1200 Ortiz Drive SE Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
Property size:
25,632 SFLot size:
0.31 AcresPrice / SF:
$154/SF- Added:
- Aug 1, 2019
- Days on Market:
- 2473
- Last Refresh:
- May 8 at 7:06 am
Property Features for 1200 Ortiz Drive SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bathroom 2, Bedroom 3, Bedroom 2, Bedroom 1, Bathroom 1
- Parking
- 47
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 101805604219331411
- Size
- 25,632 SF
- Lot size
- 0.31 Acres
Taxes and HOA fees
- Tax Description
- Lot A, Block 2 & Lot A & B, Block 10, Virginia Place Addition
- Tax Annual Amount
- 3774
Utilities
- Heating system
- Solar (Heating), Active Solar
Building Details
- Year built
- 1964
- Floors in Building
- 1
- Number of units
- 44
- Flooring type
- Vinyl, Carpet
- Building materials
- Block
Listing agent Todd D Clarke License #13711 (505) 440-8633
Listing office NM Apartment Advisors, Inc. 524 Central Ave. SW Suite 801, Albuquerque, NM (505) 440-8633
Listing date Aug 1, 2019
MLS# 1092641
Listing URL
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Strong investment potential with a 6.65% cap rate based on current rents, increasing to 8.65% with market rent adjustments.
- Updated apartments featuring contemporary finishes and luxury vinyl plank flooring.
- Secured access and courtyard entry for enhanced safety and privacy.
- Ample off‑street parking with 47 spaces including 2 carport spaces.
- Proximity to new development, including the City of Albuquerque Community Services Headquarter.
- Includes Refrigerator appliance.
Overview
Albuquerque Multifamily Investment Opportunity
This multifamily property in Albuquerque, New Mexico, presents an investment opportunity. The property consists of updated apartments, many featuring contemporary finishes and luxury vinyl plank flooring. Secured access and a courtyard entry serve all buildings and apartments. There are 47 off-street parking spaces, including 2 carport spaces. The property has a lot size of 0.31 acres and a building size of 25,632 square feet. The surrounding area is experiencing new development, including the recently opened City of Albuquerque Community Services Headquarters directly west of the property. Investment performance at the asking price of $3,965,358 and the current average rent of $745 includes a GRM of 10.08, a 6.65% cap rate, a cash-on-cash return of 6.42%, a per-unit cost of $90,122, and a price per square foot of $154. Raising rents to market rates of $1,002 would increase investment performance to a GRM of 7.50 and an 8.65% cap rate. Numerous property upgrades have been completed.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Sandoval
- State
- New Mexico
- Longitude
- -106.58498
- Latitude
- 35.063563
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Updated apartments with development potential in Albuquerque, New Mexico.
Where is this apartment building located?
The property is located at 1200 Ortiz Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $3,965,358.
What are key features of this property?
This property features: Strong investment potential with a 6.65% cap rate based on current rents, increasing to 8.65% with market rent adjustments.; Updated apartments featuring contemporary finishes and luxury vinyl plank flooring.; Secured access and courtyard entry for enhanced safety and privacy.
