Apartment Building Near Employment
New
For Sale
$4,500,000
1325 Wellesley Drive SE, Albuquerque, NM 87106
ResidentialIncome, Albuquerque, NM
Property Size28,600 SF
Lot Size1.53 Acres
Price / SF$157.34
Days on Market4
Property Features for 1325 Wellesley Drive SE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning description
R-ML*
Bedrooms
2
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2
Appliances
Refrigerator
Subdivision
Sunport Lodgings Add
Directions
From I-25 & Gibson, east to Girard, north four blocks, west to property.
Standard status
Active
APN
101605638619040140
Size
28,600 SF
Lot size
1.53 Acres
Taxes and HOA fees
Tax Description
Tract 2-B Sunport Lodgings Addition
Tax Annual Amount
21241
Legal Description
Tract 2-B Sunport Lodgings Addition
Building Details
Year built
1970
Floors in Building
1
Number of units
80
Flooring type
Carpet, Tile, Vinyl
Building materials
Frame
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Added: Oct 4
Last Checked: Oct 7 at 12:06PM
MLS# 1111973
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.
This 28,600-square-foot apartment property occupies 1.53 acres and was built in 1970. Frame construction and carpet, tile, and vinyl flooring are listed among its physical features; a refrigerator is also included. Portions of the property have an affordable housing component that may convey with the sale.
The property is near Kirtland Air Force Base, Sandia National Laboratories, and the Max-Q development, employment anchors associated with defense, technology, engineering, and research. Reported investment metrics include a 7.63 GRM, an 8.35% cap rate, and 9.06% cash-on-cash.
The property is near Kirtland Air Force Base, Sandia National Laboratories, and the Max-Q development, employment anchors associated with defense, technology, engineering, and research. Reported investment metrics include a 7.63 GRM, an 8.35% cap rate, and 9.06% cash-on-cash.
Key Highlights
- 28,600 square feet on 1.53 acres
- Built in 1970 with frame construction
- Near Kirtland Air Force Base, Sandia National Laboratories, and the Max‑Q development
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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Current Use
Location Intelligence
Trade Area within ½ mile
410
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
Check the figures for this property
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 - Kirtland Air Force Base, Sandia National Laboratories, and the Max-Q development are nearby.
Where is this apartment building located?
The property is located at 1325 Wellesley Drive 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: 28,600 square feet on 1.53 acres; Built in 1970 with frame construction; Near Kirtland Air Force Base, Sandia National Laboratories, and the Max‑Q development
