3617 Wellesley & 3621 Drive Ne, Albuquerque, 87107



Todd D Clarke
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Built in 1980 and completely renovated in the last couple of years, these all two bedroom large (1,079 sf) two story, town house style apartments are owner occupant quality with numerous upgrades and improvements.Located at 3617 & 3621 Wellesley NE, near Albuquerque's Brewery District and within a 5 mile radius of over 75,000 jobs, this property is well positioned to be close to everything Downtown, UNM, Uptown and North I-25 corridor.Measures of investment performance at ask price of $820,000 and current average rents of $771 are a GRM of 11.08, a 5.59% cap rate, before tax IRR Of 14.90% and an after tax IRR of 11.70%, $102,500 per unit, and $95/sf.If rents were increased to the market average (for large units) of $973, measure of investment performance improve to a cap rate o

Essential Information

MLS® #: 948775
Price: $820,000
Acres: 0.20
Year Built: 1980
Type: Residential Income
Sub-Type: 8 Units
Status: Active

Community Information

Address: 3617 Wellesley & 3621 Drive Ne
Area: 41 - Uptown
Subdivision: B Of Indian Acres Sub
City: Albuquerque
County: Bernalillo
State: NM
Zip Code: 87107


Amenities: Fireplace Some Units, Owners Unit, Private Patios
Utilities: Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected, Water Connected


Appliances: Refrigerator
Heating: Other - See Remarks
Cooling: Other - See Remarks
# of Stories: 2
Stories: 2 Story


Construction: Frame

Additional Information

Date Listed: July 8th, 2019
Days on Market: 41
Zoning: R-ML*

Listing Details

Listing Agent: Todd Clarke
Listing Office: NM Apartment Advisors, Inc.
Office Phone: (505) 440-8633

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Listing information last updated on August 19th, 2019 at 5:11pm MDT.