1200 Ortiz Drive SE, Albuquerque, NM 87108

$3,965,358

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Property Type: Residential Income Square Footage: 25,632 Lot Size (sq. ft.): 13,504 Status: Active

Current Price: $3,965,358 List Date: 10/08/2025 Last Modified: 2/17/2026

Overview

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) ...

Listing Details MLS# 1092641

Contract Information

List Price/SqFt: 154.7
Allowance/Concession: No

Location

Street #: 1200
Street Name: Ortiz
St Suffix: Drive
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
MLS Area Major: 71 - Southeast Heights
Zone Atlas: L18

CityCounty Data

Subdivision Name: Virginia Place Addition

General Property Description

# of Units: 44
5+ Units: Yes
Units for Sale: 44
Property Sub-Type: Multi-Family
Living Area: 25632
SqFt Source: Professional
Lot Size Source: Survey
Acres: 0.31
Lot SqFt: 13503.6
Directions: From I-25 and Gibson, east on Gibson past San Mateo, north on Ortiz to property.
Stories: Yes
Total Stories in Bldg: Yes
Total # of Buildings: 8
Year Built: 1964
Year Built Source: Public Records
Age: 41 - 50
# Parking Spaces: 47
Accessory Dwelling Unit: No
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Three
Flood Zone: AO

Cooling

Centrally Ducted: No
Other: Yes

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 40
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 552
Actual Rent: 724
Max Rent: 1000
Market Rent: 1000

# of Unit Types (2)

# of Units: 4
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 752
Actual Rent: 957
Max Rent: 1020
Market Rent: 1020

Unit Summary

Total Units: 44
Average Unit Size: 570.18
Average Actual Rent: 745.18
Annualized: 393456
Total Actual Rent: 32788

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101805604219331411

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 3774.44

Construction Materials

Block: Yes

Amenities

Walled Complex: Yes

Flooring

Carpet: Yes
Vinyl: Yes

Heating

Active Solar: Yes
Other: Yes

Owner Pays

Other - See Remarks: Yes

Tenant Pays

Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 401863
Operating Expenses: 281800

Build Description

Resale: Yes

Appliances included

Refrigerator: Yes

Utilities

Cable Connected: Yes
Electricity Connected: Yes
Natural Gas Connected: Yes

Green Energy Generation

Solar: Yes

Power Production Ownership

Seller Owned: Yes

Electric Provider

Community: Yes

Electric

None: Yes

Miscellaneous Info

No Sign: Yes

Metering

All Master Metering: Yes
Other - See Remarks: Yes

Operating Expenses

Other - See Remarks: Yes

Parking

Paved: Yes

Roof

Flat: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Other - See Remarks: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Block Build Description: Resale Amenities: Walled Complex Appliances included: Refrigerator Utilities: Cable Connected; Electricity Connected; Natural Gas Connected Heating: Active Solar; Other Cooling: Other Flooring: Carpet; Vinyl Green Energy Generation: Solar Power Production Ownership: Seller Owned Electric Provider: Community Electric: None Miscellaneous Info: No Sign Metering: All Master Metering; Other - See Remarks Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Parking: Paved Roof: Flat Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Zoning: R-MH*

Documents

Flyer & APOD ›

LO SO Letter to Buyers, Buyers Broker ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: February - 17 - 2026

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.