Four-Unit Quadplex with TPO
For Sale
$1,560,000
224 Guadalupe, Santa Fe, NM 87501
Four detached residences share one parcel four blocks west of Santa Fe Plaza.
Property Size3,700 SF
Price / SF$421.62
Days on Market92
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Property Features for 224 Guadalupe
General Information
Standard status
Active
Size
3,700 SF
Property subtype
Multi-Family
Units
Unit Mix
1 x 3BR/2 half baths, 1 x 1BR/1BA, 2 x 2BR/1BA
Multifamily Units
4
Amenities
back yard
large open air patio
granite countertops
real oak hardwood floors
Building Details
Year Built
1955
Buildings
4
Listing Agency:
Varela Real Estate, Inc.
(505) 982-2525
Listed By:
Brian Tercero
(505) 594-9586
Source:
Mrsantaferealestate
Added: Jul 16
Changed: Oct 15
Last Checked: Oct 14 at 11:22PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Varela Real Estate, Inc.
Investment Insights
Based on property information with market context.
This quadplex comprises four detached residential units totaling approximately 3,700 square feet on a single parcel. Unit 1 has three bedrooms and two half baths. Unit 2 includes one bedroom, one full bath, and a backyard. Units 3 and 4 each offer two bedrooms and one full bath; Unit 3 also has a large open-air patio, while Unit 4 includes a backyard.
Property improvements include a new insulated TPO roof and a sewer line replaced in 2019. Three units feature granite countertops, real oak hardwood floors, and crawl spaces that provide plumbing access. Two units were updated in 2000. The property is located four blocks west of Santa Fe Plaza, and the building was constructed in 1955.
Property improvements include a new insulated TPO roof and a sewer line replaced in 2019. Three units feature granite countertops, real oak hardwood floors, and crawl spaces that provide plumbing access. Two units were updated in 2000. The property is located four blocks west of Santa Fe Plaza, and the building was constructed in 1955.
Key Highlights
- Four detached units on one parcel with approximately 3,700 square feet total
- Unit mix includes one 3‑bedroom unit, one 1‑bedroom unit, and two 2‑bedroom units
- New insulated TPO roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,911
Cap Rate
3.52%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,098,220
$1.1M
Cap Rate 7%
$784,443
$784.4K
Cap Rate 9%
$610,122
$610.1K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$82.1K $22.20/SF
− Vacancy
−$3.7K −$1.00/SF
EGI
$78.4K $21.20/SF
− OpEx
−$23.5K −$6.36/SF
NOI
$54.9K $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%
$1,098,220
Cap Rate 7%
$784,443
Cap Rate 9%
$610,122
Alternative Uses
Best Use
Multifamily LT 5
$784.4K
$686.4K – $915.2K
NOI $54,911 @ 7.0% cap · market cap 3.52%
Second Best
Apartment 5plus
$725.2K
$634.6K – $846.1K
NOI $50,766 @ 7.0% cap · market cap 3.25%
Theoretical Best
Office A
$1.00M
$879.1K – $1.17M
NOI $70,330 @ 7.0% cap · market cap 4.51%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4,310
Businesses Nearby
Explore this area
Business Placement
Demographics for 87501, NM
15,116
Population
10,480
Households
1.4
Avg Household Size
58
Median Age
61%
College-Educated
97%
High-School Grad
50.6 sq mi
ZIP Area
299
Density / Sq Mi
$81,229
Median Household Income
$52,851
Median Earnings
$1,516
Median Rent
$649,100
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?
Quadplex - Four detached residences share one parcel four blocks west of Santa Fe Plaza.
Where is this quadplex located?
The property is located at 224 Guadalupe Santa Fe, NM.
What is the asking price?
The asking price for this property is $1,560,000.
What are key features of this property?
This property features: Four detached units on one parcel with approximately 3,700 square feet total; Unit mix includes one 3‑bedroom unit, one 1‑bedroom unit, and two 2‑bedroom units; New insulated TPO roof
