About 419 Monroe Street Ne
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
Features of 419 Monroe Street Ne
| MLS® # | 1040505 |
|---|---|
| Price | $5,807,969 |
| Bedrooms | 1 |
| Bathrooms | 1.00 |
| Square Footage | 33,000 |
| Acres | 1.23 |
| Year Built | 1960 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
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 | Frame, Stucco, Block |
Additional Information
| Date Listed | August 27th, 2023 |
|---|---|
| Days on Market | 224 |
| RE / Bank Owned | No |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|