Four-Unit Quadplex with
511 & 513 Alarid, Santa Fe, NM 87501
For Sale
$725,000
ResidentialIncome, Santa Fe, NM
Property Size2,554 SF
Lot Size0.14 Acres
Price / SF$283.87
Days on Market63
Property Features for 511 & 513 Alarid
General Information
Property type
Property subtype
Zoning
Zoning description
Bedrooms
Full bathrooms
Rooms
Parking features
Interior features
Appliances
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Description
Legal Description
Utilities
Sewer type
Water source
Amenities
interior courtyard
Building Details
Year built
Floors in Building
Number of units
Building materials
Roof type
Architectural style
Listing Agency:
Logic Real Estate
(505) 820-7000
Listed By:
Rachael L. Baca · License NM #44829
(505) 310-4929
Added: Sep 13
Changed: Nov 10
Last Checked: Nov 14 at 12:06AM
MLS# 202603994
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.
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Investment Insights
Based on property information with market context.
This R-7 property includes four separate residences across two lots, totaling 2,554 square feet on 0.14 acres. Each residence includes a bedroom, living room, kitchen, and bathroom. The 1940 improvements feature frame and stucco construction, flat roofing, no interior steps, and tandem parking served by two driveways. An interior courtyard provides shared outdoor space between the residences, while separate utility meters support individual occupancy. Appliances include ranges, ovens, refrigerators, washers, dryers, and water heaters.
The property is located at 511 & 513 Alarid in Santa Fe’s Historic Guadalupe District, near the Railyard, downtown Santa Fe, dining, shopping, and galleries. Public water and public sewer serve the site. The improvements will require complete restoration with skilled professional involvement.
The property is located at 511 & 513 Alarid in Santa Fe’s Historic Guadalupe District, near the Railyard, downtown Santa Fe, dining, shopping, and galleries. Public water and public sewer serve the site. The improvements will require complete restoration with skilled professional involvement.
Key Highlights
- Four separate residences totaling 2,554 square feet
- Two lots totaling 0.14 acres with R‑7 zoning
- 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.
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Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,211
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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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Two lots support separate residences with individual utility meters and off-street parking.
Where is this quadplex located?
The property is located at 511 & 513 Alarid 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 totaling 2,554 square feet; Two lots totaling 0.14 acres with R‑7 zoning; Each residence includes a bedroom, living room, kitchen, and bathroom
