BEDS3
BATHS
SQUARE FEET14,266
MLS#1092688
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONIndian Mesa
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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Evaporative Cooling
Heating: Central, Forced Air
Lot Size: 0.78 Acres
Stories: 2.0
Taxes: $5,752
Year Built: 1981
Feature Descriptions
Accessibility: None
Appliances: Refrigerator
Days on Site: 191
Exterior: Frame, Stucco
Flooring: Carpet, Tile, Vinyl
Parcel#: 101606041820240804
Units: 21
Utilities: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Listed By / Shown By
Listed By
Agency Name: NM Apartment Advisors, Inc.
Agency Phone: (505) 440-8633
Shown By
Agency Title: Coldwell Banker Legacy
Agency Phone: (505) 892-1000
Estimate Your Payment
Estimated Payment
$ 8,068.79 per month $6,710.08 Principal & Interest $479.33 Property Tax $879.38 Homeowner's InsuranceChange Payment Information
Top REALTORS® in this Area
Casey Landis
From our very first call, Casey Landis impressed us with his in- depth market knowledge and sincere interest in our family's unique needs and timeline. At our first meeting, he presented a thorough market analysis and a well-crafted strategy that clearly stood out from other agents. Relocating across the country complicated our situation, but Casey went above and beyond by managing details, connecting us with trusted resources, and ensuring our home stayed show-ready and secure. His steady communication, expert guidance, and dedication helped ease our stress and resulted in a successful sale that met all our goals. We wholeheartedly recommend Casey to anyone seeking a knowledgeable,
trustworthy, and committed realtor.
— Gregory Howell
— Gregory Howell
Ashly Jaramillo
I had an excellent experience working with Ashly. I would recommend her to anyone that is in the process of buying a home.— Martha Edwards
— Martha Edwards
3601 Wellesley Drive Ne | MLS# 1092688
This multi-family property located at 3601 Wellesley Drive Ne, Albuquerque, NM 87107 is currently listed for sale with an asking price of $3,015,000. Search Albuquerque real estate on www.cblegacy.com today.