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Santa Fe Multifamily Investment Opportunity

3226 Rufina Street, Santa Fe, NM 87507

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For Sale

$3,041,053

MULTI_FAMILY - Santa Fe, NM

Property size:

11,440 SF

Lot size:

0.88 Acres

Price / SF:

$265/SF

HighLights

Year built 1984; frame and stucco construction with tile flooring
Unit mix includes small one‑bedrooms averaging 432 SF and larger two‑bedroom units at 620 SF
Lower floor units feature a secure, double loaded corridor; ground floor and upstairs units have private entrances
Common laundry room on‑site; refrigerator included as an appliance
Furnished a couple of the smaller units for the traveling nurses/professional market
Stated pricing and performance: $3,041,153, 6.37% cap rate; average rents $1,117; $132,220 per unit; $265.83/SF; 9.86 GRM

We can help!

Contact an agent

Todd D Clarke

For Sale

$3,041,053

MULTI_FAMILY - Santa Fe, NM

Property size:

11,440 SF

Lot size:

0.88 Acres

Price / SF:

$265/SF

Added:: May 6, 2026
Days on Market:: 63
Last Refresh:: Jul 7 at 3:06 am

Property Features for 3226 Rufina Street

General Information

Property type: Residential Multi Family
Property subtype: Other
Bedrooms: 3
Bathrooms: 2
Rooms: Bedroom 2, Bathroom 1, Bedroom 1, Bathroom 2, Bedroom 3
Appliances: Refrigerator
Standard status: Active
APN: 016010324
Size: 11,440 SF
Lot size: 0.88 Acres

Taxes and HOA fees

Tax Description: Tract A, T17N, R9E, S33, Santa Fe County
Tax Annual Amount: 9703

Building Details

Year built: 1984
Floors in Building: 2
Number of units: 23
Flooring type: Tile
Building materials: Frame, Stucco

We can help!

Contact an agent

Todd D Clarke

Listing agent Todd D Clarke License #13711

Listing office NM Apartment Advisors, Inc. 524 Central Ave. SW Suite 801, Albuquerque, NM

Listing date May 6, 2026

MLS# 1102980 Listing URL

HighLights

Year built 1984; frame and stucco construction with tile flooring
Unit mix includes small one‑bedrooms averaging 432 SF and larger two‑bedroom units at 620 SF
Lower floor units feature a secure, double loaded corridor; ground floor and upstairs units have private entrances
Common laundry room on‑site; refrigerator included as an appliance
Furnished a couple of the smaller units for the traveling nurses/professional market
Stated pricing and performance: $3,041,153, 6.37% cap rate; average rents $1,117; $132,220 per unit; $265.83/SF; 9.86 GRM

Overview

This multifamily property is located near Meow Wolf in Santa Fe, New Mexico. The community includes a variety of units, ranging from smaller one-bedroom units averaging 432 square feet to larger two-bedroom units at 620 square feet. Lower floor units feature a secure, double-loaded corridor, while ground floor and upstairs units have private entrances. A common laundry room is available for residents. The owner has furnished some of the smaller units to attract traveling nurses and professionals. The property has a price per unit of $132,220 and a price per square foot of $265.83. The gross rent multiplier (GRM) is 9.86, and the capitalization rate is 6.37%. The property is situated on a lot of 0.88 acres.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$297.9k	$26.04
− Vacancy	−$12.5k	−$1.09
EGI	$285.4k	$24.95
− OpEx	−$128.4k	−$11.23
NOI	$157.0k	$13.72

11,440 SF · lease $26.04/SF/yr · vacancy 4.20% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$2.24M

$1.96M – $2.62M (±1% cap)

NOI $156,962 @ 7.0% cap · market cap 5.16%

Second Best

—

no second resolved use

Theoretical Best

Office A

$3.11M

$2.72M – $3.62M (±1% cap)

NOI $217,452 @ 7.0% cap · market cap 7.15%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Santa Fe
County: Santa Fe
State: New Mexico
Longitude: -105.999983
Latitude: 35.653647

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For sale
Apartment buildings
NM
Santa Fe
87507
3226 Rufina Street

What type of property is this?

Apartment building - Multifamily property near Meow Wolf with diverse unit sizes.

Where is this apartment building located?

The property is located at 3226 Rufina Street Santa Fe, NM.

What is the asking price?

The asking price for this property is $3,041,053.

What are key features of this property?

This property features: Year built 1984; frame and stucco construction with tile flooring; Unit mix includes small one‑bedrooms averaging 432 SF and larger two‑bedroom units at 620 SF; Lower floor units feature a secure, double loaded corridor; ground floor and upstairs units have private entrances

3226 Rufina Street, Santa Fe, NM 87507

MULTI_FAMILY - Santa Fe, NM

Property Features for 3226 Rufina Street

General Information

Taxes and HOA fees

Building Details

We can help!

HighLights

Overview

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Live-Work Commercial Building

Turnkey Restaurant Space on Cerrillos Rd

Santa Fe Office/Research Facility

Medical Office Park at Hospital Campus

Class A Office Building

Five-Unit Retail Strip Mall

Modern Office Building For Sale

Downtown Office Building with Leased Restaurant

Freestanding Commercial Building on Cerrillos

Freestanding Office Building with Parking

Professional Office Building in Santa Fe

Live-Work Duplex with Detached Casita

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