Homes by Carolyn Fischman

419 Monroe Street NE, Albuquerque, NM 87108 (MLS# 847327)

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: 8/08/2015 Last Modified: 9/13/2018

Overview

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.

Listing Details MLS# 847327

Status Change Info

Pending Date
2018-05-03
Closing Date
2018-09-13

Contract Information

List Price/SqFt
105.91
Allowance/Concession
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
MLS Area Major
40 - UNM
Zone Atlas
K17

CityCounty Data

Subdivision Name
Heights Reservoir Add Tr 18

General Property Description

# of Units
50
5+ Units
Yes
Units for Sale
50
Property Sub-Type
Multi-Family
Living Area
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

Basement

Basement
No

More Information

Sales Info

Trade/Xch Considered
No

# of Unit Types (1)

# of Units
50
# of Bedrooms
Yes
# Baths
Yes
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

Currently Not Used

Bank Owned
No

City/County Data

UPC Code
101705738541812504

Tax & Legal Info

GRT Code
02-100
Tax Exemption
No
Tax Annual Amount
13213.1

Construction Materials

Frame
Yes
Stucco
Yes

Amenities

Laundry Community
Yes
Some Landscaping
Yes

Cooling

Evaporative Cooling
Yes

Flooring

Carpet
Yes
Tile
Yes

Heating

Central
Yes
Forced Air
Yes

Owner Pays

Electric
Yes
Gas
Yes
Maintenance
Yes
Sewer
Yes
Trash Removal
Yes
Water
Yes

Tenant Pays

None
Yes

Build Description

Resale
Yes

Appliances included

Refrigerator
Yes

Utilities

All City
Yes

Metering

All Master Metering
Yes

Operating Expenses

All
Yes
Call Listing Broker
Yes

Roof

Flat
Yes

Finance Considered

Cash
Yes
Conventional
Yes

Rental Info

Current Lse Agreemnt
Yes

Zoning

R-3
Yes

Property Features

Construction Materials: Frame; 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
Listing Office: NM Apartment Advisors, Inc.
Last Updated: September - 13 - 2018
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.

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