About 3601 Wellesley Drive Ne
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.
Features of 3601 Wellesley Drive Ne
| MLS® # | 1092688 |
|---|---|
| Price | $3,015,000 |
| Original Price | $3,015,000 |
| Price Per Sq.Ft. | $211.34 |
| Bedrooms | 3 |
| Bathrooms | 3.00 |
| Square Footage | 14,266 |
| 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 | 343 |
| RE / Bank Owned | No |
| Finance Considered | Conventional |
| Current Taxes | $5,753 |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|