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419 Monroe Street NE

Albuquerque NM, 87108

$5,807,969


$176.00 per sqft

Active

1 Bed

1 Bath

33,000 sqft

Multi-family

Built in 1960

Courtesy of NM Apartment Advisors, Inc.

Zia at Nob-Hill's current ownership is on a runway towards achieving a 8.15% 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 (2020), 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 8.15%.Property amenities included high speed internet and laundry care facilities. This is a core asset with stabilized cash flows that could also be

1040505

MLS ID

August 27, 2023

Listed

May 26, 2024

Updated

Map

419 Monroe Street NE
Albuquerque NM, 87108

Interior Features

Total Stories

2


Bedrooms

1


Total Bathrooms

1


Appliances

Refrigerator


Floor Description

Carpet, Tile, Vinyl


Fireplace

No


Cooling

Yes


Cooling Description

Evaporative Cooling


Heating

Yes


Heating Description

Central, Forced Air

Exterior/Building Features

Lot Size

1.23 Acres


Exterior Features

Landscaping

Other Property Details

Area Name

40 - UNM


Taxes

$21,118


Tax Frequency

Annually


Days on Market

118


Garage

No


View

No


County

Bernalillo


Pool

No


Buyer Agency Compensation

2.0%

Green Building Features

Green Features

None

Listing History

Date

Event

Price

3/9/2024

Price Change

$5,807,969

8%

3/9/2024

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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-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor R1 Realty One of New Mexico shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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