Quadplex With Three Vacant
For Sale
$895,000
321 Tesuque Dr, Santa Fe, NM 87505
Three apartments are available for leasing, and three of the four units can be shown by appointment.
Property Size2,752 SF
Price / SF$325.22
Days on Market98
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Property Features for 321 Tesuque Dr
General Information
Standard status
Active
Size
2,752 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
Too many updates and repairs to mention here
Additional Details
Multifamily Units
4
Building Details
Year Built
1948
Listing Agency:
Varela Real Estate, Inc.
(505) 982-2525
Listed By:
Brian Tercero
(505) 594-9586
Source:
Mrsantaferealestate
Added: Jul 10
Changed: Oct 15
Last Checked: Oct 14 at 11:08PM
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 four-unit multifamily property contains 2,752 square feet and was built in 1948. Three units are currently vacant and positioned for leasing, while access is available to tour three of the four apartments.
The property is located at 321 Tesuque Dr in Santa Fe, New Mexico. Its documented compliance with HUD requirements supports consideration of an FHA Multifamily loan. Rental history and completed updates are also identified in the property information.
The property is located at 321 Tesuque Dr in Santa Fe, New Mexico. Its documented compliance with HUD requirements supports consideration of an FHA Multifamily loan. Rental history and completed updates are also identified in the property information.
Key Highlights
- Four‑unit multifamily property with 2,752 SF
- Three units currently vacant and ready to lease
- Three of the four units available to show
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$40,842
Cap Rate
4.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$816,840
$816.8K
Cap Rate 7%
$583,457
$583.5K
Cap Rate 9%
$453,800
$453.8K
Market Conditions
NOI Build-Up for 2,752 SF
Gross rent
$61.1K $22.20/SF
− Vacancy
−$2.7K −$1.00/SF
EGI
$58.3K $21.20/SF
− OpEx
−$17.5K −$6.36/SF
NOI
$40.8K $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%
$816,840
Cap Rate 7%
$583,457
Cap Rate 9%
$453,800
Alternative Uses
Best Use
Multifamily LT 5
$583.5K
$510.5K – $680.7K
NOI $40,842 @ 7.0% cap · market cap 4.56%
Second Best
Apartment 5plus
$539.4K
$472.0K – $629.3K
NOI $37,759 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$747.3K
$653.9K – $871.8K
NOI $52,310 @ 7.0% cap · market cap 5.84%
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
1,680
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?
Quadplex - Three apartments are available for leasing, and three of the four units can be shown by appointment.
Where is this quadplex located?
The property is located at 321 Tesuque Dr Santa Fe, NM.
What is the asking price?
The asking price for this property is $895,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 2,752 SF; Three units currently vacant and ready to lease; Three of the four units available to show
