3601 Wellesley DR NE new Save Request In-Person Tour Request Virtual Tour
Albuquerque,NM 87107
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 17,682 sqft
Price per Sqft $170
Subdivision Indian Mesa
MLS Listing ID 1092688
Construction Status Resale
HOA Y/N No
Year Built 1981
Annual Tax Amount $5,752
Lot Size 0.780 Acres
Acres 0.78
Lot Dimensions Public Records
Property Sub-Type Multi Family
Property Description
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%
Location
State NM
County Bernalillo
Area 41 - Uptown
Interior
Heating Central, Forced Air
Cooling Evaporative Cooling
Flooring Carpet, Tile, Vinyl
Fireplace No
Appliance Refrigerator
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Accessibility None
Building
Story 3
Entry Level Two
Level or Stories Two
New Construction No
Construction Status Resale
Others
Tax ID 101606041820240804
Acceptable Financing Conventional
Green/Energy Cert None
Listing Terms Conventional