419 Monroe Street Ne Albuquerque, NM 87108

50 Units
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$5,317,173 Est. $19,579 / mo.*
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Property Type: Multifamily
Status: Active
Year Built: 1960
Neighborhood: Heights Reservoir Addition
Days on Website: 7

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

  • Description: Refrigerator
  • Total Bathrooms: 1
  • Area: 33000
  • Building Area: 33000
  • Construction Materials: Block,Frame,Stucco
  • Levels: Two
  • Year Built: 1960
  • Details: EvaporativeCooling
  • Features: Landscaping
  • Flooring: Carpet,Tile,Vinyl
  • Heating: Central,ForcedAir
  • Days on Market: 0
  • Listing Price: 5317173
  • 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: Survey
  • Utilities: ElectricityConnected,NaturalGasConnected,SewerConnected,WaterConnected

Location

$5,317,173 - 419 Monroe Street Ne, Albuquerque, NM 87108
419 Monroe Street Ne Albuquerque, NM 87108
Address: 419 Monroe Street NE

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