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    3601 Wellesley Dr NE Albuquerque, NM 87107

    For Sale
    $3,015,000

    MULTI_FAMILY - Albuquerque, NM

    Property size:
    17,682 SF
    Lot size:
    0.78 Acres
    Days on Market:
    67
    Last Refresh:
    Dec 14 at 8:06 pm

    Property Features for 3601 Wellesley Dr NE

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bedroom 1, Bedroom 2, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 1
    Bedrooms
    3
    Bathrooms
    1
    APN
    101606041820240804
    Appliances
    Refrigerator
    Size
    17,682 SF
    Lot size
    0.78 Acres

    Utilities

    Heating system
    Forced Air, Central

    Building Details

    Year built
    1981
    Floors in Building
    2
    Number of units
    25
    Flooring type
    Vinyl, Carpet, Tile
    Building materials
    Frame, Stucco

    NM Apartment Advisors Inc. (505) 440-8633 [email protected]

    Listing agent Todd D Clarke (505) 440-8633 License #13711

    Listing date Oct 9, 2025

    Copyright © 2025 Southwest MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Albuquerque Multifamily Investment Opportunity

    This multifamily property portfolio, located at 3601, 3605 & 3611 Wellesley NE, as well as 3611 Tyson NE in Albuquerque, New Mexico, comprises a total of 25 units. The unit mix includes two studio units, thirteen one-bedroom units, and ten two-bedroom units. The property benefits from a central location that facilitates easy management, including an on-site laundry room for resident convenience. Situated on a 0.78-acre lot, the buildings encompass a total of 17,682 square feet. The portfolio is presented at the value of recent appraisals, offering an investment opportunity in a growing economy. Based on the current average rents of $1,157 per month and an asking price of $3,015,000, the property exhibits an 8.68 GRM and a 7.26% cap rate before reserves. The before-tax IRR is 16.1%, and the after-tax IRR is 12.9%. Raising rents to the market average of $1,324 could yield a 7.74% cap rate, even with a potential threefold increase in property taxes.
    Property Profile Location Intelligence

    Current Use by Public Records

    Michael A. Ruelas Musician

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Daycare Center Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Albuquerque
    County
    Sandoval
    State
    New Mexico
    Longitude
    -106.607768
    Latitude
    35.122155

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    FAQs

    What type of property is this?
    Apartment building - Portfolio of 25 units with value-add potential in Albuquerque.
    Where is this apartment building located?
    The property is located at 3601 Wellesley Dr NE Albuquerque, NM.
    What is the asking price?
    The asking price for this property is $3,015,000.
    What are key features of this property?
    This property features: - High investment performance: **7.26% cap rate before reserves**, 16.1% before-tax IRR, and 12.9% after-tax IRR at the asking price.; - Portfolio includes a mix of unit types: two studio units, thirteen one-bedroom units, and ten two-bedroom units.; - Offered at the value of recent appraisals.
    (505) 440-8633
    Request Owner's contact information
    3601 Wellesley Dr NE Albuquerque, NM 87107
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3601 Wellesley Dr NE Albuquerque, NM 87107
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