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
- 285 days |
- 112 |
- 1 |
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: 285 days
- Listing terms: Conventional
- Total actual rent: 23492
- Tenant pays: Other, See Remarks
Estimated market value
Not available
Estimated sales range
Not available
$2,114/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
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: Alta Monte
Nearby schools
GreatSchools rating
- 4/10Montezuma Elementary SchoolGrades: PK-5Distance: 1.4 mi
- 4/10Mc Kinley Middle SchoolGrades: 6-8Distance: 0.8 mi
- 2/10Del Norte High SchoolGrades: 9-12Distance: 1.5 mi
- $---- bd1 ba-- sqft3601 Wellesley Dr NE APT 2, Albuquerque, NM 87107Off Market
- $---- bd1 ba-- sqft3601 Wellesley Dr NE APT 3, Albuquerque, NM 87107Off Market
- $308,4001 bd1 ba-- sqft3601 Wellesley Dr NE APT 9, Albuquerque, NM 87107Off Market
- $--1 bd1 ba-- sqft3601 Wellesley Dr NE APT 11, Albuquerque, NM 87107Off Market
- $255,4001 bd1 ba525 sqft3601 Wellesley Dr NE APT 5, Albuquerque, NM 87107Off Market
- $1,4502 bd1 ba-- sqft3601 Wellesley Dr NE APT 1, Albuquerque, NM 87107For Rent
- $--1 bd1 ba-- sqft3601 Wellesley Dr NE APT 10, Albuquerque, NM 87107Off Market
- $255,4001 bd1 ba525 sqft3601 Wellesley Dr NE APT 6, Albuquerque, NM 87107Off Market
A local agent can set up tours, give advice and negotiate with sellers.
Similar homes
- $2,323,2323 bd2 ba14k sqft433 Mesilla St SE #437, Albuquerque, NM 87108For Sale
MLS ID #1105475, Todd D Clarke, NM Apartment Advisors, Inc.. SWMLS - $1,793,4343 bd2 ba16k sqft8600 Zuni Rd SE, Albuquerque, NM 87108For Sale
MLS ID #1104629, Todd D Clarke, NM Apartment Advisors, Inc.. SWMLS - $1,660,4703 bd3 ba8.3k sqft1024 Alvarado Dr SE Unit 6, Albuquerque, NM 87108For Sale
MLS ID #1104005, Luke Scarpa, NAI SunVista Commercial RE. SWMLS - $2,750,0003 bd4 ba7.5k sqft6301 Coors Blvd NW, Albuquerque, NM 87120For Sale
MLS ID #1071994, Andrea Lugene Swinney, Coldwell Banker Legacy. SWMLS - $3,095,0005 bd8 ba8.7k sqft8504 Snakedance Ct NE, Albuquerque, NM 87111For SaleMLS ID #1106157, Thomas Gallegos, Berkshire Hathaway NM Prop. SWMLS
- $3,375,0004 bd3 ba10k sqft3819-3821 Corrales Rd, Corrales, NM 87048For SaleMLS ID #1092470, Tabitha Sanchez, EXP Realty LLC. SWMLS
- $1,995,0006 bd7 ba12k sqft800 Salida Sandia SW, Albuquerque, NM 87105For SaleMLS ID #1100318, Richard R Gonzales, Oso Elite Realty. SWMLS
- $4,288,0006 bd7 ba8k sqft9400 Elena Dr NE, Albuquerque, NM 87122For SaleMLS ID #1099217, The LUX Real Estate Group, Keller Williams Realty. SWMLS
- $3,950,0005 bd6 ba9.1k sqft235 Kimberly Ln, Tijeras, NM 87059For SaleMLS ID #1099398, Lee A Wilfrid, Mazzola Inc Real Estate & Ren. SWMLS
