Skip To Content

419 Monroe Street NE

Albuquerque, NM 87108
  • $5,349,113
  • STATUS: Active
  • ON SITE: 36 Days
  • MLS #: 1040505
UPDATED: 53 min ago
$5,349,113
  • 1
    BEDS
  • 1.23
    ACRES
  • 1
    BATHS
  • 0
    1/2 BATHS
  • 33,000
    SQFT
  • $162
    $/SQFT
Type:
Multi-Family
Built:
1960
County:
Area:

School Ratings & Info

Description

Zia at Nob-Hill's current ownership is on a runway towards achieving a 9.24% cap rate with individual unit renovations and higher rents.The owner has done all of the non-sexy capital items including upgrading landscaping (2019), improved the parking lot (202o), installed new gas-lines (2019), a new roof (2019) and a security gate for parking. As units turn-over, the owner has developed a unit upgrade plan allowing them to capture higher rents. This combination makes the property a value add with the potential to renovate units and raise rents to a level closer to the neighboring property creating a potential cap rate of a 9.24%.CORE AssetMeasures of investment performance at the ask price of $5,349,113 and current average rents of $868 a month are a GRM of 10.27, a 5.75% cap

Monthly Payment Calculator



IDX information © 2023 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Buchman Group | Keller Williams Realty. Data last updated: 2023-10-03T20:05:13.647.
www.mynmdreamhome.com/homes/142835046
Print Image

419 Monroe Street NE Albuquerque, NM 87108

  • Price: $5,349,113
  • Status: Active
  • On Site: 36 Days
  • Updated: 53 min ago
  • MLS #: 1040505
1
Beds
1
Baths
0
½ Baths
1.23
Acres
33,000
SQFT
$162
$/SQFT
1960
Built
Neighborhood:
Heights Reservoir Addition
County:
Bernalillo
Area:
40 - UNM
Property Description
Zia at Nob-Hill's current ownership is on a runway towards achieving a 9.24% cap rate with individual unit renovations and higher rents.The owner has done all of the non-sexy capital items including upgrading landscaping (2019), improved the parking lot (202o), installed new gas-lines (2019), a new roof (2019) and a security gate for parking. As units turn-over, the owner has developed a unit upgrade plan allowing them to capture higher rents. This combination makes the property a value add with the potential to renovate units and raise rents to a level closer to the neighboring property creating a potential cap rate of a 9.24%.CORE AssetMeasures of investment performance at the ask price of $5,349,113 and current average rents of $868 a month are a GRM of 10.27, a 5.75% cap
Exterior Features

Construction Materials BlockFrame Exterior Features Landscaping Levels Two Stories Total 2

Interior Features

Appliances Refrigerator Basement YN No Cooling Evaporativecooling Cooling YN Yes Flooring CarpetTileVinyl Heating CentralForcedair Heating YN Yes

Property Features

Additional Parcels YN Yes Builder Name Unknown Building Area Total 33000 Green Energy Generation None Gross Income 508329 Listing Agreement Exclusiverighttosell Listing Terms CashConventional New Construction YN No Operating Expense 200832 Property Condition Resale Property Sub Type Multifamily Tax Annual Amount 21118.36 Tenant Pays OtherSeeremarks Utilities ElectricityconnectedNaturalgasconnectedSewerconnectedWaterconnected Zoning Description R-Mh*

Southwest MLS] logo Listing courtesy of Nm Apartment Advisors, Inc.: (505) 440-8633. © 2023 Southwest Multiple Listing Service, Inc.


IDX information © 2023 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or The Buchman Group | Keller Williams Realty. Data last updated: 2023-10-03T20:05:13.647.
 
https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1040505-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1040505-2.jpg https://bt-photos.global.ssl.fastly.net/swmls/1280_boomver_1_1040505-2.jpg
Logo
The Buchman Group | Keller Williams Realty
6703 Academy Rd NE
Albuquerque NM, 87109