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3226 Rufina, Santa Fe, NM 87507

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For Sale

$3,041,053

3 beds • 2 baths • 11,440 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • $265.83
    Price per square foot

  • 41-50 Years Old
    Age

Explore this Property

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.
MLS# 202502719

Courtesy Of NM Apartment Advisors, Inc.

(505) 440-8633

Property Features

  • Age
    41-50 Years Old
  • Architecture Style
    Other
  • Lot Size
    0.88 Acres

Map and Directions

Directions to 3226 Rufina, Santa Fe, NM 87507

Home seller CENTURY 21 Camco Realty

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Camco Realty

(505) 292-2021
Learn More About Us

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Copyright © 2025 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. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.