Albuquerque Triplex with
816 Ortiz Drive SE Albuquerque, NM 87108
816 Ortiz Drive SE, Albuquerque, NM, 87108
$342,000
For Sale
$342,000
MULTI_FAMILY - Albuquerque, NM
Property Size2,470 SF
Lot Size0.16 Acres
Price / SF$138.46
Days on Market228
Property Features for 816 Ortiz Drive SE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 5, Bedroom 4, Bedroom 2, Bathroom 1, Bathroom 2, Bedroom 1, Bathroom 3, Bedroom 3
- Parking
- 2
- Accessibility
- Accessible Approach with Ramp
- Appliances
- FreeStandingElectricRange, Refrigerator, RangeHood
- Standard status
- Active
- APN
- 101805604237421017
- Size
- 2,470 SF
- Lot size
- 0.16 Acres
Taxes and HOA fees
- Tax Annual Amount
- 4006
Utilities
- Heating system
- Central, Forced Air
Building Details
- Year built
- 1972
- Floors in Building
- 1
- Number of units
- 3
- Flooring type
- Tile
- Building materials
- Frame, Stucco
Listing Agency
Realty One of New Mexico
(505) 883-9400
3740 Coors Blvd NW Ste. C, Albuquerque, NM
Listed by
Anahi M Salcido · License #20470
(505) 480-1461
Added: Nov 30, 2025 Checked: Jul 16 at 7:06 pm
MLS# 1095131
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 triplex property, located in Albuquerque, New Mexico, offers a residential income opportunity. The property features three separate units and a serene courtyard with a covered patio. Unit A includes an enclosed front yard, a single-car garage with extra storage space or workshop area, two additional parking spaces, and a large bathroom with a double vanity. Unit C has a private gated backyard with raised flower beds, a compost box, and two large storage sheds. All units provide at least one parking space. The property is conveniently located near Nob Hill, the University of New Mexico (UNM), Kirtland Airforce Base, and the VA Hospital. The property size is 2470 square feet, situated on a lot of 0.16 acres. All three units are currently leased.
Key Highlights
- Private triplex with 3 separate leased units and a shared courtyard with covered patio
- Unit A features an enclosed front yard plus a single‑car garage with extra storage/workshop area and 2 additional parking spaces
- Unit A includes a large bathroom with double vanity
Local Financial Insights For Multifamily LT 5
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 | $34.1k | $13.80 |
| − Vacancy | −$1.9k | −$0.76 |
| EGI | $32.2k | $13.04 |
| − OpEx | −$9.7k | −$3.91 |
| NOI | $22.5k | $9.13 |
2,470 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$322.1K
$281.9K – $375.8K
NOI $22,548 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$298.0K
$260.8K – $347.7K
NOI $20,863 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$597.5K
$522.9K – $697.1K
NOI $41,828 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
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FAQs
What type of property is this?
Triplex - Triplex near Nob Hill, UNM, and Kirtland Airforce Base.
Where is this triplex located?
The property is located at 816 Ortiz Drive SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $342,000.
What are key features of this property?
This property features: Private triplex with 3 separate leased units and a shared courtyard with covered patio; Unit A features an enclosed front yard plus a single‑car garage with extra storage/workshop area and 2 additional parking spaces; Unit A includes a large bathroom with double vanity
