Albuquerque Multifamily Investment
1200 Ortiz Drive SE Albuquerque, NM 87108
1200 Ortiz Drive SE, Albuquerque, NM, 87108
$3,965,358
For Sale
$3,965,358
MULTI_FAMILY - Albuquerque, NM
Property Size25,632 SF
Lot Size0.31 Acres
Price / SF$154.70
Days on Market2543
Property Features for 1200 Ortiz Drive SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 3
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, 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
- Active Solar, Solar (Heating)
Building Details
- Year built
- 1964
- Floors in Building
- 1
- Number of units
- 44
- Flooring type
- Vinyl, Carpet
- Building materials
- Block
Listing Agency
NM Apartment Advisors, Inc.
(505) 440-8633
524 Central Ave. SW Suite 801, Albuquerque, NM
Listed by
Todd D Clarke · License #13711
(505) 440-8633
Added: Aug 1, 2019 Checked: Jul 17 at 5:06 pm
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.
Investment Insights
Based on property information with market context.
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.
Key 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.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $415.2k | $16.20 |
| − Vacancy | −$21.6k | −$0.84 |
| EGI | $393.6k | $15.36 |
| − OpEx | −$177.1k | −$6.91 |
| NOI | $216.5k | $8.45 |
25,632 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.09M
$2.71M – $3.61M
NOI $216,505 @ 7.0% cap · market cap 5.46%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.20M
$5.43M – $7.23M
NOI $434,063 @ 7.0% cap · market cap 10.95%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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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.
