419 Monroe Street Ne Albuquerque, NM 87108

50 Units
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$5,317,173 Est. $19,579 / mo.*
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: 15579
Property Type: Multifamily
Status: Active
Year Built: 1960
Neighborhood: Heights Reservoir Addition

Courtesy of NM Apartment Advisors, Inc..

Description

CORE AssetMeasures of investment performance at the ask price of $5,317,173 and current average rents of $878 a month are a GRM of 8.06, a 6.19% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 17.0%And Value AddThe property is currently 20.3% below market rents and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,100, the metrics of investment performance improve to a cap rate of 8.82% and a cash on cash of 12.17%.This community is located facing Zia park and Zia Elementary school and within walking distance of the Nob Hills 80+ restaurants. The property is also within biking distance of the University of NM and sits between two major transit corridors

Open House

Property Details and Features

  • Refrigerator
  • 1 total bathroom
  • 1 total bedroom
  • Built in 1960
  • Living area: 33000.0
  • 12 buildings
  • 2 stories
  • Levels: Two
  • Construction Materials: Block, Frame, Stucco
  • EvaporativeCooling
  • LeadBasedPaintDisclosure
  • Ranm2100Disclosure
  • None
  • Energy Generation: None
  • Operating: $197,886
  • Landscaping
  • Carpet
  • Tile
  • Vinyl
  • Central
  • ForcedAir
  • Gross Income: $516,916
  • Listing ID: 1092700
  • Standard Status: Active
  • MLS Status: Active
  • Property Subtype: MultiFamily
  • On market as of 2025-10-09
  • Subdivision: Heights Reservoir addition
  • MLS Area (Major): 40 - UNM
  • County/Parish: Bernalillo
  • 1.23 acres
  • None
  • Resale
  • Additional parcels description:
  • Parcel Number: 101705738541812504
  • Annual Amount: $22,224.3
  • Legal Description: Northly 175 feet of Easterly 305' of Tract 18,. Heights Reservoir addition
  • Zoning description: R-MH*
  • SeeRemarks
  • ElectricityConnected
  • NaturalGasConnected
  • SewerConnected
  • WaterConnected

Location

$5,317,173 - 419 Monroe Street Ne, Albuquerque, NM 87108
419 Monroe Street Ne Albuquerque, NM 87108
Subdivision: Heights Reservoir addition

Street View

Nearby Schools

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