419 Monroe Street NE, Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
- Added:
- Oct 9, 2025
- Days on Market:
- 262
- Last Refresh:
- Jun 27 at 3:06 pm
Property Features for 419 Monroe Street NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 1
- Bathrooms
- 1
- Rooms
- Bedroom 1, Bathroom 1
- Exterior features
- Landscaping
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 101705738541812504
- Size
- 33,000 SF
- Lot size
- 1.23 Acres
Taxes and HOA fees
- Tax Description
- Northly 175 feet of Easterly 305' of Tract 18,. Heights Reservoir addition
- Tax Annual Amount
- 22224
Utilities
- Heating system
- Central, Forced Air
Building Details
- Year built
- 1960
- Floors in Building
- 2
- Number of units
- 50
- Flooring type
- Vinyl, Tile, Carpet
- Building materials
- Block, Frame, Stucco
Listing agent Todd D Clarke License #13711 (505) 440-8633
Listing office NM Apartment Advisors, Inc. 524 Central Ave. SW Suite 801, Albuquerque, NM (505) 440-8633
Listing date Oct 9, 2025
Copyright © 2026 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Year built 1960 with block/frame/stucco construction
- Central forced‑air heating
- Interior finishes include vinyl, tile, and carpet flooring
- Includes a refrigerator appliance
- Investment metrics cited: GRM 9.69 and 6.63% cap rate with current average rents of $914/month
- Location described as facing Zia Park and Zia Elementary School, with Nob Hill 80+ restaurants within walking distance and University of NM within biking distance
Overview
The community is located facing Zia Park and Zia Elementary School. It is described as within walking distance of the Nob Hill 80+ restaurant area and within biking distance of the University of New Mexico. The address is 419 Monroe Street NE, Albuquerque, NM 87108.
For buyers and operators evaluating income-oriented multifamily assets, the materials present a comparison to adjoining siter property rents and discuss how shifting rents toward a stated market level could change the cited cap rate and cash-on-cash metrics. Prospective purchasers should review the rent roll and underwriting assumptions directly, as the performance figures and market comparisons are specific to the numbers included in the listing remarks.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $534.6k | $16.20 |
| − Vacancy | −$27.8k | −$0.84 |
| EGI | $506.8k | $15.36 |
| − OpEx | −$228.1k | −$6.91 |
| NOI | $278.7k | $8.45 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Sandoval
- State
- New Mexico
- Longitude
- -106.59144
- Latitude
- 35.08434
