$3,041,053

3226 Rufina St Santa Fe, NM 87507

Estimated payment $19,243/month

Total Views 2,487
-- Bed
-- Bath
11,440 Sq Ft
$266 Price per Sq Ft

Highlights

  • No HOA
  • Refrigerated and Evaporative Cooling System
  • Heating Available

About This Home

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.If you want to pay all cash, or obtain a new loan, the price is $3,041,153 – a 5.85% cap rate at the current average rents of $1,042, the measure of investment performance include a price per unit of $132,224, a price per square foot of $265.84 a GRM of 10.58 and a cap rate of 5.85%. If the rents are raised to market averages of $1,401, measure of investment performance improve to 7.86, and a cap rate of 7.49%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.

Listing Agent

Todd Clarke

NM Apartment Advisors, Inc. License #13711 Listed on: 06/17/2025

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1984

Lot Details

  • 0.88 Acre Lot

Home Design

  • Split Level Home
  • Frame Construction
  • Built-Up Roof

Interior Spaces

  • 11,440 Sq Ft Home
  • Multi-Level Property

Schools

  • Ramirez Thomas Elementary School
  • Ortiz Middle School
  • Santa Fe High School

Utilities

  • Refrigerated and Evaporative Cooling System
  • Heating Available
  • Separate Meters

Community Details

  • No Home Owners Association
  • 23 Units

Listing and Financial Details

  • Assessor Parcel Number 016010324

Property Details

Home Type

Apartment

Year Built

Built in 1984

Lot Details

0

Listing Details

  • Property Sub Type: Apartment
  • Year Built: 1984
  • Prop. Type: Residential Income
  • Architectural Style: Multi-Level
  • Garage Yn: No
  • Property Sub Type Additional: Apartment
  • Special Features: None

Interior Features

  • Levels: Multi/Split
  • Accessibility Features: Not ADA Compliant
  • Basement YN: No
  • Fireplace: No
  • Interior Amenities: Interior Steps

Exterior Features

  • Roof: Built-Up
  • Construction Type: Frame

Utilities

  • Cooling: Evaporative Cooling
  • Utilities: Separate Meters
  • Heating: Electric
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public

Condo/Co-op/Association

  • Association: No

Schools

  • Elementary School: Ramirez Thomas
  • High School: Santa Fe
  • Middle Or Junior School: Ortiz

Lot Info

  • Lot Size Acres: 0.88
  • Zoning: R-1, 2, 3, 4, 5, 6
  • Lot Size Sq Ft: 38202.0
  • Parcel #: 016010324
  • Zoning Description: R-21

Multi Family

  • Number Of Units Total: 23

Map

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
09/05/2025 09/05/25 For Sale $3,041,153 0.0% $266 / Sq Ft
08/30/2025 08/30/25 Pending -- -- --
06/17/2025 06/17/25 For Sale $3,041,053 0.0% $266 / Sq Ft
06/17/2025 06/17/25 For Sale $3,041,153 -- $266 / Sq Ft
Source: Santa Fe Association of REALTORS®

Source: Santa Fe Association of REALTORS®

MLS Number: 202502719

Santa Fe Association of REALTORS®