3601 Wellesley DR NE, Albuquerque, NM 87107
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3601 Wellesley DR NE, Albuquerque, NM 87107
3601 Wellesley DR NE, Albuquerque, NM 87107
3601 Wellesley DR NE, Albuquerque, NM 87107
3601 Wellesley DR NE, Albuquerque, NM 87107
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Leanna Chavez

Leanna Chavez

+1(505) 507-4898
Listed by NM Apartment Advisors, Inc.
$ 3,015,000
Est. payment /mo
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Active

3601 Wellesley DR NE Albuquerque, NM 87107

3 Beds

3 Baths

14,266 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 14,266 sqft

Price per Sqft $211

Subdivision Indian Mesa

MLS Listing ID 1092688

Bedrooms 3

Construction Status Resale

HOA Y/N No

Year Built 1981

Annual Tax Amount $5,752

Lot Size 0.780 Acres

Acres 0.78

Lot Dimensions Public Records

Property Sub-Type Multi Family

Property 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.

Location

State NM

County Bernalillo

Area 41 - Uptown

Interior

Heating Central, Forced Air

Cooling Evaporative Cooling

Flooring Carpet, Tile, Vinyl

Fireplace No

Appliance Refrigerator

Exterior

Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected

Accessibility None

Building

Story 2

Entry Level Two

Level or Stories Two

New Construction No

Construction Status Resale

Others

Tax ID 101606041820240804

Acceptable Financing Conventional

Green/Energy Cert None

Listing Terms Conventional

Southwest MLS (SWMLS IDX Plus)

Nearby Locations

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3601 Wellesley DR NE