$3,015,000

3601 Wellesley Drive NE, Albuquerque, NM 87107

  • 3 beds |
  • 3 baths |
  • 14,266 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1981
  • Property Lot Size Icon0.78acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $211/sqft
  • Property List Date Icon Listed 7 months ago

Property Description

Located at 3601, 3605 & 3609 Wellesley NE. The portfolio is easily managed from one central location that includes laundry room for the residents use. The property portfolio contains two studio units, thirteen one-bedroom units and six two-bedroom units.The portfolio is offered at the value of recent appraisals and is an amazing opportunity to invest in a growing economy.At the ask price of $2,445,000 and of based on the current average rents of $1,113 per month, the property's measures of investment performance include an 8.72 GRM, 7.39% cap rate before reserves, before tax IRR of 15.8% and an after-tax IRR of 12.97. If rents were raised to market average of $1,291, and even with a potential 3fold increase in property taxes, the measure of investment improve to a cap rate of 7.

Listing Status:
Active
Date Added:
October 9, 2025
Data Last Updated:
May 20, 2026 at 7:17AM
Listing Office:
NM Apartment Advisors, Inc. : (505) 440-8633
Listing Agent:
Todd D Clarke : (505) 440-8633
MLS ID:
1092688
  • Appliances: Refrigerator
  • Flooring: CarpetTileVinyl
  • A/C: Evaporative Cooling
  • Heating: CentralForced Air
  • Disability Feature: None
  • Eco/Green Feature: None
  • General: FrameStucco2
  • Originating MLS: SWMLS_SWMLS
  • County: Bernalillo
  • Zoning: Lots L&MBlock BIndian Mesa Subd& Lot K1Indian Mesa101606041820240804
  • Utilities: Electricity ConnectedNatural Gas ConnectedSewer ConnectedWater Connected
  • Source: SWMLS_SWMLS

This listing courtesy of Todd D Clarke , NM Apartment Advisors, Inc.

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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