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    419 Monroe St NE Albuquerque, NM 87108

    For Sale
    $5,317,173

    MULTI_FAMILY - Albuquerque, NM

    Property size:
    33,000 SF
    Lot size:
    1.23 Acres
    Days on Market:
    59
    Last Refresh:
    Dec 7 at 10:06 am

    Property Features for 419 Monroe St NE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bedroom 1
    Bedrooms
    1
    Bathrooms
    1
    APN
    101705738541812504
    Exterior features
    Landscaping
    Appliances
    Refrigerator
    Size
    33,000 SF
    Lot size
    1.23 Acres

    Utilities

    Heating system
    Forced Air, Central

    Building Details

    Year built
    1960
    Floors in Building
    2
    Number of units
    50
    Flooring type
    Vinyl, Carpet, Tile
    Building materials
    Block, Frame, Stucco

    NM Apartment Advisors Inc. (505) 440-8633 [email protected]

    Listing agent Todd D Clarke (505) 440-8633 License #13711

    Listing date Oct 10, 2025

    Copyright © 2025 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.

    Overview

    Albuquerque Multifamily Investment Opportunity

    This multifamily property is located in Albuquerque, New Mexico, facing Zia Park and Zia Elementary School. It is within walking distance of Nob Hill's numerous restaurants and biking distance from the University of New Mexico, situated between two major transit corridors. The property is presented as a core asset with potential for value add. Investment performance metrics at the asking price of $5,317,173 and current average rents of $878 per month include a Gross Rent Multiplier (GRM) of 8.06 and a capitalization rate of 6.19%. The price per unit is $106,343, equating to $163 per square foot, with an after-tax internal rate of return of 17.0%. The property is currently 20.3% below market rents. Raising rents to the market rate of $1,100 is projected to improve investment performance to a cap rate of 8.82% and a cash-on-cash return of 12.17%. The property is situated on a 1.23-acre lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.59144
    Latitude
    35.08434

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    FAQs

    What type of property is this?
    Apartment building - Multifamily property near Nob Hill and University of New Mexico.
    Where is this apartment building located?
    The property is located at 419 Monroe St NE Albuquerque, NM.
    What is the asking price?
    The asking price for this property is $5,317,173.
    What are key features of this property?
    This property features: - Value-add opportunity with rents 20.3% below market, offering potential to increase to $1,100/month.; - Attractive investment metrics: 6.19% cap rate at current rents, with potential to increase to 8.82% with market rent adjustments.; - Favorable location facing Zia Park and Zia Elementary School.
    (505) 440-8633
    Request Owner's contact information
    419 Monroe St NE Albuquerque, NM 87108
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    Albuquerque, NM 87108
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    419 Monroe St NE Albuquerque, NM 87108
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