209 Chapelle StSanta Fe, NM 87501

Property Details for 209 Chapelle St

Year built

1953

Property size (Sq ft)

2,640 SF

Property type

Apartment buildings

Description

This exceptional 4-plex investment opportunity is located in the heart of downtown Santa Fe, boasting a prime location within the Business Capital District (BCD) zoning area. The property, built in 1953, comprises 2,640 square feet on a 5,000 square foot lot and features four individual units, each currently leased. The asking price is $975,000, translating to $243,750 per unit and $369.32 per square foot. Units B and C offer full bathrooms, while units A and D include 3/4 bathrooms. Units C and D have studio bedrooms. The property showcases hardwood floors and high ceilings, presenting a compelling opportunity for immediate income generation. Current rental income is substantial, with Unit 1 leased at $1,099, Unit 2 at $1,600, Unit 3 at $1,399, and Unit 4 at $1,254. The property's central location offers easy access to amenities and attractions, while on-street parking permits are available. The existing configuration allows for immediate income, while the potential for renovation and conversion into larger units presents significant upside potential for increased rental income. This property is easily shown and represents a rare opportunity to acquire a well-located, income-producing asset in the vibrant Santa Fe market. The address is 209 Chapelle St, Santa Fe, NM 87501.

Location Insight

City

Santa Fe

County

Santa Fe

State

New Mexico

Latitude

35.6903

Longitude

-105.942

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