Four-Residence Quadplex with
511 & 513 Alarid #A/B A/B, Santa Fe, NM 87501
For Sale
$725,000
Two-lot property with separate utilities, two driveways, and four residences requiring complete restoration.
Property Size2,554 SF
Price / SF$283.87
Days on Market57
Property Features for 511 & 513 Alarid #A/B A/B
General Information
Standard status
Size
Property subtype
Property Condition
Severity
Evidence
Additional Details
Multifamily Units
Amenities
interior courtyard
Building Details
Year Built
Listing Agency:
Logic Real Estate
Listed By:
Rachael Baca · License NM #6080
(505) 310-4929
Source:
Lisaharris-realestate
Added: Sep 15
Changed: Nov 9
Last Checked: Nov 10 at 5:51AM
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 Logic Real Estate
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 2,554-square-foot quadplex, built in 1940, comprises four separate residences across two lots. Each residence includes a bedroom, living room, kitchen, and bathroom. Separate utility meters serve the homes, while two driveways provide off-street parking. An interior courtyard adds shared outdoor space between the residences.
The property is located in Santa Fe’s Historic Guadalupe District near the Railyard, with dining, shopping, galleries, and downtown Santa Fe nearby. The improvements require complete restoration and are suited to a buyer evaluating a multi-residence property with distinct living units and shared site features.
The property is located in Santa Fe’s Historic Guadalupe District near the Railyard, with dining, shopping, galleries, and downtown Santa Fe nearby. The improvements require complete restoration and are suited to a buyer evaluating a multi-residence property with distinct living units and shared site features.
Key Highlights
- Four separate residences across two lots
- 2,554 square feet; built in 1940
- Each residence includes a bedroom, living room, kitchen, and bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,903
Cap Rate
5.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$758,060
$758.1K
Cap Rate 7%
$541,471
$541.5K
Cap Rate 9%
$421,144
$421.1K
Market Conditions
NOI Build-Up for 2,554 SF
Gross rent
$56.7K $22.20/SF
− Vacancy
−$2.6K −$1.00/SF
EGI
$54.1K $21.20/SF
− OpEx
−$16.2K −$6.36/SF
NOI
$37.9K $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%
$758,060
Cap Rate 7%
$541,471
Cap Rate 9%
$421,144
Alternative Uses
Best Use
Multifamily LT 5
$541.5K
$473.8K – $631.7K
NOI $37,903 @ 7.0% cap · market cap 5.23%
Second Best
Apartment 5plus
$500.6K
$438.0K – $584.0K
NOI $35,042 @ 7.0% cap · market cap 4.83%
Theoretical Best
Office A
$693.5K
$606.8K – $809.1K
NOI $48,546 @ 7.0% cap · market cap 6.70%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
4
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
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-lot property with separate utilities, two driveways, and four residences requiring complete restoration.
Where is this quadplex located?
The property is located at 511 & 513 Alarid #A/B A/B Santa Fe, NM.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Four separate residences across two lots; 2,554 square feet; built in 1940; Each residence includes a bedroom, living room, kitchen, and bathroom
