419 Monroe Street NE, Albuquerque, NM 87108
$3,495,000
Property Type:
Residential Income
Square Footage:
33,000
Lot Size (sq. ft.):
56,628
Status:
Closed
Current Price:
$3,495,000
List Date:
7/26/2017
Last Modified:
9/13/2018
Description
Based on the ask price of $3,495,000 and an average rent of $618 ($0.95/sf), the property offers a 6.60% Cap rate, 8.98% cash con cash, 17.40% before tax IRR, and a 13.80% after tax IRR. Based on proforma rents of $739, the property could be a 8.57% CAP rate, 17.20% cash on cash, and astronomical IRR.
Adjoining recently renovated property that is current collecting rents between $775 to $1,075.
The high walk score (72) and bike score (79) is reflective of the Nob Hill lifestyle which offers millennials and baby boomers over 80 restaurants, a Sprouts grocery market and easy access to the UNM and CNM campuses.
More Information MLS# 847327
Status Change Info
Pending Date: 2018-05-03
Closing Date: 2018-09-13
Contract Information
Listing Price: 3495000
Current Price: $3,495,000
List Price/SqFt: 105.91
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 419
Street Name: Monroe
St Suffix: Street
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87108
Zip +4: 1258
Geo Lat: 35.084324
Geo Lon: -106.591425
Area: 40 - UNM
Zone Atlas: K17
City/County Data
UPC Code: 101705738541812504
Subdivision: Heights Reservoir Add Tr 18
General Property Description
# of Units: 50
5+ Units: Yes
Units for Sale: 50
Property Sub-Type: 9 or More Units
Apx Structured SqFt: 33000
Lot Size Source: On-Line
Acres: 1.3
Lot SqFt: 56628
Directions: From I-40 east to San Mateo, south to Lomas, west to Monroe, south to property.
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: 7
Year Built: 1960
Year Built Exception: Under Construction
Age: 1 - 3
Disability Access: Unknown
LBP Disclosure: Yes
Builder: UNK
Owner Occupant Unit: No
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 13213.1
Tax Exemption: No
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 50
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 653
Actual Rent: 605
Max Rent: 610
Market Rent: 665
Unit Summary
Total Units: 50
Average Unit Size: 653
Average Actual Rent: 605
Annualized: 363000
Total Actual Rent: 30250
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Laundry Community; Some Landscaping
Appliances included: Refrigerator
Utilities: All City
Heating: Central Forced Air
Cooling: Evaporative Cooling
Flooring: Carpet; Tile
Metering: All Master Metering
Operating Expenses: All; Call Listing Broker
Owner Pays: Electric; Gas; Maintenance; Sewer; Trash Removal; Water
Tenant Pays: None
Roof: Flat
Rental Info: Current Lse Agreemnt
Finance Considered: Cash; Conventional
Zoning: R-3
Documents
Flyer & APOD ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: September - 13 - 2018
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.