Address
419 Monroe Street NE Albuquerque, NM
Price
$ 3,495,000
Property Attributes
  • MLS#847327
  • TypeMulti-Family
  • CountyBERNALILLO
  • 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

Amenities

  • 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

Price
AVG $290K
$3.5M
Taxes
AVG $2,219
$13,213
Visits
AVG 31
148
Year Built
AVG 1962
1960
Walkscore
AVG 67
78

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