$3,015,000

3601 Wellesley Drive NE, Albuquerque, NM 87107

  • 1 bath |
  • 17,682 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 $171/sqft
  • Property List Date Icon Listed 20 days ago

Property Description

Located at 3601, 3605 & 3611 Wellesley NE, as well as 3611 Tyson 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 ten 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 $3,015,000 and of based on the current average rents of $1,157 per month, the property's measures of investment performance include a 8.68 GRM, 7.26% cap rate before reserves, before tax IRR of 16.1% and an after-tax IRR of 12.9%. If rents were raised to market average of $1,324, and even with a potential 3fold increase in property taxes, cap could be 7.74%

Listing Status:
Active
Date Added:
October 9, 2025 at 05:00AM
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 Mesa & Lot 1Block 1Amended Replat of Torr Addn101606041820240804
  • 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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Location

Schools Nearby

H

Hodgin Elementary School

3801 Morningside Dr NE, Albuquerque, NM, 87110

Grades PK-5

0.48 miles away

M

McKinley Middle School

4500 Comanche Rd NE, Albuquerque, NM, 87110

Grades 6-8

0.76 miles away

D

Del Norte High School

5323 Montgomery Blvd NE, Albuquerque, NM, 87109

Grades 9-12

1.52 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.