4-Unit Residential Income
For Sale
$379,665
805 Ortiz Drive SE, Albuquerque, NM 87108
ResidentialIncome, Albuquerque, NM
Property Size2,574 SF
Lot Size0.19 Acres
Price / SF$147.50
Days on Market245
Property Features for 805 Ortiz Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
R-MH*
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 2, Bedroom 3, Bathroom 3, Bathroom 4, Bathroom 1, Bedroom 1, Bedroom 4, Bathroom 2
Interior features
CeilingFans
Exterior features
Landscaping
Appliances
FreeStandingGasRange, Refrigerator
Subdivision
Esperanza Add
Directions
From San Mateo East on Trumball, then south on Ortiz
Standard status
Active
APN
101805602338720909
Size
2,574 SF
Lot size
0.19 Acres
Taxes and HOA fees
Tax Annual Amount
2118
Utilities
Cooling system
Ceiling Fan(s)
Building Details
Year built
1945
Floors in Building
1
Number of units
4
Flooring type
Wood, Tile, Carpet
Building materials
Frame, Stucco
Listing Agency:
LPT Realty
(877) 366-2213
Listed By:
Casa ABQ
(505) 710-6918
Added: Feb 20
Changed: Oct 21
Last Checked: Oct 23 at 4:06AM
MLS# 1112836
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.
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Investment Insights
Based on property information with market context.
This 2,574-square-foot quadplex contains four units: three with one bedroom and one bath, plus a larger two-bedroom, one-bath unit. Updates in the three renovated residences include kitchen cabinetry and counters, bathroom surrounds and vanities, water heaters, wall heaters, and numerous windows. Hardwood flooring has been refinished, with fresh paint and updated lighting also noted. The remaining two-bedroom unit has not been renovated. The property was built in 1945 and occupies a 0.19-acre lot in Albuquerque, New Mexico.
Key Highlights
- Four units: three 1BR/1BA residences and one 2BR/1BA residence
- 2,574 square feet on a 0.19‑acre lot
- Renovated units feature new kitchen cabinets and countertops, updated bath surrounds and vanities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,497
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$469,940
$469.9K
Cap Rate 7%
$335,671
$335.7K
Cap Rate 9%
$261,078
$261.1K
Market Conditions
NOI Build-Up for 2,574 SF
Gross rent
$35.5K $13.80/SF
− Vacancy
−$2.0K −$0.76/SF
EGI
$33.6K $13.04/SF
− OpEx
−$10.1K −$3.91/SF
NOI
$23.5K $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%
$469,940
Cap Rate 7%
$335,671
Cap Rate 9%
$261,078
Alternative Uses
Best Use
Multifamily LT 5
$335.7K
$293.7K – $391.6K
NOI $23,497 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$310.6K
$271.8K – $362.4K
NOI $21,742 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$622.7K
$544.9K – $726.5K
NOI $43,589 @ 7.0% cap · market cap 11.48%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
967
Businesses Nearby
Explore this area
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 - Three renovated one-bedroom units are complemented by a larger two-bedroom residence.
Where is this quadplex located?
The property is located at 805 Ortiz Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $379,665.
What are key features of this property?
This property features: Four units: three 1BR/1BA residences and one 2BR/1BA residence; 2,574 square feet on a 0.19‑acre lot; Renovated units feature new kitchen cabinets and countertops, updated bath surrounds and vanities
