate
Listed By:
Anita Maestas · License #16029
(505) 463-3565
Added: May 6
Changed: Oct 20
Last Checked: Oct 23 at 7:06AM
MLS# 202601933
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.
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Investment Insights
Based on property information with market context.
This triplex contains three one-bedroom, one-bath residences totaling approximately 1,740 square feet on a 0.11-acre parcel. Built in 1980, the property includes refrigerators, no-interior-step access, a flat roof, and public water and sewer service. The units are subject to R-1, 2, 3, 4, 5, and 6 zoning designations as provided.
Located at 1607 5th Street in Santa Fe, the property is described as minutes from the Midtown District redevelopment. That mixed-use project is expected to add housing, employment centers, creative office space, parks, and cultural uses. Reported investment metrics include a 10.83 GRM, a 5.89% before-reserves cap rate, and a 12.9% after-tax IRR.
Located at 1607 5th Street in Santa Fe, the property is described as minutes from the Midtown District redevelopment. That mixed-use project is expected to add housing, employment centers, creative office space, parks, and cultural uses. Reported investment metrics include a 10.83 GRM, a 5.89% before-reserves cap rate, and a 12.9% after-tax IRR.
Key Highlights
- Three one‑bedroom, one‑bath units
- Approximately 1,740 square feet on a 0.11‑acre parcel
- Built in 1980 with refrigerators in the units
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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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,746
Businesses Nearby
Explore this area
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three one-bedroom, one-bath units feature public water and sewer service within a 1980 multifamily property.
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; Approximately 1,740 square feet on a 0.11‑acre parcel; Built in 1980 with refrigerators in the units
