419 Monroe Street NE, Albuquerque, NM 87108
- $5,317,173
- 1
- BD
- 1
- BA
- 33,000
- SqFt
- List Price
- $5,317,173
- Status
- ACTIVE
- Days on Market
- 292
- MLS#
- 1092700
- Subtype
- Residential Income
- Year Built
- 1960
- Bedrooms
- 1
- Bathrooms
- 1
- Living Area
- 33,000
- Lot Size
- 53,578
- Acres
- 1.23
- Subdivision
- Heights Reservoir Addition
- Neighborhood
- Heights Reservoir Addition
- MLS Area Major
- UNM
Property Description
CORE AssetMeasures of investment performance at the ask price of $5,317,173 and current average rents of $914 a month are a GRM of 9.69, a 6.63% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 16.8%And Value AddThe property is currently 20.3% below market rents at the adjoining, siter property 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 $1,338, the metrics of investment performance improve to a cap rate of 11.51% and a cash on cash of 19.20%.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 betw
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Additional Information
- Exterior Features
- Landscaping
- Taxes
- $22,224
- Zoning
- R-MH*
- Flooring
- Carpet, Tile, Vinyl
- Appliances
- Refrigerator
- Heating
- Central, Forced Air
- Air Conditioning
- Evaporative Cooling
- Exterior Construction
- Block, Frame, Stucco
- Stories
- 2
- Levels
- Two
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Listing courtesy of Todd D Clarke from NM Apartment Advisors, Inc.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.