Albuquerque Multifamily Investment
419 Monroe Street NE, Albuquerque, NM 87108
MULTI_FAMILY - Albuquerque, NM
Property size:
33,000 SFLot size:
1.23 AcresPrice / SF:
$161/SF- Added:
- Oct 9, 2025
- Days on Market:
- 237
- Last Refresh:
- Jun 2 at 4:06 am
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
- Forced Air, Central
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
MLS# 1092700
Listing URL
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
- 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.
- Walking distance to Nob Hill's 80+ restaurants.
- Biking distance to the University of NM.
- Located between two major transit corridors.
Overview
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.
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 |
33,000 SF · lease $16.20/SF/yr · vacancy 5.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.98M
$3.48M – $4.65M
NOI $278,740 @ 7.0% cap · market cap 5.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.98M
$6.99M – $9.31M
NOI $558,835 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Albuquerque
- County
- Sandoval
- State
- New Mexico
- Longitude
- -106.59144
- Latitude
- 35.08434
Nearby Similar for Sale
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 Street 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.
