About 3609 Wellesley Drive Ne
Located at 3609 Wellesley NE, this fourplex has large, town house style, two bedroom, one bathroom units with in unit laundry.At the ask price $550,000 and of based on the current average rents of $1,324 per month, the property's measures of investment performance include a 10,10 GRM, 5.73% cap rate before reserves, before tax IRR of 20.0% and an after-tax IRR of 16.2%. If rents were raised to market average of $1,466, and even with a potential two-fold increase in property taxes, which likely not occur until 2027-2028, the measures of investment performance improve to a 5.93% cap rate.
Features of 3609 Wellesley Drive Ne
| MLS® # | 1099281 |
|---|---|
| Price | $550,000 |
| Original Price | $641,829 |
| Price Per Sq.Ft. | $131.14 |
| Bedrooms | 8 |
| Bathrooms | 4.00 |
| Square Footage | 4,194 |
| Acres | 0.20 |
| Year Built | 1980 |
| Type | Residential Income |
| Sub-Type | Quadruplex |
| Status | Active |
| Is Green | No |
| Guest House | No |
Community Information
| Address | 3609 Wellesley Drive Ne |
|---|---|
| Area | 41 - Uptown |
| Subdivision | Indian Mesa |
| City | Albuquerque |
| County | Bernalillo |
| State | NM |
| Zip Code | 87107 |
Amenities
| Utilities | Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected |
|---|---|
| Is Waterfront | No |
| Has Pool | No |
Interior
| Interior | Carpet, Vinyl |
|---|---|
| Appliances | Refrigerator |
| Heating | Central |
| Cooling | Evaporative Cooling |
| Fireplace | No |
| # of Stories | 2 |
| Stories | Two |
Exterior
| Construction | Frame |
|---|---|
| Builder | Unknown |
Additional Information
| Date Listed | March 5th, 2026 |
|---|---|
| Days on Market | 183 |
| RE / Bank Owned | No |
| Finance Considered | Cash, Conventional, FHA, VA Loan |
| Current Taxes | $3,523 |
Listing Details
| Office | NM Apartment Advisors, Inc. |
|---|