419 Monroe Street NE Albuquerque, NM
$ 3,495,000
Property Attributes
  • MLS#847327
  • TypeMulti-Family
  • CityAlbuquerque
  • AreaUNM
  • NeighborhoodHeights Reservoir Add Tr 18
  • Zip87108
  • Style9 or More Units
  • Year Built1960
  • Taxes13213
  • Price$ 3,495,000
  • Bedrooms0
  • Full Bathrooms1
  • Half Bathrooms0
  • Sqr Footage33000
  • Lot Size1.3 Acres
Listing Provided Courtesy Of:
NM Apartment Advisors, Inc.
Property Description

Based on the ask price of $3,495,000 and an average rent of $618 ($0.95/sf), the property offers a 6.60% Cap rate, 8.98% cash con cash, 17.40% before tax IRR, and a 13.80% after tax IRR. Based on proforma rents of $739, the property could be a 8.57% CAP rate, 17.20% cash on cash, and astronomical IRR.Adjoining recently renovated property that is current collecting rents between $775 to $1,075.The high walk score (72) and bike score (79) is reflective of the Nob Hill lifestyle which offers millennials and baby boomers over 80 restaurants, a Sprouts grocery market and easy access to the UNM and CNM campuses.

Elementary School Middle School High School
Unknown Elementary School Unknown Middle School Unknown High School
Price History
7/26/2017 Listed $3,250,000

General Features

Amenities Laundry Community, Some Landscaping
Builder UNK
Construction Frame
Finance Considered Cash, Conventional
Number of Units 50.00
Rental Info Current Lse Agreemnt
Stories 2.0
Subdivision Y/N Heights Reservoir Add Tr 18
Tenant Pays None
Utilities All City
Zoning R-3

Interior Features

5+ Units Yes
Appliances Included Refrigerator
Basement No
Cooling Evaporative
Flooring Carpet, Tile
Heating Central Forced Air

Exterior Features

Disability Access Unknown
Exterior Material Stucco
Metering All Master Metering
Roof Flat


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Pets
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 87108

AVG $290K
AVG $2,219
AVG 31
Year Built
AVG 1962
AVG 67

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