NM > Albuquerque > Heights Reservoir Addition
Albuquerque, NM 87108,419 Monroe ST NE
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Albuquerque, NM 87108,419 Monroe ST NE
Albuquerque, NM 87108,419 Monroe ST NE
Albuquerque, NM 87108,419 Monroe ST NE
Albuquerque, NM 87108,419 Monroe ST NE
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Jolene Martinez

Jolene Martinez

+1(505) 310-7302
Listed by NM Apartment Advisors, Inc.
$ 5,317,173
Est. payment /mo
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419 Monroe ST NE Albuquerque, NM 87108

1 Bed

1 Bath

33,000 SqFt

UPDATED:

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

Jolene Martinez

Jolene Martinez

Broker | License ID: REC-2025-0397

+1(505) 310-7302

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419 Monroe ST NE