About 419 Monroe Street Ne
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 of 419 Monroe Street Ne
| MLS® # | 1092700 |
|---|---|
| Price | $5,317,173 |
| Original Price | $5,317,173 |
| Price Per Sq.Ft. | $161.13 |
| Bedrooms | 1 |
| Bathrooms | 1.00 |
| Square Footage | 33,000 |
| Acres | 1.23 |
| Year Built | 1960 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
| Is Green | No |
| Guest House | No |
Community Information
| Address | 419 Monroe Street Ne |
|---|---|
| Area | 40 - UNM |
| Subdivision | Heights Reservoir addition |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87108 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Carpet, Tile, Vinyl |
|---|---|
| Appliances | Refrigerator |
| Heating | Central, Forced Air |
| Cooling | Evaporative Cooling |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Exterior Features | Landscaping |
|---|---|
| Construction | Block, Frame, Stucco |
| Builder | Unknown |
Additional Information
| Date Listed | October 9th, 2025 |
|---|---|
| Days on Market | 2 |
| RE / Bank Owned | No |
| Finance Considered | Cash, Conventional |
| Current Taxes | $22,224 |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|