4-Unit Quadplex with
For Sale
$550,000
3609 Wellesley Dr NE, Albuquerque, NM 87107
Townhouse-style residences offer two bedrooms, one bathroom, and private laundry within each unit.
Property Size4,194 SF
Price / SF$131.14
Days on Market75
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Property Features for 3609 Wellesley Dr NE
General Information
Standard status
Active
Size
4,194 SF
Property subtype
Multi-Family
Financials
Asking Price
$550,000
Cap Rate
5.73%
Gross Rent Multiplier
10.1
Average Monthly Rent
$1,324
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Amenities
in unit laundry
Building Details
Year Built
1980
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License #13711
(505) 440-8633
Source:
Thesouthwestlife
Added: Aug 2
Changed: Oct 12
Last Checked: Oct 7 at 2:39PM
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 NM Apartment Advisors, Inc.
Investment Insights
Based on property information with market context.
Built in 1980, this 4,194-square-foot quadplex contains four townhouse-style residences. Each unit provides two bedrooms, one bathroom, and in-unit laundry, creating a consistent configuration across the property. The building is located at 3609 Wellesley Dr NE in Albuquerque, New Mexico.
The property is presented as a residential income asset with current investment metrics including a 5.73% cap rate before reserves, a before-tax IRR of 20.0%, and an after-tax IRR of 16.2%. A market-rent scenario indicates a 5.93% cap rate, based on the source assumptions.
The property is presented as a residential income asset with current investment metrics including a 5.73% cap rate before reserves, a before-tax IRR of 20.0%, and an after-tax IRR of 16.2%. A market-rent scenario indicates a 5.93% cap rate, based on the source assumptions.
Key Highlights
- Fourplex with four two‑bedroom, one‑bathroom townhouse‑style units
- 4,194 square feet across the residential income property
- In‑unit laundry provided in each residence
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,286
Cap Rate
6.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$765,720
$765.7K
Cap Rate 7%
$546,943
$546.9K
Cap Rate 9%
$425,400
$425.4K
Market Conditions
NOI Build-Up for 4,194 SF
Gross rent
$57.9K $13.80/SF
− Vacancy
−$3.2K −$0.76/SF
EGI
$54.7K $13.04/SF
− OpEx
−$16.4K −$3.91/SF
NOI
$38.3K $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%
$765,720
Cap Rate 7%
$546,943
Cap Rate 9%
$425,400
Alternative Uses
Best Use
Multifamily LT 5
$546.9K
$478.6K – $638.1K
NOI $38,286 @ 7.0% cap · market cap 6.96%
Second Best
Apartment 5plus
$506.1K
$442.8K – $590.4K
NOI $35,425 @ 7.0% cap · market cap 6.44%
Theoretical Best
Office A
$1.01M
$887.8K – $1.18M
NOI $71,023 @ 7.0% cap · market cap 12.91%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,459
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Townhouse-style residences offer two bedrooms, one bathroom, and private laundry within each unit.
Where is this quadplex located?
The property is located at 3609 Wellesley Dr NE Albuquerque, NM.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Fourplex with four two‑bedroom, one‑bathroom townhouse‑style units; 4,194 square feet across the residential income property; In‑unit laundry provided in each residence
