419 Monroe Street NE, Albuquerque NM, 87108
(Active)
$5,807,969
|
1 beds, 1 baths, 33,000 sqft
|
MLS# 1040505
Last Updated: 5/12/2024 3:26 AM
Description for
419 Monroe Street NE
Albuquerque, NM 87108
Zia at Nob-Hill's current ownership is on a runway towards achieving a 8.15% cap rate with individual unit renovations and higher rents.The owner has done all of the non-sexy capital items including upgrading landscaping (2019), improved the parking lot (2020), installed new gas-lines (2019), a new roof (2019) and a security gate for parking. As units turn-over, the owner has developed a unit upgrade plan allowing them to capture higher rents. This combination makes the property a value add with the potential to renovate units and raise rents to a level closer to the neighboring property creating a potential cap rate of a 8.15%.Property amenities included high speed internet and laundry care facilities. This is a core asset with stabilized cash flows that could also be
Price
$5,807,969
Heights Reservoir addition
Bernalillo
1
1
33,000 (approx)
1040505
Active
Description
Zia at Nob-Hill's current ownership is on a runway towards achieving a 8.15% cap rate with individual unit renovations and higher rents.The owner has done all of the non-sexy capital items including upgrading landscaping (2019), improved the parking lot (2020), installed new gas-lines (2019), a new roof (2019) and a security gate for parking. As units turn-over, the owner has developed a unit upgrade plan allowing them to capture higher rents. This combination makes the property a value add with the potential to renovate units and raise rents to a level closer to the neighboring property creating a potential cap rate of a 8.15%.Property amenities included high speed internet and laundry care facilities. This is a core asset with stabilized cash flows that could also be
Listing Information
| Property Type: Multi-Family, 2 Story | ||
| 1 | 1 | |
| 1.23 Acres | 33,000 (approx) | 1960 |
| 2 | Block,Frame | |
Heights Reservoir addition
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Neighborhood
Room Information
Interior Features
Refrigerator
Tile, Vinyl, Carpet
Evaporative
Other,
Forced Air, Central
Exterior / Lot Features
Frame, Block
R-MH*
Driving Directions
From Lomas and Monroe stoplight (and Los Cuates) - due south to property.
Financial Considerations
| 101705738541812504 |
| $21,118 |
Cash, Conventional
Listing Price History
Albuquerque Real Estate
Albuquerque is located in New Mexico. Albuquerque, New Mexico 87108 has a population of 572,777.
The median household income in Albuquerque, New Mexico 87108 is $32,346. The median household income for the surrounding county is $56,090 compared to the national median of $66,222. The median age of people living in Albuquerque 87108 is 38 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
| Street Address | City | Beds | Baths | Sold Price | Sold Date | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| No information is available for recently sold properties within this search. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 3/9/2024 | Active | $5,807,969 USD 8.58% |
|
| 10/7/2023 | Pending | $5,349,113 USD |
|
| 8/27/2023 | Active | $5,349,113 USD |
|