Albuquerque Fourplex with
3609 Wellesley Drive NE Albuquerque, NM 87107
3609 Wellesley Drive NE, Albuquerque, NM, 87107
$641,829
For Sale
$641,829
MULTI_FAMILY - Albuquerque, NM
Property Size4,194 SF
Lot Size0.20 Acres
Price / SF$153.04
Days on Market138
Property Features for 3609 Wellesley Drive NE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Bedrooms
- 8
- Bathrooms
- 4
- Rooms
- Bathroom 3, Bedroom 6, Bedroom 2, Bathroom 1, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 7, Bedroom 4, Bedroom 8
- Parking
- 6
- Appliances
- Refrigerator
- Standard status
- Active
- APN
- 101606042121740805
- Size
- 4,194 SF
- Lot size
- 0.20 Acres
Taxes and HOA fees
- Tax Description
- Lot K1, Block 5, IndianAcres
- Tax Annual Amount
- 3523
Utilities
- Heating system
- Central
Building Details
- Year built
- 1980
- Floors in Building
- 2
- Number of units
- 4
- Flooring type
- Vinyl, Carpet
- Building materials
- Frame
Listing Agency
NM Apartment Advisors, Inc.
(505) 440-8633
524 Central Ave. SW Suite 801, Albuquerque, NM
Listed by
Todd D Clarke · License #13711
(505) 440-8633
Added: Mar 5 Updated: Jul 18 at 3:51 am Checked: Jul 21 at 5:06 am
MLS# 1099281
Listing URL
Copyright © 2026 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.
Investment Insights
Based on property information with market context.
Located at 3609 Wellesley NE in Albuquerque, this fourplex features large, town house style, two-bedroom, one-bathroom units, each equipped with in-unit laundry. The property offers investment potential with current average rents of $1,324 per month. At the asking price of $641,829, investment performance measures include a 10.10 GRM and a 5.73% cap rate before reserves, along with a before-tax IRR of 20.0% and an after-tax IRR of 16.2%. The property size is 4,194 square feet on a lot of 0.2 acres. Should rents increase to the market average of $1,466, the investment performance could improve to a 5.93% cap rate, even with a potential two-fold increase in property taxes, which is not likely to occur until 2027-2028. This property is located in Bernalillo County.
Key Highlights
- Fourplex at 3609 Wellesley NE with townhouse‑style 2‑bedroom, 1‑bath units
- In‑unit laundry included in each unit
- Frame construction with central heating; vinyl and carpet flooring
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $57.9k | $13.80 |
| − Vacancy | −$3.2k | −$0.76 |
| EGI | $54.7k | $13.04 |
| − OpEx | −$16.4k | −$3.91 |
| NOI | $38.3k | $9.13 |
4,194 SF · lease $13.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$546.9K
$478.6K – $638.1K
NOI $38,286 @ 7.0% cap · market cap 5.97%
Second Best
Apartment 5plus
$506.1K
$442.8K – $590.4K
NOI $35,425 @ 7.0% cap · market cap 5.52%
Theoretical Best
Office A
$1.01M
$887.8K – $1.18M
NOI $71,023 @ 7.0% cap · market cap 11.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Fourplex with two-bedroom units and in-unit laundry.
Where is this quadplex located?
The property is located at 3609 Wellesley Drive NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $641,829.
What are key features of this property?
This property features: Fourplex at 3609 Wellesley NE with townhouse‑style 2‑bedroom, 1‑bath units; In‑unit laundry included in each unit; Frame construction with central heating; vinyl and carpet flooring
