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419 Monroe St NE
Albuquerque, NM 87108
The Zia at Nob Hill · Multifamily Property For Sale
·
50 Units
Executive Summary
CORE Asset
Measures of investment performance at the ask price of $5,317,173 and current average rents of $914 a month are a GRM of 9.69, a 6.63% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 16.8%
And Value Add
The property is currently 20.3% below market rents at the adjoining, siter property and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,338, the metrics of investment performance improve to a cap rate of 11.51% and a cash on cash of 19.20%.
Measures of investment performance at the ask price of $5,317,173 and current average rents of $914 a month are a GRM of 9.69, a 6.63% cap rate, $106,343 per unit, $163/sf, and an after tax internal rate of return is 16.8%
And Value Add
The property is currently 20.3% below market rents at the adjoining, siter property and that does not take into account the double digit annual rent growth the market is enjoying. If the rents are raised to the market of $1,338, the metrics of investment performance improve to a cap rate of 11.51% and a cash on cash of 19.20%.
Property Facts
| Price Per Unit | $103,328 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | C |
| Cap Rate | 6.63% | Lot Size | 1.22 AC |
| Gross Rent Multiplier | 9.69 | Building Size | 50,000 SF |
| No. Units | 50 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 1.54/1,000 SF |
| Zoning | R-MH - Res - Single Family Residential Assumed | ||
| Price Per Unit | $103,328 |
| Sale Type | Investment |
| Cap Rate | 6.63% |
| Gross Rent Multiplier | 9.69 |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.22 AC |
| Building Size | 50,000 SF |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 1.54/1,000 SF |
| Zoning | R-MH - Res - Single Family Residential Assumed |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Tile Floors
- Kitchen
- Walk-In Closets
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Storage Space
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 50 | - | 653 |
Property Taxes
| Parcel Number | 1-017-057-385418-1-25-04 | Improvements Assessment | $431,875 |
| Land Assessment | $110,682 | Total Assessment | $542,557 |
Property Taxes
Parcel Number
1-017-057-385418-1-25-04
Land Assessment
$110,682
Improvements Assessment
$431,875
Total Assessment
$542,557
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