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About This Home
This 1-bedroom, 1-bathroom residential multi family at 419 Monroe Street NE in Albuquerque, NM is listed for $5,317,173 ($161 per sqft). Built in 1960, the home offers 33,000 sqft of living space on a 1.23 acres lot.
CORE AssetMeasures of investment performance at the ask price of $5,317,173 and current average rents of $878 a month are a GRM of 8.06, a 6.19% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 17.0%And Value AddThe property is currently 20.3% below market rents and that does not take into account the double digit annual rent growth the market is enjoying.
If the rents are raised to the market of $1,100, the metrics of investment performance improve to a cap rate of 8.82% and a cash on cash of 12.17%.This community is located facing Zia park and Zia Elementary school and within walking distance of the Nob Hills 80+ restaurants. The property is also within biking distance of the University of NM and sits between two major transit corridors
Key Features
- Built in 1960
- 1.23 acre lot
- 2 stories
Property Details
Amenities
Monthly Cost Estimate
$28,437/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
419 Monroe Street NE
Albuquerque, NM 87108
Heights Reservoir addition
Features & Amenities
Exterior Features
Property Details
Flooring
Construction
Heating
Appliances
Questions & Answers
This 1-bedroom, 1-bathroom residential multi family at 419 Monroe Street NE is listed at $5,317,173 ($161/sqft). The estimated monthly payment is $23,041 based on 20% down at 6.5% interest.
Key features include: Built in 1960, 1.23 acre lot, 2 stories. Exterior Features: Landscaping.
This property is listed by Todd D Clarke and can be reached at 5054408633 or tclarke@nmapartment.com.
