3601 Wellesley Dr NE, Albuquerque, NM 87107
- Beds
- 3
- Baths
- 3
- Sqft
- 14,266
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Overview
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.
Location
Full feature list
Basic info
- Property type
- Multi-family
- Number of stories
- 2
- Number of bedrooms
- 3
- Number of bathrooms
- 3
- Square feet
- 14,266
- Lot size (acres)
- 0.78
- Year built
- 1981
Utilities
- Heating
- Forced Air, Central
- Cooling
- Evaporative Cooling
Taxes
- Tax Annual Amount
- $5,752.60
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: Southwest MLS (Greater Albuquerque Association of REALTORS) MLS®#: 1092688 Last checked: …

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