$3,015,000
$211/sqftactive3601 Wellesley Drive NE, Albuquerque, NM 87107
Beds
3
Baths
3
Sqft
14,266
Lot
33,977 sqft
Built
1981
Type
multi family
About This Property
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 & Amenities
Property Details
| MLS # | 1092688 |
| Property Type | multi family |
| Year Built | 1981 |
| Heating | Central,ForcedAir |
| Cooling | EvaporativeCooling |
| Lot Size | 33,977 sqft |
| Property Tax (est.) | $5,753/yr ($479/mo) |
| Price / Sqft | $211 |
| Status | Active |
| Days on Market | 182 |
About North Valley → Full Guide
Price vs. Neighborhood
This home
North Valley median
578% above the North Valley median. Homes here sell in an average of 35 days.
Commute Times
Unm
15 min
Downtown
10 min
Abq Studios
25 min
Sandia Labs
25 min
Kirtland Afb
25 min
Presbyterian
15 min
Intel Rio Rancho
20 min
Nearby Schools
Griegos Elementary
K-5 · APS
Madison Middle School
6-8 · APS
Valley High School
9-12 · APS
Neighborhood Guide
Explore North Valley
Rural & Spacious
Listing courtesy of NM Apartment Advisors, Inc.. © 2026 Southwest Multiple Listing Service, Inc. All rights reserved. Listing data provided by SWMLS IDX. Information deemed reliable but not guaranteed. Equal Housing Opportunity.
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