About This Home

This 8-bedroom, 4-bathroom multi-family at 3609 Wellesley Drive NE in Albuquerque, NM is listed for $550,000 ($131 per sqft). Built in 1980, the home offers 4,194 sqft of living space on a 0.20 acres lot.

Key Features

  • Built in 1980
  • 0.20 acre lot
  • 2 stories
  • 6 parking spaces

Property Details

2 stories
4 full
6 spaces
1980

Amenities

A/C
Listing Description

Located at 3609 Wellesley NE, this fourplex has large, town house style, two bedroom, one bathroom units with fireplaces.At the ask price $550,000 and of based on the current average rents of $1,324 per month, the property's measures of investment performance include a 10,10 GRM, 5.73% cap rate before reserves, before tax IRR of 20.0% and an after-tax IRR of 16.2%.

If rents were raised to market average of $1,466, and even with a potential two-fold increase in property taxes, which likely not occur until 2027-2028, the measures of investment performance improve to a 5.93% cap rate.

Monthly Cost Estimate

$2,942/mo

20% down · 6.5% · 30 years

Principal$398
Interest$2,383
Insurance$160

Estimates only. Actual payments may vary.

Location

3609 Wellesley Drive NE

Albuquerque, NM 87107

Indian Mesa

Property Details

Flooring

CarpetVinyl

Construction

Frame

Heating

Central

Appliances

Refrigerator

Questions & Answers

This 8-bedroom, 4-bathroom multi-family at 3609 Wellesley Drive NE is listed at $550,000 ($131/sqft). The estimated monthly payment is $2,941 based on 20% down, a 30-year loan at 6.5% interest, estimated insurance.

Key features include: Built in 1980, 0.20 acre lot, 2 stories, 6 parking spaces.

This property is listed by Todd D Clarke.

TC

Todd D Clarke

License 13711

Agent at NM Apartment Advisors Inc.

Listed by NM Apartment Advisors Inc. · Broker phone: (505) 440-8633 · View on Broker Site · Broker website

MLS# 1099281· Source: Southwest MLS· 236 days on PropertySimple

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.

3609 Wellesley Drive NE, Albuquerque, NM 87107

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