419 Monroe St NE

Albuquerque NM 87108

33000 sq. ft.

53578.8 sq. ft.

Multi-Family

Currently for sale - view listing

Overview

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

Features

1 bedroom

1 bathroom

33000 sq. ft. floor area

53578.8 sq. ft. lot size

Multi-Family

Property history for 419 Monroe St NE

2018

Sold

Undisclosed

13 Sep 2018 by Todd Clarke CCIM, of NM Apartment Advisors, Inc.

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Local market activity for 1 bedroom multi families in Albuquerque

Sold

For Sale

View the listing for inspection times, agent contact details, and more.

Todd Clarke

at NM Apartment Advisors, Inc.

View listing

Sales:: (619) 566-0008

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