Located at 3609 Wellesley NE, this fourplex has large, town house style, two bedroom, one bathroom units with in unit laundry.At the ask price $641,829 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.
Located at 3601, 3605 & 3611 Wellesley NE, as well as 3611 Tyson 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 ten 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 $3,015,000 and of based on the current average rents of $1,157 per month, the property's measures of investment performance include a 8.68 GRM, 7.26% cap rate before reserves, before tax IRR of 16.1% and an after-tax IRR of 12.9%. If rents were raised to market average of $1,324, and even with a potential 3fold increase in property taxes, cap could be 7.74%
Daria Derebera
Real Estate Broker in Albuquerque, NM
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