Four-Unit Multifamily
3212 Wellesley Court NE, Albuquerque, NM 87107
For Sale
New
$540,000
All four residences have been updated, with additional work to the roof, fencing, cooling equipment, and water heaters.
Property Size3,300 SF
Price / SF$163.64
Days on Market5
Property Features for 3212 Wellesley Court NE
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Building Details
Year Built
Listing Agency:
LPT Realty
Listed By:
Shane Dolinski · License #dolinskis
(505) 720-3110
Source:
Sandisells
Added: Nov 3
Changed: Nov 6
Last Checked: Nov 6 at 5:38AM
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 LPT Realty
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Investment Insights
Based on property information with market context.
Built in 1973, this Albuquerque multifamily property contains four units. Updates have been completed across all residences, including new luxury vinyl plank flooring and fresh paint in Unit D. Property improvements include new fencing, water heaters, and evaporative coolers. The flat roof section was replaced with TPO in early 2023.
A new furnace was installed in one unit in 2024, and Unit A received a new refrigerator in 2025. The property is located at 3212 Wellesley Court NE in Albuquerque.
A new furnace was installed in one unit in 2024, and Unit A received a new refrigerator in 2025. The property is located at 3212 Wellesley Court NE in Albuquerque.
Key Highlights
- Four‑unit multifamily property built in 1973
- All four residences have been updated
- Flat roof section replaced with TPO in early 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,125
Cap Rate
5.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,500
$602.5K
Cap Rate 7%
$430,357
$430.4K
Cap Rate 9%
$334,722
$334.7K
Market Conditions
NOI Build-Up for 3,300 SF
Gross rent
$45.5K $13.80/SF
− Vacancy
−$2.5K −$0.76/SF
EGI
$43.0K $13.04/SF
− OpEx
−$12.9K −$3.91/SF
NOI
$30.1K $9.13/SF
Area
Albuquerque, NM
Vacancy
5.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$602,500
Cap Rate 7%
$430,357
Cap Rate 9%
$334,722
Alternative Uses
Best Use
Multifamily LT 5
$430.4K
$376.6K – $502.1K
NOI $30,125 @ 7.0% cap · market cap 5.58%
Second Best
Apartment 5plus
$398.2K
$348.4K – $464.6K
NOI $27,874 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$798.3K
$698.6K – $931.4K
NOI $55,884 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,344
Businesses Nearby
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Business Placement
Demographics for 87107, NM
30,340
Population
13,441
Households
2.3
Avg Household Size
44
Median Age
39%
College-Educated
92%
High-School Grad
14.6 sq mi
ZIP Area
2,078
Density / Sq Mi
$59,663
Median Household Income
$36,392
Median Earnings
$901
Median Rent
$282,000
Median Home Value
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Market
Average Price Trend$/SF for Quadplexes in Albuquerque, NM
Properties on Market for Quadplexes in Albuquerque
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - All four residences have been updated, with additional work to the roof, fencing, cooling equipment, and water heaters.
Where is this quadplex located?
The property is located at 3212 Wellesley Court NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Four‑unit multifamily property built in 1973; All four residences have been updated; Flat roof section replaced with TPO in early 2023
