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.
For sale
$3,015,000
3601 Wellesley Dr NE, Albuquerque, NM 87107
3beds
3baths
14,266sqft
Multi Family
Built in 1981
-- sqft lot
$-- Zestimate®
$211/sqft
$-- HOA
What's special
- 379 days
- 105
- 4
Zillow last checked:
Listing updated:
Listed by:
Todd D Clarke 505-440-8633,
NM Apartment Advisors, Inc. 505-440-8633
Source: SWMLS,MLS#: 1092688
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 3
Heating
- Central, Forced Air
Cooling
- Evaporative Cooling
Appliances
- Included: Refrigerator
Features
- Flooring: Carpet, Tile, Vinyl
- Has basement: No
Interior area
- Total structure area: 14,266
- Total interior livable area: 14,266 sqft
Property
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
Lot
- Size: 0.78 Acres
Details
- Has additional parcels: Yes
- Parcel number: 101606041820240804
- Zoning description: R-ML*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Frame, Stucco
Condition
- Resale
- New construction: No
- Year built: 1981
Details
- Builder name: Purvis
Utilities & green energy
- Utilities for property: Electricity Connected, Natural Gas Connected, Sewer Connected, Water Connected
Green energy
- Energy generation: None
Community & HOA
Community
- Subdivision: Indian Mesa
Location
- Region: Albuquerque
Financial & listing details
- Price per square foot: $211/sqft
- Tax assessed value: $421,354
- Annual tax amount: $5,752
- Date on market: 10/9/2025
- Cumulative days on market: 379 days
- Listing terms: Conventional
- Total actual rent: 23492
- Tenant pays: Other, See Remarks
Estimated market value
Not available
Estimated sales range
Not available
$2,472/mo
Price history
| Date | Event | Price |
|---|---|---|
| 10/16/2025 | Listing removed | $1,100 |
Source: Zillow Rentals Report a problem | ||
| 10/9/2025 | Listed for sale | $3,015,000$211/sqft |
Source:  SWMLS #1092688 Report a problem | ||
| 9/16/2025 | Listed for rent | $1,100 |
Source: Zillow Rentals Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,934 +3.2% | $140,437 +3% |
| 2024 | $5,753 +1.7% | $136,347 +3% |
| 2023 | $5,657 +107% | $132,376 +3% |
| 2022 | $2,733 +0.5% | $128,520 |
| 2021 | $2,721 -50.7% | $128,520 0% |
| 2020 | $5,514 | $128,554 -0.1% |
| 2019 | -- | $128,620 |
| 2018 | $5,613 +2.4% | $128,620 0% |
| 2017 | $5,480 -1.5% | $128,654 -1.7% |
| 2016 | $5,566 -95.8% | $130,820 -0.6% |
| 2015 | $131,620 +2222.1% | $131,620 -1.4% |
| 2014 | $5,668 | $133,487 -6.4% |
| 2013 | $5,668 | $142,641 |
| 2012 | -- | $142,641 |
| 2011 | -- | $142,641 -25.5% |
| 2010 | -- | $191,389 +39.7% |
| 2009 | -- | $136,968 +3.3% |
| 2008 | -- | $132,645 +3% |
| 2007 | -- | $128,783 +3% |
| 2006 | -- | $125,032 +3% |
| 2005 | -- | $121,391 +3% |
| 2004 | -- | $117,855 |
| 2003 | -- | $117,855 |
| 2002 | -- | $117,855 |
| 2001 | -- | $117,855 -1.6% |
| 2000 | -- | $119,755 |
Find assessor info on the county website
Monthly payment
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Neighborhood: Alta Monte
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