419 Monroe Street Ne Albuquerque, NM 87108

50 Units
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$5,807,969 Est. $20,657 / mo.*
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Property Type: Multifamily
Status: Active
Year Built: 1960
Neighborhood: Heights Reservoir Addition
Days on Website: 245

Courtesy of NM Apartment Advisors, Inc..

Description

Zia at Nob-Hill's current ownership is on a runway towards achieving a 8.15% cap rate with individual unit renovations and higher rents.The owner has done all of the non-sexy capital items including upgrading landscaping (2019), improved the parking lot (2020), installed new gas-lines (2019), a new roof (2019) and a security gate for parking. As units turn-over, the owner has developed a unit upgrade plan allowing them to capture higher rents. This combination makes the property a value add with the potential to renovate units and raise rents to a level closer to the neighboring property creating a potential cap rate of a 8.15%.Property amenities included high speed internet and laundry care facilities. This is a core asset with stabilized cash flows that could also be

Open House

Property Details and Features

  • Description: Refrigerator
  • Total Bathrooms: 1
  • Area: 33000
  • Building Area: 33000
  • Construction Materials: Block,Frame
  • Levels: Two
  • Year Built: 1960
  • Details: EvaporativeCooling
  • Features: Landscaping
  • Flooring: Carpet,Tile,Vinyl
  • Heating: Central,ForcedAir
  • Days on Market: 43
  • Listing Price: 5807969
  • Status: Active
  • Address: 419 Monroe Street NE
  • Area: 40 - UNM
  • City: Albuquerque
  • State: NM
  • Zip: 87108
  • County: Bernalillo
  • Subdivision: Heights Reservoir addition
  • Directions: From Lomas and Monroe stoplight (and Los Cuates) - due south to property.
  • Acres: 1.23
  • Size: 0
  • Size Source: PublicRecords
  • Utilities: ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected
$5,807,969 - 1Br/Ba - for Sale in Heights Reservoir Addition, Albuquerque
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Location

$5,807,969 - 419 Monroe Street Ne, Albuquerque, NM 87108
419 Monroe Street Ne Albuquerque, NM 87108
Address: 419 Monroe Street NE

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