3609 Wellesley Drive NE, Albuquerque, NM 87107
- $550,000
- 8
- BD
- 4
- BA
- 4,194
- SqFt
- List Price
- $550,000
- Status
- ACTIVE
- Days on Market
- 146
- Price Change
- ▼ $91,829 1785274081
- MLS#
- 1099281
- Subtype
- Residential Income
- Year Built
- 1980
- Bedrooms
- 8
- Bathrooms
- 4
- Living Area
- 4,194
- Lot Size
- 8,638
- Acres
- 0.20
- Subdivision
- Indian Mesa
- Neighborhood
- Indian Mesa
- MLS Area Major
- Uptown
Property Description
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 $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.
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Additional Information
- Taxes
- $3,523
- Zoning
- R-ML*
- Flooring
- Carpet, Vinyl
- Appliances
- Refrigerator
- Heating
- Central
- Air Conditioning
- Evaporative Cooling
- Exterior Construction
- Frame
- Stories
- 2
- Levels
- Two
Mortgage Calculator
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.