12-Unit Apartment Property with
808 Ortiz Drive SE, Albuquerque, NM 87108
For Sale
$1,424,506
Residential Income, Albuquerque, NM
Property Size9,650 SF
Lot Size0.46 Acres
Price / SF$147.62
Days on Market96
Property Features for 808 Ortiz Drive SE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Individually Metered Utilities
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
updated detached storage closets
appliances including dishwasher
full size washer/dryer
private outdoor living spaces
secured access courtyards
landscaped outdoor space
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License NM #13711
(505) 440-8633
Added: Aug 10
Changed: Nov 12
Last Checked: Nov 13 at 4:06AM
MLS# 1108861
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 12-unit apartment property comprises two-story residences totaling 9,650 square feet on 0.46 acres. Floor plans include two-bedroom, one-bath layouts and three-bedroom, one-and-a-half-bath layouts. Apartments have galley kitchens with appliances, separate laundry rooms with full-size washers and dryers, and private outdoor areas. Gas and electric are separately metered, and detached storage closets have been updated. Many residences have received renovations that include new appliances, flooring, fixtures, and finishes. The property was built in 1972 and is zoned R-ML*.
Secured courtyards provide landscaped outdoor space. The property has access to parks, shopping, Nob Hill, I-40, Kirtland Air Force Base, and the Albuquerque Community Services Headquarters.
Secured courtyards provide landscaped outdoor space. The property has access to parks, shopping, Nob Hill, I-40, Kirtland Air Force Base, and the Albuquerque Community Services Headquarters.
Key Highlights
- 12 apartments across 9,650 square feet on 0.46 acres
- Two‑story residential buildings with secured, landscaped courtyards
- Separate gas and electric meters; private outdoor areas and detached storage closets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,510
Cap Rate
5.72%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,630,200
$1.6M
Cap Rate 7%
$1,164,429
$1.2M
Cap Rate 9%
$905,667
$905.7K
Market Conditions
NOI Build-Up for 9,650 SF
Gross rent
$156.3K $16.20/SF
− Vacancy
−$8.1K −$0.84/SF
EGI
$148.2K $15.36/SF
− OpEx
−$66.7K −$6.91/SF
NOI
$81.5K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,630,200
Cap Rate 7%
$1,164,429
Cap Rate 9%
$905,667
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.02M – $1.36M
NOI $81,510 @ 7.0% cap · market cap 5.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.33M
$2.04M – $2.72M
NOI $163,417 @ 7.0% cap · market cap 11.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Lease Details
12
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
954
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
$227,600
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Albuquerque, NM
Properties on Market for Apartment buildings in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Secured resident courtyards complement separately metered utilities and private outdoor spaces.
Where is this apartment building located?
The property is located at 808 Ortiz Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $1,424,506.
What are key features of this property?
This property features: 12 apartments across 9,650 square feet on 0.46 acres; Two‑story residential buildings with secured, landscaped courtyards; Separate gas and electric meters; private outdoor areas and detached storage closets
