419 Monroe Street NE
Albuquerque, NM 87108
MLS #847327

  • 50units
Est. P&I payment: $13348.53/mo
Description for 419 Monroe Street NE, Albuquerque, NM 87108
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.
MLS #847327
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My Notes for MLS #847327

General Features

  • Property Type: C
  • Units for Sale: 50
  • Approx Structured SqFt: 33,000
  • Year Built: 1960
  • Acres: 1
  • Total Number of Stories: 2
  • Total Number of Buildings: 7
  • Stories: 2
  • Property Sub-Type: 9 or More Units
  • 5+ Units: Yes
  • Age: 1 - 3
  • Number of Units: 50
  • Lot SqFt: 56,628
  • Zoning: R-3

Exterior Features

  • Exterior Material: Stucco
  • Roof: Flat

Interior Features

  • Basement: Basement: No
  • Unit Type 1: Number of Units: 50
  • Unit Type 1: Number of Bedrooms: 1
  • Unit Type 1: Number Baths: 1
  • Unit Type 1: Average SqFt: 653
  • Unit Summary: Total Units: 50
  • Unit Summary: Average Unit Size: 653
  • Unit Summary: Average Actual Rent: 605
  • Unit Summary: Annualized: 363,000
  • Flooring: Carpet,​Tile

Utility Features

  • Amenities: Laundry Community,​Some Landscaping
  • Appliances included: Refrigerator
  • Cooling: Evaporative
  • Heating: Central Forced Air
  • Utilities: All City

Financial Features

  • Approximate Taxes: 13,213
  • List Price/SqFt: 106
  • Foreclosure: No
  • Unit Type 1: Average Actual Rent: 605
  • Unit Type 1: Max Rent: 610
  • Unit Type 1: Market Rent: 665
  • Unit Summary: Total Actual Rent: 30,250
  • Finance Considered: Cash,​Conventional
  • Owner Pays: Electric,​Gas,​Maintenance,​Sewer,​Trash Removal,​Water
  • Tenant Pays: None

Community Features

  • Subdivision: Heights Reservoir Add Tr 18

Miscellaneous Features

  • Disability Access: Unknown
  • Lead Base Paint: Yes
  • Construction: Frame


Street View Not Available
Directions to 419 Monroe Street NE, Albuquerque, NM 87108
From I-40 east to San Mateo, south to Lomas, west to Monroe, south to property.
The listing information for 419 Monroe Street NE, Albuquerque, NM 87108 was graciously provided by our friends at the listing brokerage, NM Apartment Advisors, Inc.

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P&I Payment $13348.53
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Last Updated 04/24/2018 at 6:14am
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