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 Details
Property Features
Property Information:
Year Built: 1960
Stories: 2
Living Area: 33,000 SqFt
Listing Office:
Office Name: NM Apartment Advisors, Inc.
Office Phone: (505) 440-8633
Listing Agent: Todd D Clarke
Interior Features
Interior Information:
Appliances: Refrigerator
Basement: No
Flooring Type: Carpet, Tile, Vinyl
Bedroom and Bathroom Information:
Total Bedroom Count: 1
Exterior Features
Exterior Information:
Exterior: Landscaping
Lot Features
Lot Information:
Lot Size: 1.23 Acres
Utilities
Utilities Information:
Heating: Central, Forced Air
Cooling: Evaporative Cooling
School Info
Assigned Schools Information:
Highland High School, Public District Grades 9-12
Nex Gen Academy, Public District Grades 9-12
Jefferson Middle School, Public District Grades 6-8
Zia Elementary School, Public District Grades PK-5
Coronado Elementary School, Public District Grades KG-5
Other
Directions Information:
Directions: From Lomas and Monroe stoplight (and Los Cuates) - due south to property.
Price Information
Listing Price Info
Price Summary:
List Price: $5,807,969
Price Per SqFt: $176/SqFt
Tax Information:
Annual Amount: $21,305
Tax Year: 2020
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Housing Market Comparison
See how this home compares to others in Albuquerque, NM.
This property is $5.4M more than the Median Sold Price and $24/SqFt less than other homes in Albuquerque, NM.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: SWMLS
MLS Number: #1040505
Listing Office:
Office Name: NM Apartment Advisors, Inc.
Office Phone: (505) 440-8633
Listing Agent: Todd D Clarke
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
6
/10
Zia Elementary School
440 Jefferson St NE
Distance between this listing and this school0.14 miles
Public District Grades PK-5
6
/10
Coronado Elementary School
601 4th St SW
Distance between this listing and this school3.54 miles
Public District Grades KG-5
Middle School
4
/10
Jefferson Middle School
712 Girard Blvd NE
Distance between this listing and this school1.20 miles
Public District Grades 6-8
High School
3
/10
Highland High School
4700 Coal Ave SE
Distance between this listing and this school0.65 miles
Public District Grades 9-12
8
/10
Nex Gen Academy
5323 Montgomery Blvd NE
Distance between this listing and this school3.38 miles
Public District Grades 9-12
Assigned Schools
6
/10
Zia Elementary School
440 Jefferson St NE
Distance between this listing and this school0.14 miles
Public District Grades PK-5
6
/10
Coronado Elementary School
601 4th St SW
Distance between this listing and this school3.54 miles
Public District Grades KG-5
Nearby Schools
7
/10
Monte Vista Elementary School
3211 Monte Vista Blvd NE
Distance between this listing and this school1.14 miles
Public District Grades KG-5
Assigned Schools
4
/10
Jefferson Middle School
712 Girard Blvd NE
Distance between this listing and this school1.20 miles
Public District Grades 6-8
Nearby Schools
3
/10
Wilson Middle School
1138 Cardenas Dr SE
Distance between this listing and this school1.66 miles
Public District Grades 6-8
3
/10
Van Buren Middle School
700 Louisiana Blvd SE
Distance between this listing and this school1.83 miles
Public District Grades 6-8
Assigned Schools
3
/10
Highland High School
4700 Coal Ave SE
Distance between this listing and this school0.65 miles
Public District Grades 9-12
8
/10
Nex Gen Academy
5323 Montgomery Blvd NE
Distance between this listing and this school3.38 miles
Public District Grades 9-12
Nearby Schools
6
/10
Media Arts Collaborative Charter
4401 Central Ave NE Bldg 2
Distance between this listing and this school0.38 miles
The neighbors living near this home have an average income of $40,347. Residents of Albuquerque, NM typically earn between $35k-100k each year. The most common type of family is single, no kids. The most common level of education of people living in this area is post secondary degree.
By checking this box and submitting your personal information, you agree to our Terms of Use and Privacy Policy. You also expressly consent to having Rocket Homes Real Estate LLC, its Family of Companies, Rocket Homes Network Partners, and potentially our mortgage partners contact you about your inquiry by text message or phone (including automatic telephone dialing system or an artificial or prerecorded voice) to the residential or cellular telephone number you have provided, even if that telephone number is on a corporate, state, or national Do Not Call Registry. You do not have to agree to receive such calls or messages as a condition of getting any services from Rocket Homes Real Estate, LLC or its partners. By communicating with us by phone, you consent to calls being recorded and monitored. You also agree that we can share your personal data and contact information with third parties such as mortgage partners, partner companies, and affiliates, and that these parties may use your personal data and contact information for marketing and analytic purposes, and to improve your experience.
This home is located at 419 Monroe St NE in Albuquerque, NM and zip code 87108 in the Highland Business neighborhood. This 33,000 square foot home, which was built in 1960, sits on a 1.23 acre lot. Features: 1 bedroom, 1 bathroom. It has been listed on Rocket Homes since August 28, 2023 and is currently priced at $5,807,969.
Over 141 listings were sold over their listed price in March 2024 in Albuquerque, NM. In the same period over 217 listings were sold below the listed price and 121 listings were sold for the listed price. Between February 2024 and March 2024, Albuquerque, NM real estate market has seen decrease in the number of listings by 8.3%. In March 2024, listings were on the market for 27 days. During the same period, the median list price in this real estate market was $335,689.
From Rocket Homes Real Estate and based on county public records data.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. 
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