BEDS1
BATHS
SQUARE FEET33,000
MLS#1092700
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONHeights Reservoir addition
Property 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
Property Features
Property Type: Multi Unit - Multiple
Cooling: Evaporative Cooling
Heating: Central, Forced Air
Lot Size: 1.23 Acres
Stories: 2.0
Taxes: $22,224
Year Built: 1960
Amenities
Landscaping
Feature Descriptions
Accessibility: None
Appliances: Refrigerator
Days on Site: 189
Exterior: Block, Frame, Stucco
Flooring: Carpet, Tile, Vinyl
Parcel#: 101705738541812504
Units: 50
Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Listed By / Shown By
Listed By
Agency Name: NM Apartment Advisors, Inc.
Agency Phone: (505) 440-8633
Shown By
Agency Title: Coldwell Banker Legacy
Agency Phone: (505) 828-1000
Estimate Your Payment
Estimated Payment
$ 15,236.57 per month $11,833.72 Principal & Interest $1,852.00 Property Tax $1,550.84 Homeowner's InsuranceChange Payment Information
Top REALTORS® in this Area
Casey Landis
From our very first call, Casey Landis impressed us with his in- depth market knowledge and sincere interest in our family's unique needs and timeline. At our first meeting, he presented a thorough market analysis and a well-crafted strategy that clearly stood out from other agents. Relocating across the country complicated our situation, but Casey went above and beyond by managing details, connecting us with trusted resources, and ensuring our home stayed show-ready and secure. His steady communication, expert guidance, and dedication helped ease our stress and resulted in a successful sale that met all our goals. We wholeheartedly recommend Casey to anyone seeking a knowledgeable,
trustworthy, and committed realtor.
— Gregory Howell
— Gregory Howell
Ashly Jaramillo
I had an excellent experience working with Ashly. I would recommend her to anyone that is in the process of buying a home.— Martha Edwards
— Martha Edwards
419 Monroe Street Ne | MLS# 1092700
This multi-family property located at 419 Monroe Street Ne, Albuquerque, NM 87108 is currently listed for sale with an asking price of $5,317,173. Search Albuquerque real estate on www.cblegacy.com today.