Four-Unit Residential Income
For Sale
$370,000
540 Ortiz Drive SE, Albuquerque, NM 87108
Two-bedroom residences have separate gas and electric meters, with some units vacant.
Property Size3,360 SF
Price / SF$110.12
Days on Market13
Property Features for 540 Ortiz Drive SE
General Information
Standard status
Active
Size
3,360 SF
Property subtype
Quadruplex
Property Condition
Severity
Repairs Needed
Evidence
need some TLC
Site & Location
Neighborhood
Ssp
Additional Details
Individually Metered Utilities
gas, electricity
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$3,424
Building Details
Building Size
3,360 SF
Year Built
1983
Listing Agency:
MORE Realty, Inc
Listed By:
Truc M Do · License #REC20240132
(505) 730-8499
Source:
Originsrealtygroup
Added: Oct 18
Changed: Oct 30
Last Checked: Oct 30 at 2:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MORE Realty, Inc
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Investment Insights
Based on property information with market context.
This four-unit residential income property contains 2-bedroom, 1-bathroom residences and was built in 1983. The building totals 3,360 square feet. Gas and electricity are individually metered for each unit, and some units are vacant and require work.
The property shares a courtyard with 538 Ortiz Drive SE. The seller prefers a joint sale with that property. UNM and Nob Hill are approximately 10 minutes away.
The property shares a courtyard with 538 Ortiz Drive SE. The seller prefers a joint sale with that property. UNM and Nob Hill are approximately 10 minutes away.
Key Highlights
- Four units with 2 bedrooms and 1 bathroom each
- 3,360‑square‑foot building, built in 1983
- Individually metered gas and electricity for each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,672
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,440
$613.4K
Cap Rate 7%
$438,171
$438.2K
Cap Rate 9%
$340,800
$340.8K
Market Conditions
NOI Build-Up for 3,360 SF
Gross rent
$46.4K $13.80/SF
− Vacancy
−$2.6K −$0.76/SF
EGI
$43.8K $13.04/SF
− OpEx
−$13.1K −$3.91/SF
NOI
$30.7K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$613,440
Cap Rate 7%
$438,171
Cap Rate 9%
$340,800
Alternative Uses
Best Use
Multifamily LT 5
$438.2K
$383.4K – $511.2K
NOI $30,672 @ 7.0% cap · market cap 8.29%
Second Best
Apartment 5plus
$405.4K
$354.8K – $473.0K
NOI $28,381 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$812.9K
$711.3K – $948.3K
NOI $56,900 @ 7.0% cap · market cap 15.38%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,255
Businesses Nearby
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Business Placement
Demographics for 87108, NM
36,773
Population
19,153
Households
1.9
Avg Household Size
39
Median Age
33%
College-Educated
85%
High-School Grad
5.9 sq mi
ZIP Area
6,233
Density / Sq Mi
$39,578
Median Household Income
$31,478
Median Earnings
$828
Median Rent
$227,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Two-bedroom residences have separate gas and electric meters, with some units vacant.
Where is this quadplex located?
The property is located at 540 Ortiz Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $370,000.
What are key features of this property?
This property features: Four units with 2 bedrooms and 1 bathroom each; 3,360‑square‑foot building, built in 1983; Individually metered gas and electricity for each unit
