419 Monroe Street Northeast, Albuquerque, NM 87110, USA
1Bed:
1Bath:
33,000 Sq FtLiving Area:
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Price
$ 5,81M
Show
6
more
About This
House
Zia at Nob-Hill's current ownership is on a runway towards achieving a 9.24% 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 (202o), 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 9.24%.CORE AssetMeasures of investment performance at the ask price of$5, 807, 969and current average rents of $885 a month are a GRM of10.94,a 5.92% cap
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The average household income in
Albuquerque, NM
grew
from
$50,456
to
$51,099
in the past year. This data is an estimate based upon
228,491
households in
Albuquerque, NM. The chart below presents how household income is distributed in
Albuquerque, NM
in comparison to the revenue allocation amid households nationally.
Property Taxes
Average range: $2k-$3k
One of the most important aspects for property owners is the amount of property taxes. This graph shows
distribution of property taxes in
Albuquerque, NM
compared to median property taxes around the country. The prevalent amount of property taxes in
Albuquerque, NM
equals
$2k-$3k
, which is
less
than the national average.