• MLS® #: 950793
  • 1200 Ortiz Drive Se
  • Albuquerque, NM 87108
  • $2,000,000
  • 25560 SqFt, 1.48 Acres
  • Residential Income
  • Office: Nm Apartment Advisors, Inc.

NM Apartment Advisors and the Ron Nelson Company is excited to bring to back to market this amazing 1960s & 70s vintage Albuquerque apartments 1116-1132 & 1200-8 Ortiz SE. A core asset with stabilized cash flow and recent renovations, it is also a value add deal with rents that are a bit below market.Measures of investment performance at ask price of $1,967,000 and current average rent of $586 are a GRM of 6.35, a 7.25% cap rate, cash on cash of 9.79% (before interest only component), $44,705 per unit, and $77/sf.If rents were raised to market average of $710, measures of investment performance increase to a GRM of 5.24, and a 8.60% cap rate.Recent neighborhood rent survey on pages 10-11.

Essential Information

  • MLS® #950793
  • Price$2,000,000
  • Square Footage25,560
  • Acres1.48
  • Year Built1964
  • TypeResidential Income
  • Sub-Type9 or More Units
  • StatusActive

Community Information

  • Address1200 Ortiz Drive Se
  • Area71 - Southeast Heights
  • SubdivisionVirginia Repl Add
  • CityAlbuquerque
  • CountyBernalillo
  • StateNM
  • Zip Code87108

Amenities

  • AmenitiesWalled Complex
  • Parking Spaces45
  • ParkingPaved Lot

Utilities

Electricity Connected, Cable Connected, Natural Gas Connected

Interior

  • AppliancesRefrigerator
  • HeatingOther - See Remarks
  • CoolingOther - See Remarks
  • # of Stories1
  • Stories1 Story

Exterior

  • RoofFlat
  • ConstructionBlock

Additional Information

  • Date ListedAugust 1st, 2019
  • Days on Market133
  • ZoningMX-L*
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Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

Listing information last updated on December 13th, 2019 at 9:58am MST.