Fourplex with Unit
3609 Wellesley Drive NE, Albuquerque, NM 87107
For Sale
$550,000
Pending
Residential Income, Albuquerque, NM
Property Size4,194 SF
Lot Size0.20 Acres
Days on Market251
Property Features for 3609 Wellesley Drive NE
General Information
Property type
Property subtype
Zoning
Bedrooms
Full bathrooms
Rooms
Parking
Subdivision
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Description
Tax Annual Amount
Legal Description
Amenities
fireplaces
Building Details
Year built
Floors in Building
Number of units
Listing Agency:
NM Apartment Advisors, Inc.
Listed By:
Todd D Clarke · License NM #13711
(505) 440-8633
Added: Mar 5
Changed: Nov 9
Last Checked: Nov 10 at 4:06AM
MLS# 1099281
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.
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Investment Insights
Based on property information with market context.
Built in 1980, this fourplex contains four townhouse-style units, each configured with two bedrooms, one bathroom, and a fireplace. The building totals 4,194 square feet on a 0.2-acre parcel and is zoned R-ML*.
The property is at 3609 Wellesley Drive NE in Albuquerque. Its stated cap rate is 5.73% before reserves.
The property is at 3609 Wellesley Drive NE in Albuquerque. Its stated cap rate is 5.73% before reserves.
Key Highlights
- Four townhouse‑style units, each with two bedrooms, one bathroom, and a fireplace
- 4,194‑square‑foot building on a 0.2‑acre lot
- R‑ML* zoning
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
Who owns this building?
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Open Analytics
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,459
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 - Four townhouse-style residences each offer two bedrooms and one bathroom.
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 $550,000.
What are key features of this property?
This property features: Four townhouse‑style units, each with two bedrooms, one bathroom, and a fireplace; 4,194‑square‑foot building on a 0.2‑acre lot; R‑ML* zoning
