419 Monroe St NE, Albuquerque, NM 87108 Homes for Sale

For Sale

$5,807,969

• 1 beds
• 0 baths
• 33000 Sq Ft

419 Monroe Street NE,
Albuquerque, NM, 87108

Latitude 35.084292 - Longitude -106.591964

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Overview

Listing Status Active

MLS 1040505

Property Type

Single Family

Year built

1960

Total rooms

1

Lot size

1.23 Acres

Time on NeighborWho

273 days

Stories

-

Price per Sq Ft

$176

Parking

0e0 car garage

Basement

-

About 419 Monroe Street NE, Albuquerque, NM

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 Read more

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