1830 Vassar Drive NE, Albuquerque, NM 87106 (MLS# 1039273)

1830 Vassar Drive NE, Albuquerque, NM 87106

$2,504,006

Property Type: Residential Income Square Footage: 13,456 Lot Size (sq. ft.): 18,295 Status: Closed

Current Price: $2,504,006 List Date: 8/05/2023 Last Modified: 2/05/2024

Overview

Description

The Diamonds The Diamonds, named for its 4 uniform square footprints, that are turned 45 degrees on the 2nd floor contains 32 studio apartments with an amazing floorplan. The Diamond apartments are a real diamond in the rough and rare opportunity to refresh one of only two (known), Bart Prince designed apartments buildings in Albuquerque. While the exterior design reflects squares and diamonds and is rumored to be a bit of a sun-dial during the equinoxes, the interior floorplans for the studio units are one the most efficient and best designed for use while flooding the units with natural light. Portfolio This once in a generation sale is the first offering for these communities in 18 years. The estate that holds title to these apartments has a preference for a portfolio sale.

Listing Details MLS# 1039273

Status Change Info

Pending Date: 2023-08-11
Closing Date: 2023-10-30

Contract Information

List Price/SqFt: 186.09
Allowance/Concession: No

Location

Street #: 1830
Street Name: Vassar
St Suffix: Drive
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 2564
MLS Area Major: 40 - UNM
Zone Atlas: H16

CityCounty Data

Subdivision Name: Lots 1 - 6, Block 21,Netherwood Park Addition.

General Property Description

# of Units: 32
5+ Units: Yes
Units for Sale: 32
Property Sub-Type: Multi-Family
Living Area: 13456
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 0.42
Lot SqFt: 18295
Directions: From I-40 and Carlisle, south on Carlisle, west on Indian School, north on Girard to west on Cutler to property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 4
Year Built: 1973
Age: 41 - 50
Disability Access: No
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Five
Flood Zone: X

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 32
# Baths: Yes
Approx. SqFt: 421
Actual Rent: 691
Max Rent: 800
Market Rent: 895

Unit Summary

Total Units: 32
Average Unit Size: 421
Average Actual Rent: 691
Annualized: 265344
Total Actual Rent: 22112

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101605921310531310

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 8690

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Some Landscaping: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Carpet: Yes
Tile: Yes
Vinyl: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Other - See Remarks: Yes

Tenant Pays

Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 252124
Operating Expenses: 108144

Build Description

Resale: Yes

Appliances included

Refrigerator: Yes

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Miscellaneous Info

No Sign: Yes

Metering

Master Electric: Yes
Master Gas: Yes

Parking

1 Space Per Unit: Yes

Roof

Flat: Yes
Tar Gravel: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Other - See Remarks: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Some Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Miscellaneous Info: No Sign Metering: Master Electric; Master Gas Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Parking: 1 Space Per Unit Roof: Flat; Tar Gravel Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Zoning: R-MH*

Documents

LO SO Letter to Buyers, Buyers Broker ›

Tax Levy Disclosure ›

Lead Based Paint ›

Flyer & APOD ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: February - 05 - 2024

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