Marjorie Martin
REALTOR®
BEDS8
BATHS
SQUARE FEET4,194
MLS#1099281
STATUSActive
PROPERTY TYPEMulti Unit - Multiple
SUBDIVISIONIndian Mesa
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 $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.
Property Features
Property Type: Multi Unit - Multiple
Cooling: Evaporative Cooling
Heating: Central
Lot Size: 0.20 Acres
Stories: 2.0
Taxes: $3,523
Year Built: 1980
Feature Descriptions
Accessibility: None
Appliances: Refrigerator
Days on Site: 51
Exterior: Frame
Flooring: Carpet, Vinyl
Parcel#: 101606042121740805
Units: 4
Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Listed By / Shown By
Listed By
Agency Name: NM Apartment Advisors, Inc.
Agency Phone: (505) 440-8633
Shown By
Agent Name: Marjorie Martin
Agent Phone: (505) 301-7215
Agency Title: Coldwell Banker Legacy
Estimate Your Payment
Estimated Payment
$ 1,909.22 per month $1,428.44 Principal & Interest $293.58 Property Tax $187.20 Homeowner's InsuranceChange Payment Information
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3609 Wellesley Drive Ne | MLS# 1099281
This multi-family property located at 3609 Wellesley Drive Ne, Albuquerque, NM 87107 is currently listed for sale with an asking price of $641,829. Search Albuquerque real estate on mmartin.cblegacy.com today.