419 Monroe Street NE Albuquerque, NM 87108
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
- Property TypeMulti-Family
- NeighborhoodHeights Reservoir Addition
- CountyBernalillo
- Taxes$21,118
- HOA/Condo/Coop Fees$0
- Days on Site297 Days
- MLS StatusActive
- MLS ID Number1040505
- Home Size Source N/A
- Year Built1960
- Lot Size1.23 Acres
- Full BathsN/A
- Partial BathsN/A
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General Features
- Number of Stories 222
- Acreage 1.23
- Zoning R-MH*
- Property Sub Type Multi Family
- Utilities Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
Interior Features
- Cooling Evaporative Cooling
- Heating CentralForced Air
- Appliances Refrigerator
- Flooring CarpetTileVinyl
Exterior Features
- Exterior Landscaping
Community Features
- MLS Area 40 - UNM