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3609 Wellesley Dr Ne, Albuquerque, NM 87107

$550,000
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List Price
$550,000
MLS#
1099281
Property Type
Multifamily
Lot Size
8,638
Region
Uptown
Status
PENDING
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(505) 428-9547

Property Description

Located at 3609 Wellesley NE, this fourplex has large, town house style, two bedroom, one bathroom units with fireplaces. 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.

(505) 428-9547
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Additional Information

County
Bernalillo
Subdivison
Indian Mesa
Acres
0.20
Appliances
Refrigerator
Cooling
Evaporative Cooling
Flooring
Carpet, Vinyl
Heating
Central
Tenant Pays
See Remarks
Roof
Flat
Utilities
Cable Available, Electricity Available, Natural Gas Available, Sewer Connected, Water Available
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.