Golf Course-Fronting Apartment
New
For Sale
$4,500,000
1325 Wellesley Dr SE, Albuquerque, NM 87106
The property is near Kirtland Air Force Base and Sandia National Laboratories in Albuquerque.
Property Size28,600 SF
Price / SF$157.34
Days on Market3
Property Features for 1325 Wellesley Dr SE
General Information
Standard status
Active
Size
28,600 SF
Property subtype
Multi-Family
Financials
Asking Price
$4,500,000
Cap Rate
8.35%
Gross Rent Multiplier
7.63
Average Monthly Rent
$615
Building Details
Year Built
1970
Listing Agency:
Keller Williams Realty
(505) 271-8200
Listed By:
Missy Ashcraft
(505) 362-6823
Source:
Missyashcraft
Added: Oct 5
Changed: Oct 6
Last Checked: Oct 6 at 2:45AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This 1970 apartment property at 1325 Wellesley Dr SE in Albuquerque is described as fronting Puerta Del Sol Public golf course. Portions of the property have an affordable housing component that may convey with the sale.
Kirtland Air Force Base, Sandia National Laboratories, and the Max-Q development are identified as nearby employment anchors. The property is marketed with a 7.63 GRM and an 8.35% cap rate.
Kirtland Air Force Base, Sandia National Laboratories, and the Max-Q development are identified as nearby employment anchors. The property is marketed with a 7.63 GRM and an 8.35% cap rate.
Key Highlights
- Golf course frontage at Puerta Del Sol Public golf course
- 7.63 GRM
- 8.35% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$241,575
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,831,500
$4.8M
Cap Rate 7%
$3,451,071
$3.5M
Cap Rate 9%
$2,684,167
$2.7M
Market Conditions
NOI Build-Up for 28,600 SF
Gross rent
$463.3K $16.20/SF
− Vacancy
−$24.1K −$0.84/SF
EGI
$439.2K $15.36/SF
− OpEx
−$197.7K −$6.91/SF
NOI
$241.6K $8.45/SF
Area
Albuquerque, NM
Vacancy
5.20%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,831,500
Cap Rate 7%
$3,451,071
Cap Rate 9%
$2,684,167
Alternative Uses
Best Use
Apartment 5plus
$3.45M
$3.02M – $4.03M
NOI $241,575 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.92M
$6.05M – $8.07M
NOI $484,324 @ 7.0% cap · market cap 10.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
838
Businesses Nearby
Explore this area
Business Placement
Demographics for 87106, NM
26,987
Population
13,893
Households
1.9
Avg Household Size
32
Median Age
53%
College-Educated
91%
High-School Grad
35.8 sq mi
ZIP Area
754
Density / Sq Mi
$51,079
Median Household Income
$29,393
Median Earnings
$904
Median Rent
$332,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - The property is near Kirtland Air Force Base and Sandia National Laboratories in Albuquerque.
Where is this apartment building located?
The property is located at 1325 Wellesley Dr SE Albuquerque, NM.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Golf course frontage at Puerta Del Sol Public golf course; 7.63 GRM; 8.35% cap rate
