Three-Unit Multifamily
For Sale
$750,000
600 San Francisco, Santa Fe, NM 87501
Freestanding main residence plus a two-unit building, with individual parking and in-unit laundry equipment.
Property Size1,872 SF
Price / SF$400.64
Days on Market15
Property Features for 600 San Francisco
General Information
Standard status
Active
Size
1,872 SF
Property subtype
Multi-Family
Units
Multifamily Units
3
Parking per Unit
1
Building Details
Year Built
1940
Buildings
2
Listing Agency:
Keller Williams Realty
(505) 375-2062
Listed By:
Brian Tercero
(505) 594-9586
Source:
Mrsantaferealestate
Added: Sep 12
Changed: Sep 24
Last Checked: Sep 26 at 6:59AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1,872-square-foot triplex, built in 1940, consists of a freestanding main unit and a separate building containing two additional units. The main residence includes a Kiva fireplace, wood flooring in the dining and living areas, and a washer and dryer. Both units in the second building have full bathrooms and LVP flooring; Unit A also includes a washer and dryer.
Parking is positioned between the buildings, with one space assigned to each unit. The property is located at 600 San Francisco in Santa Fe, placing the three-unit configuration within the downtown area.
Parking is positioned between the buildings, with one space assigned to each unit. The property is located at 600 San Francisco in Santa Fe, placing the three-unit configuration within the downtown area.
Key Highlights
- Three‑unit property totaling 1,872 square feet
- Built in 1940 with a freestanding main unit and separate two‑unit building
- Main unit features a Kiva fireplace and wood floors in dining and living areas
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$27,782
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,640
$555.6K
Cap Rate 7%
$396,886
$396.9K
Cap Rate 9%
$308,689
$308.7K
Market Conditions
NOI Build-Up for 1,872 SF
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.
Gross rent
$41.6K $22.20/SF
− Vacancy
−$1.9K −$1.00/SF
EGI
$39.7K $21.20/SF
− OpEx
−$11.9K −$6.36/SF
NOI
$27.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$555,640
Cap Rate 7%
$396,886
Cap Rate 9%
$308,689
Alternative Uses
Best Use
Multifamily LT 5
$396.9K
$347.3K – $463.0K
NOI $27,782 @ 7.0% cap · market cap 3.70%
Second Best
Apartment 5plus
$366.9K
$321.1K – $428.1K
NOI $25,685 @ 7.0% cap · market cap 3.42%
Theoretical Best
Office A
$508.3K
$444.8K – $593.1K
NOI $35,583 @ 7.0% cap · market cap 4.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
2,708
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Freestanding main residence plus a two-unit building, with individual parking and in-unit laundry equipment.
Where is this triplex located?
The property is located at 600 San Francisco Santa Fe, NM.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Three‑unit property totaling 1,872 square feet; Built in 1940 with a freestanding main unit and separate two‑unit building; Main unit features a Kiva fireplace and wood floors in dining and living areas
