1200 Ortiz Drive SE, Albuquerque, NM 87108
- $3,965,358
- 3
- BD
- 2
- BA
- 25,632
- SqFt
- List Price
- $3,965,358
- MLS#
- 1092641
- Property Type
- Multifamily
- Bedrooms
- 3
- Bathrooms
- 2
- Sqft. of Residence
- 25,632
- Lot Size
- 13,503
- Region
- Southeast Heights
- Status
- ACTIVE
Property Description
Measures of investment performance at ask price of $3,965,358 and current average rent of $745 are a GRM of 10.08, a 6.65% cap rate, cash on cash of 6.42%, $90,122 per unit, and $154/sf. If rents were raised to market rents of $1,002, measures of investment performance increase to a GRM of 7.50, and a 8.65% cap rate.Please note the numerous property upgrades listed in the flyer and pay special attention to all of the new development in the area, including the recently opened City of Albuquerque Community Services Headquarter directly west of the property.Most of the apartments have been updated with contemporary finishes & luxury vinyl plank flooring throughout. Secured access / courtyard entry to all buildings and apartments with 47 off street parking spaces (2 carport) ...
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Additional Information
- County
- Bernalillo
- Subdivison
- Virginia Place Addition
- Acres
- 0.31
- Appliances
- Refrigerator
- Construction
- Block
- Cooling
- Other
- Flooring
- Carpet, Vinyl
- Heating
- Active Solar, Other
- Owner Pays
- Other, See Remarks
- Utilities
- Cable Connected, Electricity Connected, Natural Gas Connected
- Zoning
- R-MH*
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Listing courtesy of Todd D Clarke from NM Apartment Advisors, Inc.
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-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.