3601 Wellesley Drive Ne, Albuquerque, NM 87107

Albuquerque
Local realty services provided by:ERA Summit
3601 Wellesley Drive Ne,Albuquerque, NM 87107
$2,445,000
  • 3 Beds
  • 3 Baths
  • 14,266 sq. ft.
  • Multi-family
  • Active
Listed by: todd d clarke
Office: nm apartment advisors, inc.
MLS#:1092688
Source:NM_SWMLS

Price summary

  • Price:$2,445,000
  • Price per sq. ft.:$171.39

About this home

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.

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Home facts

  • Year built:1981
  • Subdivision & Development:Indian Mesa
  • Listing ID #:1092688
  • Added:390 day(s) ago
  • Updated:November 04, 2026 at 04:49 PM

Rooms and interior

  • Bedrooms:3
  • Total bathrooms:3
  • Flooring:Carpet, Tile, Vinyl
  • Kitchen Description:Refrigerator
  • Living area:14,266 sq. ft.

Heating and cooling

  • Cooling:Evaporative Cooling
  • Heating:Central, Forced Air

Structure and exterior

  • Year built:1981
  • Building area:14,266 sq. ft.
  • Lot area:0.78 Acres
  • Construction Materials:Frame, Stucco
  • Levels:2 Story

Utilities

  • Water:Water Connected
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$2,445,000
  • Price per sq. ft.:$171.39
  • Tax amount:$5,753

Features and amenities

  • Appliances:Refrigerator

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