Albuquerque Triplex with
For Sale
$342,000
816 Ortiz Drive SE, Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
Property Size2,470 SF
Lot Size0.16 Acres
Price / SF$138.46
Days on Market242
Property Features for 816 Ortiz Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning description
R-1B*
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 1, Bedroom 4, Bedroom 3, Bedroom 5, Bathroom 1, Bedroom 2, Bathroom 3, Bathroom 2
Parking
2
Accessibility
Accessible Approach with Ramp
Appliances
FreeStandingElectricRange, Refrigerator, RangeHood
Directions
From San Mateo and Zuni head south on San Mateo. Take a left on Trumbull and then a right on to Ortiz Drive. Property will be on the east side of the street.
Subdivision
71 - Southeast Heights
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
Forced Air, Central
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
Listed By:
Anahi M Salcido · License #20470
(505) 480-1461
Added: Nov 30, 2025
Changed: Jul 29
Last Checked: Jul 30 at 8:06PM
MLS# 1095131
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 three separate leased units and a shared courtyard with a covered patio
- Unit A features an enclosed front yard, single‑car garage with extra storage/workshop area, and 2 additional parking spaces
- Unit A bathroom includes double vanity and is described with a large bathroom
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 authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
989
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
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 three separate leased units and a shared courtyard with a covered patio; Unit A features an enclosed front yard, single‑car garage with extra storage/workshop area, and 2 additional parking spaces; Unit A bathroom includes double vanity and is described with a large bathroom
