419 Monroe ST NE new Save Request In-Person Tour Request Virtual Tour
Albuquerque,NM 87108
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 33,000 sqft
Price per Sqft $161
Subdivision Heights Reservoir Addition
MLS Listing ID 1092700
Bedrooms 1
Construction Status Resale
HOA Y/N No
Year Built 1960
Annual Tax Amount $22,224
Lot Size 1.230 Acres
Acres 1.23
Lot Dimensions Survey
Property Sub-Type Multi Family
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
Location
State NM
County Bernalillo
Area 40 - Unm
Interior
Heating Central, Forced Air
Cooling Evaporative Cooling
Flooring Carpet, Tile, Vinyl
Fireplace No
Appliance Refrigerator
Exterior
Exterior Feature Landscaping
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Accessibility None
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Resale
Others
Tax ID 101705738541812504
Acceptable Financing Cash,Conventional
Green/Energy Cert None
Listing Terms Cash,Conventional