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

Listing Office: NM Apartment Advisors, Inc.
Last Updated: February – 05 – 2024
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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