3601 Wellesley Drive Ne Albuquerque, NM 87107

21 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
Days on Website: 182

Courtesy of NM Apartment Advisors, Inc..

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.

Open House

Property Details and Features

  • Refrigerator
  • 3 total bathrooms
  • 3 total bedrooms
  • Built in 1981
  • Living area: 14266.0
  • 3 buildings
  • 2 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
  • 182 days on market
  • 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
  • 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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