Multifamily Apartment
419 Monroe Street NE Albuquerque, NM 87108
419 Monroe Street NE, Albuquerque, NM, 87108
$5,317,173
For Sale
$5,317,173
MULTI_FAMILY - Albuquerque, NM
Property Size33,000 SF
Lot Size1.23 Acres
Price / SF$161.13
Days on Market282
Property Features for 419 Monroe Street NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 1
- Bathrooms
- 1
- Rooms
- Bathroom 1, Bedroom 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
- Tile, Carpet, Vinyl
- Building materials
- Block, Frame, Stucco
Listing Agency
NM Apartment Advisors, Inc.
(505) 440-8633
524 Central Ave. SW Suite 801, Albuquerque, NM
Listed by
Todd D Clarke · License #13711
(505) 440-8633
Added: Oct 9, 2025 Checked: Jul 17 at 7:06 am
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.
Investment Insights
Based on property information with market context.
This apartment community offers multifamily income potential based on the information provided, including a stated current average rent of $914 per month. The listing materials include investment performance measures at the ask price of $5,317,173, along with unit and per-square-foot figures calculated in the remarks. The property sits on a 1.23-acre lot and totals 33,000 square feet.
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.
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.
Key Highlights
- Year built 1960 with block/frame/stucco construction
- Central forced‑air heating
- Interior finishes include vinyl, tile, and carpet flooring
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Apartment community in Albuquerque with documented income metrics and access to nearby schools and the Nob Hill dining area.
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: Year built 1960 with block/frame/stucco construction; Central forced‑air heating; Interior finishes include vinyl, tile, and carpet flooring
