1033 Madeira Drive SE, Albuquerque, NM 87108

$2,852,973
Property Type: Residential Income Square Footage: 28,290 Lot Size (sq. ft.): 37,505 Status: Closed
Current Price: $2,852,973 List Date: 11/22/2020 Last Modified: 10/07/2021

Overview

Description

Built by Cauwels-Davis in 1975, this 42 unit community was built for durability and function. Light bright units with concrete beamed ceilings and brick facades this is your grandmother's apartment in quality and vintage. Sister communities in the area have been converted into attractive condominiums. The property is located at 1033 Madeira SE, in a corridor of new development from the Max-Q billion+ dollar development to the City of Albuquerque's north runway redevelopment to aviation business park to the new mixed use / food truck development and the planned new city parks and police command station. This property is surrounded by redevelopment / new development that will likely lead to increasing employment, population and demand for housing in the coming years.

Listing Details MLS# 981534

Status Change Info

Pending Date
2021-04-13
Closing Date
2021-10-07

Contract Information

List Price/SqFt
100.85

Location

Street #
1033
Street Name
Madeira
St Suffix
Drive
Post Direction
SE
County
Bernalillo
City/Town Code
Albuquerque
State/Province
NM
Zip Code
87108
Zip +4
4632
MLS Area Major
71 - Southeast Heights
Zone Atlas
L18

CityCounty Data

Subdivision Name
Virginia Place Addition Mansons Replat

General Property Description

# of Units
42
5+ Units
Yes
Units for Sale
42
Property Sub-Type
Multi-Family
Living Area
28290
SqFt Source
Professional
Lot Size Source
On-Line
Acres
0.86
Lot SqFt
37505.16
Directions
From I-25 & GIbson - east on Gibson to Madeira, north to property
Stories
3
Total Stories in Bldg
3
Total # of Buildings
2
Year Built
1964
Age
51 - 60
Disability Access
Unknown
LBP Disclosure
Yes
Builder
Cauwels & Davis
Owner Occupant Unit
No
Multiple Lots
Five
Flood Zone
X

Basement

Basement
Yes

More Information

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
36
# of Bedrooms
Yes
# Baths
Yes
Approx. SqFt
651
Actual Rent
775
Max Rent
757
Market Rent
795

# of Unit Types (2)

# of Units
6
# of Bedrooms
2
# Baths
Yes
Approx. SqFt
810
Actual Rent
823
Max Rent
823
Market Rent
895

Unit Summary

Total Units
42
Average Unit Size
673.71
Average Actual Rent
781.85
Annualized
394056
Total Actual Rent
32838

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101805605621832103

Tax & Legal Info

GRT Code
02-100
Tax Exemption
Unknown
Tax Annual Amount
17304.46

Construction Materials

Brick
Yes
Brick Veneer
Yes

Amenities

Pool
Yes
Some Landscaping
Yes

Cooling

Other
Yes

Flooring

Carpet
Yes
Tile
Yes
Vinyl
Yes

Heating

Other
Yes

Owner Pays

Other - See Remarks
Yes

Tenant Pays

Other - See Remarks
Yes

Build Description

Resale
Yes

Appliances included

Refrigerator
Yes

Utilities

Cable Connected
Yes
Electricity Connected
Yes
Natural Gas Connected
Yes
Sewer Connected
Yes
Water Connected
Yes

Electric Provider

Public Utility
Yes

Electric

None
Yes

Finance Considered

Other - See Remarks
Yes

Rental Info

Other - See Remarks
Yes

Source

Actual Record
Yes
Broker Provided
Yes
Owner Provided
Yes

Zoning

R-MH*
Yes

Property Features

Construction Materials: Brick; Brick Veneer Build Description: Resale Amenities: Pool; Some Landscaping Appliances included: Refrigerator Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Other Cooling: Other Flooring: Carpet; Tile; Vinyl Electric Provider: Public Utility Electric: None Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Rental Info: Other - See Remarks Finance Considered: Other - See Remarks Source: Actual Record; Broker Provided; Owner Provided Zoning: R-MH*

Documents

Listing Office: NM Apartment Advisors, Inc.
Last Updated: October - 07 - 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.

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