1200 Ortiz Drive Se Albuquerque, NM 87108

44 Units
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$3,965,358 Est. $14,601 / mo.*
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: 15579
Property Type: Multifamily
Status: Active
Year Built: 1964
Neighborhood: Virginia Place Addition
Days on Website: 3

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

  • Refrigerator
  • 1 total bathroom
  • 1 total bedroom
  • Built in 1964
  • Living area: 25632.0
  • 8 buildings
  • 1 storey
  • Levels: One
  • Construction Materials: Block
  • LeadBasedPaintDisclosure
  • Ranm2100Disclosure
  • Energy Generation: Solar
  • Operating: $281,800
  • Carpet
  • Vinyl
  • ActiveSolar
  • SeeRemarks
  • Gross Income: $401,863
  • Listing ID: 1092641
  • Standard Status: Active
  • MLS Status: Active
  • Property Subtype: MultiFamily
  • On market as of 2025-10-08
  • 3 days on market
  • Subdivision: Virginia Place Addition
  • MLS Area (Major): 71 - Southeast Heights
  • County/Parish: Bernalillo
  • 0.31 acres
  • SeeRemarks
  • 47 total parking spaces
  • Resale
  • ComplexFenced
  • Additional parcels description:
  • Parcel Number: 101805604219331411
  • Annual Amount: $3,774.44
  • Legal Description: Lot A, Block 2 & Lot A & B, Block 10, Virginia Place Addition
  • Zoning description: R-MH*
  • SeeRemarks
  • CableConnected
  • ElectricityConnected
  • NaturalGasConnected
  • None

Location

$3,965,358 - 1200 Ortiz Drive Se, Albuquerque, NM 87108
1200 Ortiz Drive Se Albuquerque, NM 87108
Subdivision: Virginia Place Addition

Street View

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