419 Monroe Street Ne, Albuquerque, NM


Previous Next






Square feet



About 419 Monroe Street Ne

Zia at Nob-Hill's current ownership is on a runway towards achieving a 9.24% 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 (202o), 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 9.24%.CORE AssetMeasures of investment performance at the ask price of $5,349,113 and current average rents of $868 a month are a GRM of 10.27, a 5.75% cap

Features of 419 Monroe Street Ne

MLS® # 1040505
Price $5,349,113
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


Utilities Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Is Waterfront No
Has Pool No


Interior Carpet, Tile, Vinyl
Appliances Refrigerator
Heating Central, Forced Air
Cooling Evaporative Cooling
Fireplace No
# of Stories 2
Stories Two


Exterior Features Landscaping
Construction Frame, Block

Additional Information

Date Listed August 27th, 2023
Days on Market 27
RE / Bank Owned No

Listing Details

OfficeNM Apartment Advisors, Inc.

Listing Map

Request a Showing

Provide a valid email address.
When would you like to view this property?