3601 Wellesley Drive
Albuquerque, NM 87107
3
Bed
3
Bath
14,266Sqft
0.78Acre(Lot)
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.
Property Details
Map
Map
What's Nearby
Nearby Areas
Features
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Bedroom Information
Total beds: 3Bathroom Information
Total Baths: 3 -
Flooring Information
Carpet, Tile, Vinyl -
Interior Features
Appliances: Refrigerator -
Heating & Cooling
Has Heating: Yes Heating: Central, Forced Air Has Cooling: Yes Cooling: Evaporative Cooling
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Building Information
Year Built: 1981 Building Area Total: 14266 Construction Materials: Frame, Stucco Stories: 2 Private Pool: No
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Lot Information
Lot Size Acres: 0.78 Lot Size Source: Public Records Lot Size Square Feet: 33977Property Information
Subdivision: Indian Mesa Source Property Type: Residential Income Postal Code Plus 4: 6908 Zoning Description: R-ML* Property SubType: Multi Family Levels: Two Property Age: 45
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Listing Price Information
Listing Price: $3015000 Conventional
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Tax Information
Parcel Number: 101606041820240804 Annual Tax: $5752.6 Tax Legal Desc: Lots L&M, Block B, Indian Mesa Subd, & Lot K1, Indian Mesa
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Utility Information
Natural Gas Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected -
Location Information
Direction: From I-25 and Comanche east to Wellesley, south to property. Note two parcels - 3601-3609 Wellesley NE
How much is this property worth?
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Nearby Home Value
| Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
|---|---|---|---|---|---|
| 3609 Wellesley Drive, Albuquerque, NM, 87107 | $641,829 | 8 | 4 | 4,194 | 4,194 SqFt |
| 3501 NE Wellesley Drive, Albuquerque, NM, 87107 | $510,000 | -- | -- | -- | |
| 3505 Lafayette Drive, Albuquerque, NM, 87107 | $950,000 | 2 | 1 | 9,100 | 9,100 SqFt |
| 325 San Andres Avenue, Albuquerque, NM, 87107 | $559,000 | 7 | 5 | 3,632 | 3,632 SqFt |
| 1237 Menaul Boulevard, Albuquerque, NM, 87107 | $562,500 | 8 | 4 | 3,400 | 3,400 SqFt |
| 1225 Menaul Boulevard, Albuquerque, NM, 87107 | $562,500 | 8 | 4 | -- |
Similar Multifamily To 3601 Wellesley Drive
Nearby For Sale
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ByOwner last updated this listing 06/12/2026 @ 13:49
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