Home / Albuquerque / UNM / Heights Reservoir Addition / MLS #1092700

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419 Monroe Street NE

Albuquerque, NM 87108

$5,317,173

1 bd • 1 ba • 33,000 sqft • 1.23 acres

2 Story

Stories

$161

Per SQFT

1960

Year Built

10/09/2025

Listing Date

1092700

Listing #

87108

Zip Code

About This Property

CORE AssetMeasures of investment performance at the ask price of $5,317,173 and current average rents of $878 a month are a GRM of 8.06, a 6.19% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 17.0%And Value AddThe property is currently 20.3% below market rents and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,100, the metrics of investment performance improve to a cap rate of 8.82% and a cash on cash of 12.17%.This community is located facing Zia park and Zia Elementary school and within walking distance of the Nob Hills 80+ restaurants. The property is also within biking distance of the University of NM and sits between two major transit corridors

Interior

Bathrooms Total: 1

Appliances: Refrigerator

Flooring: Carpet, Tile, Vinyl

Building And Construction

Property Type: Residential Income

Property Sub Type: Multi Family

Building Area Total: 33,000 sqft

Year Built: 1960

Construction Materials: Block, Frame, Stucco

Levels: Two

Number Of Units Total: 50

Stories: 2

Property Condition: Resale

Exterior And Lot

Lot Size Acres: 1.23

Lot Size Square Feet: 53578.8

Exterior Features: Landscaping

Provisional

MLS #: 1092700

Gross Income: 516916

Listing Terms: Cash, Conventional

Number Of Buildings: 12

Operating Expense: 197886

Tenant Pays: Other, See Remarks

Area And Schools

City: Albuquerque

Postal Code: 87108

MLS Area Major: UNM

Subdivision: Heights Reservoir addition

County: Bernalillo

Parcel Number: 101705738541812504

Utilities

Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Cooling: Evaporative Cooling

Heating: Central, Forced Air

Heating (Y/N): Yes

Location

Directions: From Lomas and Monroe stoplight (and Los Cuates) - due south to property.

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Listing courtesy of NM Apartment Advisors, Inc.

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-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.

Daria Derebera

Real Estate Broker in Albuquerque, NM

(505) 521 8550

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