808 Ortiz DR SE, Albuquerque, NM 87108
808 Ortiz DR SE, Albuquerque, NM 87108
808 Ortiz DR SE, Albuquerque, NM 87108
61
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Listed by NM Apartment Advisors, Inc.
$1,424,506
Est. payment /mo
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5 Beds
3 Baths
9,650 SqFt
Active

808 Ortiz DR SE Albuquerque, NM 87108

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Jeff Rose

Jeff Rose

+1(505) 205-4175

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 9,650 sqft

Price per Sqft $147

Subdivision Lots 2, 3 & 4, Block 6, Esparanza Addition

MLS Listing ID 1108861

Bedrooms 5

Construction Status Resale

HOA Y/N No

Year Built 1972

Annual Tax Amount $10,569

Lot Size 0.460 Acres

Acres 0.46

Lot Dimensions Public Records

Property Sub-Type Multi Family

Property Description

The property features two-story town home style apartments, which are separately metered for gas and electric and come with bonus, updated detached storage closets. All apartments offer pragmatic floor plans that are significantly larger than other apartments in the submarket. Residents enjoy spacious, multi-functional living areas, galley kitchens with all appliances (including dishwashers), separate utility rooms with full size washers / dryers, and private outdoor living spaces. 804 & 808 Ortiz offers 2 bed / 1 bath floorplans while 812 Ortiz offers two 3 bed 1.5 bath floor plans and two 2 bed / 1 bath floor plans. Secured access courtyards provide lots of additional landscaped outdoor space for residents to enjoy. Many of the apartments have been completely renovated as well - with new appliances, new luxury vinyl plank & tile flooring, and new fixtures and finishes throughout. At list price, the Seller is open to seller financing with a 15% down payment, and 6% interest rate, 30 year amortization and 5 year call. A larger down payment can increase or extend the balloon period.Located on a vastly improved block with quick and easy access to parks, shopping, Nob Hill, I-40, Kirtland Air Force Base, and the new Albuquerque Community Services Headquarters. This unique 12-unit compound is the rare offering of flexible, multi-generational living opportunities, a solid income generating community with further value add potential, and quality secure, townhome style housing in an improving neighborhood.Metrics of investment performance at the ask price of $1,424,506 include a price per sf of $129, a price per unit of $118,709, and with current rents at $1,134 per month, it generates a GRM of 8.73, a cap rate after reserves of 6.86% and an after tax IRR of 15.10%.

Location

State NM

County Bernalillo

Area 71 - Southeast Heights

Interior

Heating Forced Air

Cooling Evaporative Cooling

Flooring Vinyl

Fireplace No

Appliance Refrigerator

Exterior

Exterior Feature Landscaping

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Accessibility None

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Resale

Others

Tax ID 101805604238321015

Acceptable Financing Cash, Conventional, Owner May Carry

Green/Energy Cert None

Listing Terms Cash, Conventional, Owner May Carry

Virtual Tour https://www.nmapartment.com/3dortiz808unit3

Southwest MLS (SWMLS IDX Plus)
Nearby Locations

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Jeff Rose

Jeff Rose

License ID: 17279

+1(505) 205-4175

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808 Ortiz DR SE