1200 Ortiz Drive Se Albuquerque, NM 87108

44 Units
 Print
$3,965,358 Est. $14,601 / mo.*
Details Directions
 Print
Property Type: Multifamily
Status: Active
Year Built: 1964
Neighborhood: Virginia Place Addition
Days on Website: 9

Courtesy of NM Apartment Advisors, Inc..

Description

Measures of investment performance at ask price of $3,965,358 and current average rent of $745 are a GRM of 10.08, a 6.65% cap rate, cash on cash of 6.42%, $90,122 per unit, and $154/sf. If rents were raised to market rents of $1,002, measures of investment performance increase to a GRM of 7.50, and a 8.65% cap rate.Please note the numerous property upgrades listed in the flyer and pay special attention to all of the new development in the area, including the recently opened City of Albuquerque Community Services Headquarter directly west of the property.Most of the apartments have been updated with contemporary finishes & luxury vinyl plank flooring throughout. Secured access / courtyard entry to all buildings and apartments with 47 off street parking spaces (2 carport) ...

Open House

Property Details and Features

  • Description: Refrigerator
  • Total Bathrooms: 1
  • Area: 25632
  • Building Area: 25632
  • Construction Materials: Block
  • Levels: One
  • Year Built: 1964
  • Details: Other
  • Flooring: Carpet,Vinyl
  • Heating: ActiveSolar,Other,SeeRemarks
  • Days on Market: 3
  • Listing Price: 3965358
  • Status: Active
  • Address: 1200 Ortiz Drive SE
  • Area: 71 - Southeast Heights
  • City: Albuquerque
  • State: NM
  • Zip: 87108
  • County: Bernalillo
  • Subdivision: Virginia Place Addition
  • Directions: From I-25 and Gibson, east on Gibson past San Mateo, north on Ortiz to property.
  • Acres: 0.31
  • Size: 0
  • Size Source: Survey
  • Parking Total: 47
  • Utilities: CableConnected,ElectricityConnected,NaturalGasConnected

Location

$3,965,358 - 1200 Ortiz Drive Se, Albuquerque, NM 87108
1200 Ortiz Drive Se Albuquerque, NM 87108
Address: 1200 Ortiz Drive SE

Street View

Nearby Schools

Recent Sales in the Area

Similar Properties Nearby