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.
For sale
Price cut: $91.8K (7/28)
$550,000
3609 Wellesley Dr NE, Albuquerque, NM 87107
8beds
4baths
4,194sqft
Quadruplex, Multi Family
Built in 1980
-- sqft lot
$-- Zestimate®
$131/sqft
$-- HOA
What's special
Two bedroomOne bathroomIn unit laundry
- 186 days
- 350
- 24
Zillow last checked:
Listing updated:
Listed by:
Todd D Clarke 505-440-8633,
NM Apartment Advisors, Inc. 505-440-8633
Source: SWMLS,MLS#: 1099281
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 8
- Bathrooms: 4
Heating
- Central
Cooling
- Evaporative Cooling
Appliances
- Included: Refrigerator
Features
- Flooring: Carpet, Vinyl
Interior area
- Total structure area: 4,194
- Total interior livable area: 4,194 sqft
Video & virtual tour
Property
Parking
- Total spaces: 6
Accessibility
- Accessibility features: None
Features
- Levels: Two
- Stories: 2
Lot
- Size: 8,712 Square Feet
Details
- Has additional parcels: Yes
- Parcel number: 101606042121740805
- Zoning description: R-ML*
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Quadruplex, Multi Family
Materials
- Frame
Condition
- Resale
- New construction: No
- Year built: 1980
Utilities & green energy
- Utilities for property: Cable Connected, 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: $131/sqft
- Tax assessed value: $250,179
- Annual tax amount: $3,523
- Date on market: 3/5/2026
- Cumulative days on market: 187 days
- Listing terms: Cash,Conventional,FHA,VA Loan
- Total actual rent: 5294
- Tenant pays: Other, See Remarks
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 7/28/2026 | Price change | $550,000-14.3%$131/sqft |
Source:  SWMLS #1099281 Report a problem | ||
| 3/5/2026 | Listed for sale | $641,829$153/sqft |
Source: SWMLS #1099281 Report a problem | ||
| 7/18/2015 | Listing removed | $725 |
Source: Go Section8 Report a problem | ||
| 6/19/2015 | Listed for rent | $725 |
Source: Go Section8 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $3,523 +3.2% | $83,385 +3% |
| 2024 | $3,416 +1.7% | $80,956 +3% |
| 2023 | $3,359 +107% | $78,599 +3% |
| 2022 | $1,623 +3.5% | $76,309 +3% |
| 2021 | $1,568 -49.2% | $74,088 +3% |
| 2020 | $3,085 | $71,930 +3% |
| 2019 | -- | $69,835 |
| 2018 | $2,833 -1.9% | $69,835 +3% |
| 2017 | $2,888 +3.1% | $67,801 +3% |
| 2016 | $2,801 -95.8% | $65,827 -0.9% |
| 2015 | $66,427 +2255% | $66,427 |
| 2014 | $2,821 | $66,427 -0.9% |
| 2013 | $2,821 | $67,027 -25.9% |
| 2012 | -- | $90,502 |
| 2011 | -- | $90,502 |
| 2010 | -- | $90,502 +3% |
| 2009 | -- | $87,866 |
| 2008 | -- | $87,866 |
| 2007 | -- | $87,866 +36.8% |
| 2006 | -- | $64,209 +3% |
| 2005 | -- | $62,339 +3% |
| 2004 | -- | $60,524 +3% |
| 2003 | -- | $58,761 +1.4% |
| 2002 | -- | $57,961 |
| 2001 | -- | $57,961 +18.9% |
| 2000 | -- | $48,762 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
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Neighborhood: Alta Monte
- $226,8002 bd1 ba-- sqft3609 Wellesley Dr NE APT D, Albuquerque, NM 87107Off Market
- $226,8002 bd1 ba-- sqft3609 Wellesley Dr NE APT C, Albuquerque, NM 87107Off Market
- $226,8002 bd1 ba-- sqft3609 Wellesley Dr NE APT B, Albuquerque, NM 87107Off Market
- $226,8002 bd1 ba-- sqft3609 Wellesley Dr NE APT A, Albuquerque, NM 87107Off Market
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