3601 Wellesley Drive NE, Albuquerque, NM 87107

$3,015,000

FOTOVAN.com_Drone_(13)Wellesley3601nE_Dr

FOTOVAN.com_Drone_(5)Wellesley3601nE_Dro

3601-Wellesley-Apt-B-09152025_164835-whi

3601-Wellesley-Dr-Unit-9-Dollhouse-View-

3601-Wellesley-Dr-Unit-9-09152025_120705

3601-Wellesley-Dr-Unit-9-09152025_120749

3601-Wellesley-Dr-Unit-9-09152025_120916

3601-Wellesley-Dr-Unit-9-09152025_120932

3601-Wellesley-Dr-Unit-9-09152025_120945

3601-Wellesley-Dr-Unit-9-09152025_120355

Property Type: Residential Income Square Footage: 17,682 Lot Size (sq. ft.): 33,977 Status: Active

Current Price: $3,015,000 List Date: 10/09/2025 Last Modified: 2/17/2026

Overview

Description

Located at 3601, 3605 & 3611 Wellesley NE, as well as 3611 Tyson NE. The portfolio is easily managed from one central location that includes laundry room for the residents use. The property portfolio contains two studio units, thirteen one bedroom units and ten two bedroom units. The portfolio is offered at the value of recent appraisals and is an amazing opportunity to invest in a growing economy. At the ask price $3,015,000 and of based on the current average rents of $1,157 per month, the property's measures of investment performance include a 8.68 GRM, 7.26% cap rate before reserves, before tax IRR of 16.1% and an after-tax IRR of 12.9%. If rents were raised to market average of $1,324, and even with a potential 3fold increase in property taxes, cap could be 7.74%

Listing Details MLS# 1092688

Contract Information

List Price/SqFt: 170.51
Allowance/Concession: No

Location

Street #: 3601
Street Name: Wellesley
St Suffix: Drive
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
Zip +4: 6908
MLS Area Major: 41 - Uptown
Zone Atlas: G16

CityCounty Data

Subdivision Name: Indian Mesa

General Property Description

# of Units: 25
5+ Units: Yes
Units for Sale: 25
Property Sub-Type: Multi-Family
Living Area: 17682
Lot Size Source: On-Line
Acres: 0.78
Lot SqFt: 33977
Directions: From I-25 and Comanche east to Wellesley, south to property. Note three parcels - 3601-3611 Wellesley NE and around the corner at 3611 Tyson NE
Stories: 2
Total Stories in Bldg: 3
Total # of Buildings: 4
Year Built: 1981
Year Built Source: Public Records
Age: 41 - 50
Accessory Dwelling Unit: No
Disability Access: No
LBP Disclosure: No
Builder: Purvis
Owner Occupant Unit: No
Multiple Lots: Three
Flood Zone: X

Cooling

Centrally Ducted: Yes
Evaporative Cooling: Yes

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 2
# Baths: Yes
Approx. SqFt: 400
Actual Rent: 1088
Max Rent: 1140
Market Rent: 1200

# of Unit Types (2)

# of Units: 13
# of Bedrooms: Yes
# Baths: Yes
Approx. SqFt: 650
Actual Rent: 1012
Max Rent: 1231
Market Rent: 1231

# of Unit Types (3)

# of Units: 10
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 843
Actual Rent: 1360
Max Rent: 1466
Market Rent: 1500

Unit Summary

Total Units: 25
Average Unit Size: 707.2
Average Actual Rent: 1157.28
Annualized: 347184
Total Actual Rent: 28932

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101606041820240804

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 5752.6

Construction Materials

Frame: Yes
Stucco: Yes

Amenities

Laundry Equip. Owned: Yes
No Landscaping: Yes

Flooring

Carpet: Yes
Tile: Yes
Vinyl: Yes

Heating

Central: Yes
Forced Air: Yes

Owner Pays

Other - See Remarks: Yes

Tenant Pays

Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 334073

Build Description

Resale: Yes

Appliances included

Refrigerator: Yes

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Miscellaneous Info

No Sign: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Other - See Remarks: Yes

Roof

Flat: Yes

Finance Considered

Conventional: Yes

Rental Info

Other - See Remarks: Yes

Zoning

R-ML*: Yes

Property Features

Construction Materials: Frame; Stucco Build Description: Resale Amenities: Laundry Equip. Owned; No Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central; Forced Air Cooling: Evaporative Cooling Flooring: Carpet; Tile; Vinyl Green Energy Generation: None Electric Provider: Public Utility Miscellaneous Info: No Sign Metering: Individual Electric; Individual Gas Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Roof: Flat Rental Info: Other - See Remarks Finance Considered: Conventional Zoning: R-ML*

Documents

Flyer & APOD ›

LO SO Letter to Buyers, Buyers Broker ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: February - 17 - 2026

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.