• $3,250,000 419 Monroe Street Ne Albuquerque, NM 87108 Active
  • 33000 Sqft. $98 Per Sqft. 1.30 Acres MLS® #:847327 Built in 1960
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Essential Information

  • MLS® #847327
  • Price$3,250,000
  • Square Footage33,000
  • Acres1.30
  • Year Built1960
  • TypeResidential Income
  • Sub-Type9 or More Units
  • StatusActive
  • Listing OfficeNM Apartment Advisors, Inc.

Community Information

  • Address419 Monroe Street Ne
  • Area40 - UNM
  • SubdivisionHeights Reservoir Add Tr 18
  • CityAlbuquerque
  • CountyBernalillo
  • StateNM
  • Zip Code87108

Amenities

  • UtilitiesAll City

Amenities

Laundry Community, Some Landscaping

Interior

  • AppliancesRefrigerator
  • HeatingCentral Forced Air
  • CoolingEvaporative
  • # of Stories2
  • Stories2 Story

Exterior

  • RoofFlat
  • ConstructionFrame
  • BuilderUNK

Additional Information

  • Date ListedAugust 8th, 2015
  • Days on Market673
  • ZoningR-3
  • Finance ConsideredCash To Owner, Conventional

Property Description

Originally built in 1960, many of the one bedroom one bathroom units have the original 60's decor and offer an abundance of storage and natural lighting. Possible interior upgrades include adding dishwashers, garbage disposals and updating surfaces. Possible exterior upgrades include moving to refrigerated package hvac units, solar carports, community gardens, and bike facilities.Based on the ask price of $3,250,000 and an average rent of $608 ($0.99/sf), the property offers a 6.96% Cap rate, 10.76% cash con cash, 18.9% before tax IRR, and a 14.3% after tax IRR. Based on proforma rents of $739, the property could be a 8.95% CAP rate, 20.69% cash on cash, and astronomical IRR.Adjoins recently renovated property that is current collecting rents between $775 to $1,075.


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Some of 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.

Listing information last updated on September 25th, 2017 at 11:28pm MDT.