Homes by Carolyn Fischman

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

300 La Veta Drive NE, Albuquerque, NM 87108

$898,300
Property Type: Residential Income Square Footage: 6,048 Lot Size (sq. ft.): 5,009 Status: Closed
Current Price: $898,300 List Date: 2/23/2021 Last Modified: 5/07/2021

Overview

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%.

Listing Details MLS# 986324

Status Change Info

Pending Date
2021-03-10
Closing Date
2021-05-07

Contract Information

List Price/SqFt
148.53
Allowance/Concession
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
MLS Area Major
70 - Fairgrounds
Zone Atlas
K18

CityCounty Data

Subdivision Name
Tijeras Place Addition

General Property Description

# of Units
12
5+ Units
Yes
Units for Sale
12
Property Sub-Type
Multi-Family
Living Area
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
Yes
Year Built
1973
Age
41 - 50
Disability Access
Unknown
LBP Disclosure
Yes
Builder
Unknown
Owner Occupant Unit
No
Flood Zone
X

Basement

Basement
No

More Information

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
12
# of Bedrooms
Yes
# Baths
Yes
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

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101805709026020401

Tax & Legal Info

GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
3233.94

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

Gated
Yes
Laundry Community
Yes

Cooling

Evaporative Cooling
Yes

Flooring

Carpet
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
90864
Operating Expenses
34618

Build Description

Resale
Yes

Appliances included

Refrigerator
Yes

Utilities

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

Electric Provider

Public Utility
Yes
None
Yes

Electric

None
Yes

Miscellaneous Info

No Sign
Yes

Metering

Individual Electric
Yes
Individual Gas
Yes

Operating Expenses

Other - See Remarks
Yes

Roof

Flat
Yes

Finance Considered

Cash
Yes
Conventional
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: Frame; Stucco Build Description: Resale Amenities: Gated; Laundry Community 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 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: May - 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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