1440 Vassar Drive NE, Albuquerque, NM 87106

$1,314,914

Property Type: Residential Income Square Footage: 5,392 Lot Size (sq. ft.): 14,375 Status: Closed

Current Price: $1,314,914 List Date: 10/08/2022 Last Modified: 1/14/2026

Overview

Description

This all studio 39 unit portfolio, includes 8 units that were recently renovated and three units that rent as furnished studios for $1,050. Located at 1409 Girard NE and 1440 Vassar NE and just north of UNM north campus (medical/law school) and next to the world-famous Padilla's restaurant (arrive early!). Property amenities included high speed internet, security cameras and laundry care facilities. Some units are fully furnished. Both buildings are in close proximity to each other, with the 1440 Vassar NE building separated from 1409 by mixed use properties including the well-established and ever popular Padilla's Mexican restaurant. The owner is offering these properties together or separate.

Listing Details MLS# 1024080

Status Change Info

Pending Date: 2023-08-25
Closing Date: 2023-10-16

Contract Information

List Price/SqFt: 243.86

Location

Street #: 1440
Street Name: Vassar
St Suffix: Drive
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 2661
MLS Area Major: 40 - UNM
Zone Atlas: J16

CityCounty Data

Subdivision Name: Vista Larga

General Property Description

# of Units: 16
5+ Units: Yes
Property Sub-Type: Multi-Family
Living Area: 5392
SqFt Source: Per Appraisal
Apx Lot Dim Front: 999.00
Apx Lot Dim Side: 999.00
Lot Size Source: On-Line
Acres: 0.33
Lot SqFt: 14374.8
Directions: From I40/Carlisle - south on Carlisle, west on Indian School south on Girard. Property is part of a 4 property portfolio, available individually or together.
Stories: 2
Total # of Buildings: Yes
Year Built: 1972
Age: 31 - 40
Disability Access: No
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Total Stories in Bldg: 0

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 8
# Baths: Yes
Style: Studio
Approx. SqFt: 413
Actual Rent: 673
Max Rent: 725
Market Rent: 825

# of Unit Types (2)

# of Units: 8
# Baths: Yes
Style: Renovated
Approx. SqFt: 413
Actual Rent: 732
Max Rent: 835
Market Rent: 895

Unit Summary

Total Units: 16
Average Unit Size: 413
Average Actual Rent: 702.5
Annualized: 134880
Total Actual Rent: 11240

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101605824245221411

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 4096.5

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Laundry Community: Yes
Pool: Yes

Cooling

Evaporative Cooling: Yes

Flooring

Carpet: Yes

Heating

Wall Unit: Yes

Owner Pays

Electric: Yes
Gas: Yes
Maintenance: Yes
Water: Yes

Tenant Pays

None: Yes

Income & Expenses

Annual Gross Income: 129857
Operating Expenses: 54249

Build Description

Resale: Yes

Appliances included

Free-Standing Gas Range: Yes
Refrigerator: Yes

Utilities

Community Water: Yes
Sewer Connected: Yes

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Miscellaneous Info

All Furnished: Yes

Metering

All Master Metering: Yes

Operating Expenses

All: Yes

Roof

Flat: Yes

Finance Considered

Conventional: Yes

Rental Info

Call Listing Broker: Yes

Zoning

R-MH*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Laundry Community; Pool Appliances included: Free-Standing Gas Range; Refrigerator Utilities: Community Water; Sewer Connected Heating: Wall Unit Cooling: Evaporative Cooling Flooring: Carpet Green Energy Generation: None Electric Provider: Public Utility Electric: None Miscellaneous Info: All Furnished Metering: All Master Metering Operating Expenses: All Owner Pays: Electric; Gas; Maintenance; Water Tenant Pays: None Roof: Flat Rental Info: Call Listing Broker Finance Considered: Conventional Zoning: R-MH*

Documents

Flyer & APOD ›

Lead Based Paint ›

LO SO Letter to Buyers, Buyers Broker ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: January - 14 - 2026

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.