3601 Wellesley Drive NE, Albuquerque, NM 87107
- $3,015,000
- 3
- BD
- 3
- BA
- 14,266
- SqFt
- List Price
- $3,015,000
- MLS#
- 1092688
- Property Type
- Multifamily
- Bedrooms
- 3
- Bathrooms
- 3
- Sqft. of Residence
- 14,266
- Lot Size
- 33,977
- Region
- Uptown
- Status
- ACTIVE
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.
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Additional Information
- County
- Bernalillo
- Subdivison
- Indian Mesa
- Acres
- 0.78
- Appliances
- Refrigerator
- Construction
- Frame, Stucco
- Cooling
- Evaporative Cooling
- Flooring
- Carpet, Tile, Vinyl
- Heating
- Central, Forced Air
- Owner Pays
- Other, See Remarks
- Utilities
- Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
- Zoning
- R-ML*
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Listing courtesy of Todd D Clarke from NM Apartment Advisors, Inc.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers’ personal, non-commerical use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.