3226 Rufina, Santa Fe, NM 87507
Santa Fe County
Key Facts
Description
Excited to see this Apartment community come to market in the high-end tourism, 400 year old capital, high alpine skiing, arts, and cultural mecca of Santa Fe, NM. If you love Meow Wolf, this property is located a few hundred feet south at 3226 Rufina. The economic engine of Meow Wolf makes this an ideal asset to acquire under the rising tide raises all ships theory. The property contains a total of 23 units in 2 buildings built in the 1980s, with a small parcel of land for potential additional uses. Historically a high barrier to entry market for new construction, the area has been identified as being short some 6,484 housing units. The community has partnered to bring more multifamily units on line than the Albuquerque area, but it’s not enough to satiate the resident demand. This has translated to high rent growth and the new construction is establishing a new ceiling on market rents ranging from $2,505 to $6,446 per month (you read that correct – there are a half dozen communities that the high end of their rent is between $2,505 to $6,446 per month!) This high barrier to entry market has some of the most expensive single-family housing in the country with an average price over $700,000. The community contains a range of units from small one bedrooms, averaging 432 sf to larger two bedroom units at 620sf. The lower floor units have a secure, double loaded corridor and the ground floor and upstairs units have their own private entrances. The property contains a common laundry room. The owner has furnished a couple of the smaller units to appeal to the traveling nurses/professional market. If you want to pay all cash, or obtain a new loan, the price is $3,041,153 – a 6.37% cap rate at the current average rents of $1,117, the measure of investment performance include a price per unit of $132,220, a price per square foot of $265.83 a GRM of 9.86 and a cap rate of 6.37%. If the rents are raised to market averages of $1,401, measure of investment performance improve to 7.86, and a cap rate of 7.45% Do not miss out on this opportunity to invest in one of America’s most sought-after markets and receive a rare positive cash flow.
Property Information
Property Type
Residential Income
Sub-Type
Apartment
Style
MultiLevel
Year Built
1984
Living Area
11,440 sq ft
Lot Size
0.88 acres
Zoning
R-1, 2, 3, 4, 5, 6
Days on Market
322
MLS® Listing#
202502719
Property Features
Cooling
Heating
Construction
Roof
Sewer
Water Source
Schools
- Elementary:
- Ramirez Thomas
- Middle:
- Ortiz
- High:
- Santa Fe
Financial Details
HOA
None
Parcel Number
016010324
Affordability Calculator
$608,211
Estimated monthly payment
$16,186/mo
Principal $2,432,842 · Est. interest $3,394,032 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Santa Fe, NM
- $736,932
- Median Listing Price
- 77
- Median Days on Market
- 2,260
- Median Sq Ft
- $377
- Median Price / Sq Ft
- 947
- Active Listings
- This home’s price is 313% above the area median.
- Its price per sq ft is 29% below the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Santa Fe, NM.
Location
Points of Interest in Santa Fe, NM
Showing the Santa Fe area map.
Nearby Schools
Agua Fria Elementary School
Elementary · 0.5 mi away
Kearny Elementary
Elementary · 0.8 mi away
Nava Elementary School
Secondary · 1.1 mi away
Salazar Elementary
Elementary · 1.4 mi away
Harvest Baptist Church
Elementary · 1.5 mi away
Pinon Elementary School
Elementary · 1.5 mi away
De Vargas Middle
Elementary · 1.6 mi away
Santa Fe High School
Secondary · 1.6 mi away
New Mexico Connections Academy
School · 1.7 mi away
Growing Up Montessori School
Elementary · 1.8 mi away
Early College Opportunities School
Secondary School · 1.9 mi away
Chaparral Elementary School
Elementary · 2.0 mi away
Ramirez Thomas Elementary School
Elementary · 2.0 mi away
Santa Fe Public School
School · 2.0 mi away
Santa Fe Indian School
Secondary · 2.0 mi away
Santa Fe Christian Academy
School · 2.0 mi away
Monte del Sol Charter School
Secondary · 2.1 mi away
Larragoite Elementary School
Elementary · 2.2 mi away
Mandela International Magnet School - Pta
Secondary · 2.2 mi away
Sweeney Elementary School
Elementary · 2.3 mi away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 6 Overlook Road, Santa Fe, NM | $2,145,000 | 4 | 5 | 6,975 |
| 10 Via Pampa, Santa Fe, NM | $2,150,000 | 4 | 4 | 2,776 |
| 30 W Calle Ventoso, Santa Fe, NM | $2,160,000 | 3 | 3 | 3,200 |
| 25 Calle Milpa, Santa Fe, NM | $2,180,000 | 5 | 5 | 4,223 |
| 1008 S Summit Ridge, Santa Fe, NM | $2,195,000 | 3 | 3 | 3,322 |
| 5091 Rail Runner Loop Rd, Santa Fe, NM | $2,198,000 | — | — | — |
Moving Cost Estimate
EXIT Agents in Santa Fe
Listing Courtesy: NM Apartment Advisors, Inc. - 5054408633