306 Vassar (and 310) Drive SE, Albuquerque, NM 87106

$1,201,246

308-Vassar-Drive-SE-Unit-4-Dollhouse-Vie

308-Vassar-Drive-SE-Unit-4-Unfurnished(1

308-Vassar-Drive-SE-Unit-4-03022023_1045

308-Vassar-Drive-SE-Unit-4-03022023_1043

308-Vassar-Drive-SE-Unit-4-03022023_1044

Property Type: Residential Income Square Footage: 6,081 Lot Size (sq. ft.): 14,201 Status: Closed

Current Price: $1,201,246 List Date: 1/08/2025 Last Modified: 3/06/2025

Overview

Description

306 Vassar SE is a smartly remodeled, open concept 2 bedroom / 1 bath cottage with private parking and a wraparound yard on its own lot. 310 Vassar is an updated 3 bedroom / 2 bath bungalow. 312 Vassar features 12 updated studio apartments - each with the same accommodating and pragmatic floor plan with unique custom touches and character in each apartment. All units have thermal windows. 310 and 312 Vassar both have newer roofs. You'll also and lots of other updates throughout each unit. Exceptional UNM/ CNM location with R-ML Zoning on both lots and plenty of off-street parking to accommodate all tenants and their visitors. This unique compound offers the rare opportunity for both a quality core asset with room for natural rent growth and plenty of value add opportunity ,

Listing Details MLS# 1076145

Status Change Info

Pending Date: 2025-01-10
Closing Date: 2025-03-06

Contract Information

List Price/SqFt: 197.54
Allowance/Concession: No

Location

Street #: 306
Street Name: Vassar (and 310)
St Suffix: Drive
Post Direction: SE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87106
Zip +4: 2827
MLS Area Major: 42 - UNM South
Zone Atlas: K16

CityCounty Data

Subdivision Name: Lots 4 & 5, Block 27, University Heights Addition

General Property Description

# of Units: 14
5+ Units: Yes
Units for Sale: 14
Property Sub-Type: Multi-Family
Living Area: 6081
Lot Size Source: On-Line
Acres: 0.33
Lot SqFt: 14201
Directions: From I 25 and Central, east to Vassar, south to property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 4
Year Built: 1916
Year Built Source: Public Records
Age: Select One
Accessory Dwelling Unit: No
Disability Access: No
LBP Disclosure: Yes
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: Two
Flood Zone: X

Cooling

Centrally Ducted: No
Evaporative Cooling: Yes
Window Unit(s): Yes

More Information

Basement

Basement: No

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 12
# of Bedrooms: 9
# Baths: Yes
Style: 308
Approx. SqFt: 331
Actual Rent: 675
Max Rent: 700
Market Rent: 777

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Style: 306
Approx. SqFt: 750
Actual Rent: 1320
Max Rent: 1320
Market Rent: 1400

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: 3
# Baths: 2
Style: 310
Approx. SqFt: 1100
Actual Rent: 1595
Max Rent: 1650
Market Rent: 1650

Unit Summary

Total Units: 14
Average Unit Size: 415.85
Average Actual Rent: 786.78
Annualized: 132180
Total Actual Rent: 11015

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101605723214431818

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 2045.28

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

No Landscaping: Yes

Flooring

Vinyl: Yes

Heating

Central: Yes
Forced Air: Yes
Wall Unit: Yes

Owner Pays

Other - See Remarks: Yes

Tenant Pays

Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 127560

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

Other - See Remarks: Yes

Operating Expenses

Other - See Remarks: Yes

Parking

Paved: Yes

Roof

Flat: Yes
Pitched: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Other - See Remarks: Yes

Zoning

R-ML*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: No Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central; Forced Air; Wall Unit Cooling: Evaporative Cooling; Window Unit(s) Flooring: Vinyl Green Energy Generation: None Electric Provider: Public Utility Miscellaneous Info: No Sign Metering: Other - See Remarks Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Parking: Paved Roof: Flat; Pitched Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Zoning: R-ML*

Documents

Flyer & APOD ›

LO SO Letter to Buyers, Buyers Broker ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: March - 06 - 2025

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.