300 La Veta Drive NE, Albuquerque, NM 87108 (MLS# 986324)


$898,300
300 La Veta Drive NE
Albuquerque, NM 87108
MLS# 986324
Status: Pending
6048 sqft


300 La Veta Drive NE, Albuquerque, NM 87108
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Property Description
Known as Nob Hill Square, and located at 300 La Veta NE this community is on the north east corner of Zia and La Veta and just a couple of blocks or so from Dion's Pizza, Loyola's Restaurant, the National Dance Institute, New Mexico Music School, Media Arts Charter School, Antique Mall Row, and a short bike ride to the heart of Nob-Hill and UNM/CNM. The owners have remodeled the property inside and have made over $115,000 in upgrades and improvements. These upgrades include a new roof, parking lot and gating the community. Although the property is 100% occupied, the owners have advanced the rents to market on 25% of the units (now $605 net of utilities) leaving the remaining 75% of the units to be brought to market, doing so increases the cap rate to 7.83%.

Details
Maps
Documents
Status Change Info
Pending Date: 2021-03-10
Contract Information
Listing Price: 898300
Current Price: $898,300
List Price/SqFt: 148.53
On Market Date: 2021-02-23
Status: Pending
Allowance/Concession: No
Bank Owned: No
Location
Street #: 300
Street Name: La Veta
St Suffix: Drive
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 1683
Geo Lat: 35.079882
Geo Lon: -106.583272
Area: 70 - Fairgrounds
Zone Atlas: K18
City/County Data
UPC Code: 101805709026020401
Subdivision: Tijeras Place Addition
General Property Description
# of Units: 12
5+ Units: Yes
Units for Sale: 12
Property Sub-Type: 1
Apx Structured SqFt: 6048
Lot Size Source: On-Line
Acres: 0.12
Lot SqFt: 5009.4
Directions: From I-40 and San Mateo south to Copper, east to La Veta, south to property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 1
Year Built: 1973
Age: 41 - 50
Disability Access: Unknown
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 3233.94
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 90864
Operating Expenses: 34618
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 12
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 504
Actual Rent: 647
Max Rent: 695
Market Rent: 725
Unit Summary
Total Units: 12
Average Unit Size: 504
Average Actual Rent: 647
Annualized: 93168
Total Actual Rent: 7764
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Laundry Community; Security Gate
Appliances included: Refrigerator
Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Carpet; Vinyl
Electric Provider: Public Utility; None
Green Energy Electric: None
Miscellaneous Info: No Sign
Metering: Individual Electric; Individual Gas
Operating Expenses: Other - See Remarks
Owner Pays: Other - See Remarks
Tenant Pays: Other - See Remarks
Roof: Flat
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional
Source: Actual Record; Broker Provided; Owner Provided
Zoning: R-MH*

Listing Office: NM Apartment Advisors, Inc.

Last Updated: March - 18 - 2021

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.

Thursday 15th of April 2021 02:29 AM