3601 Wellesley Drive Ne Albuquerque, NM 87107

25 Units
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$3,015,000 Est. $11,102 / mo.*
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Property Type: Multifamily
Status: Active
Year Built: 1981
Neighborhood: Indian Mesa

Courtesy of NM Apartment Advisors, Inc..

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%

Open House

Property Details and Features

  • Refrigerator
  • 1 total bathroom
  • Built in 1981
  • Living area: 17682.0
  • 4 buildings
  • 3 stories
  • Levels: Two
  • Construction Materials: Frame, Stucco
  • EvaporativeCooling
  • Ranm2100Disclosure
  • None
  • Energy Generation: None
  • Carpet
  • Tile
  • Vinyl
  • Central
  • ForcedAir
  • Gross Income: $334,073
  • Listing ID: 1092688
  • Standard Status: Active
  • MLS Status: Active
  • Property Subtype: MultiFamily
  • On market as of 2025-10-09
  • Subdivision: Indian Mesa
  • MLS Area (Major): 41 - Uptown
  • County/Parish: Bernalillo
  • 0.78 acres
  • SeeRemarks
  • Resale
  • Additional parcels description:
  • Parcel Number: 101606041820240804
  • Annual Amount: $5,752.6
  • Legal Description: Lots L&M, Block B, Indian Mesa Subd, & Lot K1, Indian Mesa & Lot 1, Block 1, Amended Replat of Torr Addn
  • Zoning description: R-ML*
  • SeeRemarks
  • ElectricityConnected
  • NaturalGasConnected
  • SewerConnected
  • WaterConnected

Location

$3,015,000 - 3601 Wellesley Drive Ne, Albuquerque, NM 87107
3601 Wellesley Drive Ne Albuquerque, NM 87107
Subdivision: Indian Mesa

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