419 Monroe Street NE, Albuquerque, NM 87108

• 1 bed |
• 1 bath |
• 33,000 sqft

Property Description

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

Listing Status:

Active

Date Added:

October 9, 2025 at 05:00AM

Listing Office:

NM Apartment Advisors, Inc. : (505) 440-8633

Listing Agent:

Todd D Clarke : (505) 440-8633

MLS ID:

1092700

Interior

• Appliances: Refrigerator
• Flooring: CarpetTileVinyl
• A/C: Evaporative Cooling
• Heating: CentralForced Air
• Disability Feature: None
• Eco/Green Feature: None

Exterior

• General: Landscaping

Construction

• General: BlockFrameStucco2

Location

• Originating MLS: SWMLS_SWMLS
• County: Bernalillo

Lot

• Zoning: Northly 175 feet of Easterly 305' of Tract 18. Heights Reservoir addition101705738541812504

Utilities

• Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected

Financial

• Source: SWMLS_SWMLS

This listing courtesy of Todd D Clarke, NM Apartment Advisors, Inc.