419 Monroe Street Ne
Albuquerque,
NM
87108
Property Details
List Price: |
$5,807,969 |
Beds: |
1 |
Baths: |
-- |
Status: |
Active |
SqFt: |
33000 |
Agency: |
NM Apartment Advisors Inc. |
Description/Comments
Lot Size: |
1 acre(s) |
Property Type: |
Residential |
Year Built: |
1960 |
Notes: |
Zia at Nob-Hill's current ownership is on a runway towards achieving a 8.15% cap rate with individual unit renovations and higher rents.The owner has done all of the non-sexy capital items including upgrading landscaping (2019), improved the parking lot (2020), installed new gas-lines (2019), a new roof (2019) and a security gate for parking. As units turn-over, the owner has developed a unit upgrade plan allowing them to capture higher rents. This combination makes the property a value add with the potential to renovate units and raise rents to a level closer to the neighboring property creating a potential cap rate of a 8.15%.Property amenities included high speed internet and laundry care facilities. This is a core asset with stabilized cash flows that could also be |
MlsNumber: |
1040505 |
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Listing Provided By: |
NM Apartment Advisors Inc., original listing |
Name: |
NM Apartment Advisors Inc. |
Phone: |
(505) 440-8633 |
Office Name: |
NM Apartment Advisors, Inc. |
Office Phone: |
(505) 440-8633 |
Agent Name: |
Todd Clarke |
Disclaimer: |
Copyright © 2024 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. |