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1920 Vassar Dr NE
Albuquerque, NM 87106
The Q @ Vassar North · Multifamily Property For Sale
·
32 Units
PROPERTY FACTS
| No. Units | 32 | Lot Size | 0.57 AC |
| Property Type | Multifamily | Building Size | 24,800 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1979 |
| Building Class | C | ||
| Zoning | R-ML | ||
| No. Units | 32 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.57 AC |
| Building Size | 24,800 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Zoning | R-ML |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Porch
SITE AMENITIES
- Gated
- Sundeck
ABOUT 1920 VASSAR DR NE , ALBUQUERQUE, NM 87106
An Opportunity to acquire part of the Q Portfolio! Q at Vassar North - 1920 Vassar NE – 32 units recently renovated. New Mexico Apartment Advisors is honored to bring to market the Q Portfolio: A best in class brand of millennial preferred apartment communities located in Albuquerque, NM. The Q's expandable portfolio of 131 apartment residences in 3 campuses all located in Albuquerque's millennial corridor features a quality, vibrant living environment for those who want to Live Different. Care and attention to detail is what the Q experience is all about. The residents at the Q enjoy the same level of professional customer service and amenities you may expect at a national chain of apartment communities, but with a distinct personal touch and character. This is a core asset with stabilized cash flow, incredible renovations, an amazing architectural aesthetic and focus on top notch design. Measures of investment performance at a price of $5,732,083 and current average rent of $1,173 are a GRM of 12.96, a 5.34% cap rate, $179,128 per unit, $226/sf, and a cash on cash return of 8.83. When rents are raised to market of $1,225 - measures of investment performance improve to GRM of 12.33, 5.52% cap rate, and a cash on cash of 9.45%. The portfolio includes in place management and state of the art property systems overseen by TEAM ABQ management – portfolio website can be found at - theqdifference.com Please do not visit the property and disturb residents, but visit our visual tours at Q @ Vassar North - www.nmapartment.com/Q3dvn1 and www.nmapartment.com/Q3dvn2 or contact the listing broker for a guided market/property tour. You and your client can complete the online confidentiality agreement at www.nmapartment.com/theQ 2% buyers broker fee is part of this fabulous offering. Don't miss out on this once in a generation opportunity to own one of the nicest apartments in New Mexico. Todd Clarke CCIM CIPs CEO NM Apartment Advisors, Inc. (505) 440-8633
PROPERTY TAXES
| Parcel Number | 1-016-059-212140-3-18-15 | Improvements Assessment | $249,918 |
| Land Assessment | $103,471 | Total Assessment | $353,389 |
PROPERTY TAXES
