1607 5th Street
Property Description
Just minutes away is the transformative Midtown District redevelopment, a major mixed-use project expected to bring new housing, employment centers, creative office space, parks, and cultural uses to the heart of Santa Fe. This continued investment enhances the long-term growth story for surrounding neighborhoods and increases the desirability of nearby housing.The property consists of three one-bedroom / one-bath units totaling approximately 1,740 square feet on a 0.11-acre parcel. Metrics of investment performance at the ask price of $496,084 and average rents of $1,270 include a GRM of 10.83, a before-reserves cap rate of 5.89%, a price per sf of $285.11, a price per unit of $165,361 with an after-tax IRR of 12.9%.
Broker Details
NM Apartment Advisors Inc. 505-440-8633
MLS ID: clarkeda State License Number: 13711
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $496,084 |
| No. of Units: | 3 |
| Year Built: | 1980 |
| Lot Size: | 1,740.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $165,361 |
| Property Website | Click Here |
| Number of Bedrooms: | 3 |
| Number of Bathrooms: | 3 |
ID: 3yd-GAARNM-1102974
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