$2,323,232
3 bds · 2 ba · 14,688 sqft
433 Mesilla & 437 (4 lots) Street SE, Albuquerque, 87108
3601 Wellesley Drive NE
Albuquerque, NM 87107
$3,015,000
$211/SqFt
3
Beds
3
Baths
14,266
SqFt Home
2
Stories
1981
Year Built
33,977
SqFt Lot
Estimated Mortgage
$15,245/mo
Based on $603K down · 6.5% · 30yr
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… Show more
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 details for 3601 Wellesley Drive NE
Interior
Bedrooms Total:
3
Bathrooms Total:
3
Appliances:
Refrigerator
Flooring:
Carpet, Tile, Vinyl
Exterior and lot
Lot Size Acres:
0.78
Lot Size:
33,977 sqft
Building and construction
Property Type:
Residential Income
Property Sub Type:
Multi Family
Property Sub Type Additional:
Multi Family
Building Area Total:
14,266 sqft
Year Built:
1981
Construction Materials:
Frame, Stucco
New Construction:
No
Builder Name:
Purvis
Levels:
Two
Number Of Units Total:
21
Stories:
2
Property Condition:
Resale
Provisional
MLS #:
1092688
Gross Income:
334073
Listing Terms:
Conventional
Number Of Buildings:
3
Owner Pays:
Other, See Remarks
Tenant Pays:
Other, See Remarks
Total Actual Rent:
23492
Area and schools
City:
Albuquerque
Postal Code:
87107
MLS Area Major:
Uptown
Subdivision:
Indian Mesa
County:
Bernalillo
Parcel Number:
101606041820240804
Utilities
Utilities:
Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Cooling:
Evaporative Cooling
Heating:
Central, Forced Air
Heating (Y/N):
Yes
Listing and financial details
Listing Date:
October 9, 2025
Location
Directions: From I-25 and Comanche east to Wellesley, south to property. Note two parcels - 3601-3609 Wellesley NE
Estimated Mortgage
$15,245/mo
Based on $603K down · 6.5% · 30yr
Homes for sale similar to 3601 Wellesley Drive NE
3601 Wellesley Drive NE, Albuquerque, NM 87107 listed as MLS #1092688.
This 3 bedroom 14,266 sqft Multi Family built in 1981
located in Indian Mesa, Albuquerque NM 87107.
3601 Wellesley Drive NE is listed for $3,015,000 as MLS #1092688 courtesy of NM Apartment Advisors, Inc. Todd D Clarke.
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-commercial use and may not be used for any purpose other than identifying properties
which consumers may be interested in purchasing.
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