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    Three-Unit Triplex with Assigned Parking Title is generated by Realmo AI

    2702 2710 2712 Calle De Oriente Norte, Santa Fe, NM 87507

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    For Sale
    $675,000

    MULTI_FAMILY - Other - Santa Fe, NM

    Property size:
    3,064 SF
    Lot size:
    0.19 Acres
    Price / SF:
    $220/SF
    Added:
    Jun 2, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 5 at 12:06 am

    Property Features for 2702 2710 2712 Calle De Oriente Norte

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    PUD
    Bedrooms
    6
    Rooms
    Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 4, Bathroom 5, Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 6
    Interior features
    NoInteriorSteps
    Appliances
    Dryer, Dishwasher, GasCooktop, Disposal, GasWaterHeater, Oven, Range, Refrigerator, Washer
    Standard status
    Active
    APN
    099307059
    Size
    3,064 SF
    Lot size
    0.19 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Description
    LOT 1 & 2, BLK 3, CASAS CARLOS REY S/D, S33 T17N R9E
    Tax Annual Amount
    2329

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Water source
    Public

    Building Details

    Year built
    1987
    Floors in Building
    2
    Number of units
    3
    Building materials
    Frame, Stucco
    Architectural style
    Other

    We can help!

    Listing Contact
    Kurt Hill
    Kurt Hill

    Listing agent Kurt Hill License #9285

    Listing office Adobes & Dirt, LLC 610 Paseo Corto, Santa Fe, NM

    Listing date Jun 2, 2026

    MLS# 202602407 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

    • Triplex with 3 separately metered units on two city lots (PUD) sold together only
    • Unit 2702: 2BR/1BA with W/D, fireplace, and backyard (updated 4 years ago)
    • Units 2710 and 2712: both 2BR/2BA with W/D and fireplace; 2712 updated last year
    • Tenants pay their own utilities and each unit has assigned parking
    • Leases in place through May 2027 with long‑term tenants
    • Built in 1987; frame stucco construction with natural gas forced‑air heat; public water and public sewer

    Overview

    This for-sale triplex includes three separate units sold together on two city lots under a PUD designation. Unit 2702 has two bedrooms and one bath, with in-unit W/D, a fireplace, and a backyard; it was updated about four years ago. Unit 2710 offers two bedrooms and two baths, with W/D, a fireplace, and a backyard. Unit 2712 is upstairs with two bedrooms and two baths, and includes W/D; it was updated last year. All units are separately metered, and tenants pay their own utilities. Each unit also has assigned parking.

    The property is described as being in the heart of the City of Santa Fe, off Camino Carlos Rey, across from Franklin Miles Park. It is positioned near schools and shopping.

    For investors or owner-occupants seeking a three-unit income setup, the property has the operational advantage of separate utility metering and assigned parking per unit. The current leasing is noted as running through May 2027, and the listing describes a long-term tenant. The unit mix provides two 2-bedroom/2-bath options plus one 2-bedroom/1-bath configuration, all with in-unit laundry and fireplaces in the units that include them.

    Local Financial Insights For Multifamily LT 5

    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 $68.0k $22.20
    − Vacancy −$3.1k −$1.00
    EGI $65.0k $21.20
    − OpEx −$19.5k −$6.36
    NOI $45.5k $14.84
    3,064 SF · lease $22.20/SF/yr · vacancy 4.50% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $649.6K
    $568.4K – $757.9K (±1% cap)
    NOI $45,472 @ 7.0% cap · market cap 6.74%
    Second Best
    Apartment 5plus
    $600.6K
    $525.5K – $700.7K (±1% cap)
    NOI $42,040 @ 7.0% cap · market cap 6.23%
    Theoretical Best
    Office A
    $832.0K
    $728.0K – $970.7K (±1% cap)
    NOI $58,241 @ 7.0% cap · market cap 8.63%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

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

    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
    -105.985117
    Latitude
    35.6541582

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    FAQs

    What type of property is this?
    Triplex - Well-maintained triplex with individually metered utilities and in-unit laundry for each unit.
    Where is this triplex located?
    The property is located at 2702 2710 2712 Calle De Oriente Norte Santa Fe, NM.
    What is the asking price?
    The asking price for this property is $675,000.
    What are key features of this property?
    This property features: Triplex with 3 separately metered units on two city lots (PUD) sold together only; Unit 2702: 2BR/1BA with W/D, fireplace, and backyard (updated 4 years ago); Units 2710 and 2712: both 2BR/2BA with W/D and fireplace; 2712 updated last year
    (505) 660-4455
    We can help!
    Listing Contact
    Kurt Hill
    Kurt Hill
    Real Estate License ID: 9285
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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.

    More about this property
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    2702, 2710, 2712 Calle De Oriente Norte, Santa Fe, NM 87507
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