About 3601 Wellesley Drive Ne
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%
Features of 3601 Wellesley Drive Ne
| MLS® # | 1092688 |
|---|---|
| Price | $3,015,000 |
| Original Price | $3,015,000 |
| Price Per Sq.Ft. | $170.51 |
| Bathrooms | 1.00 |
| Square Footage | 17,682 |
| Acres | 0.78 |
| Year Built | 1981 |
| Type | Residential Income |
| Sub-Type | Multi Family |
| Status | Active |
| Is Green | No |
| Guest House | No |
Community Information
| Address | 3601 Wellesley Drive Ne |
|---|---|
| Area | 41 - Uptown |
| Subdivision | Indian Mesa |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87107 |
Amenities
| Utilities | Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Carpet, Tile, Vinyl |
|---|---|
| Appliances | Refrigerator |
| Heating | Central, Forced Air |
| Cooling | Evaporative Cooling |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Construction | Frame, Stucco |
|---|---|
| Builder | Purvis |
Additional Information
| Date Listed | October 9th, 2025 |
|---|---|
| Days on Market | 2 |
| RE / Bank Owned | No |
| Finance Considered | Conventional |
| Current Taxes | $5,753 |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|