3609 Wellesley Drive NE, Albuquerque, NM 87107 (MLS# 1099281) -

3609 Wellesley Drive NE, Albuquerque, NM 87107

$641,829

Virtual Tour

http://www.nmapartment.com/well3601b3d

3601-Wellesley-Apt-B-09152025_164054-whi

Property Type: Residential Income Square Footage: 4,194 Lot Size (sq. ft.): 8,638 Status: Active

Current Price: $641,829 List Date: 3/05/2026 Last Modified: 3/05/2026

Overview

Description

Located at 3609 Wellesley NE, this fourplex has large, town house style, two bedroom, one bathroom units with in unit laundry. At the ask price $641,829 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.

Listing Details MLS# 1099281

Contract Information

List Price/SqFt: 153.04

Location

Street #: 3609
Street Name: Wellesley
St Suffix: Drive
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
Zip +4: 6904
MLS Area Major: 41 – Uptown
Zone Atlas: G16

CityCounty Data

Subdivision Name: Indian Mesa

General Property Description

# of Units: 4
5+ Units: No
Property Sub-Type: Four Plex
Living Area: 4194
Lot Size Source: On-Line
Acres: 0.2
Lot SqFt: 8638
Directions: From I-25 and Comanche, est to Wellesley and south to property
Stories: 2
Total Stories in Bldg: 2
Total # of Buildings: Yes
Year Built: 1980
Year Built Source: Public Records
Age: Select One
# Parking Spaces: 6
Accessory Dwelling Unit: No
Disability Access: No
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: One
Flood Zone: X

Cooling

Centrally Ducted: Yes
Evaporative Cooling: Yes

Sales Info

Trade/Xch Considered: No

More Information

# of Unit Types (1)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Style: townhouse
Approx. SqFt: 1049
Actual Rent: 1466
Max Rent: 1466
Market Rent: 1466

# of Unit Types (2)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Style: townhouse
Approx. SqFt: 1049
Actual Rent: 1250
Max Rent: 1250
Market Rent: 1466

# of Unit Types (3)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Style: townhouse
Approx. SqFt: 1049
Actual Rent: 1320
Max Rent: 1320
Market Rent: 1466

# of Unit Types (4)

# of Units: Yes
# of Bedrooms: 2
# Baths: Yes
Style: townhouse
Approx. SqFt: 1049
Actual Rent: 1258
Max Rent: 1258
Market Rent: 1466

Unit Summary

Total Units: 4
Average Unit Size: 1049
Average Actual Rent: 1323.5
Annualized: 63528
Total Actual Rent: 5294

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 101606042121740805

Tax & Legal Info

GRT Code: 02-100
Tax Exemption: No
Tax Annual Amount: 3523.34

Construction Materials

Frame: Yes

Amenities

No Landscaping: Yes

Flooring

Carpet: Yes
Vinyl: Yes

Heating

Central: Yes

Owner Pays

Other – See Remarks: Yes

Tenant Pays

Other – See Remarks: Yes

Income & Expenses

Annual Gross Income: 61312
Operating Expenses: 25559

Build Description

Resale: Yes

Appliances included

Refrigerator: Yes

Utilities

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

Green Energy Generation

None: Yes

Electric Provider

Public Utility: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Parking

1.5 Spaces Per Unit: Yes

Roof

Flat: Yes

Finance Considered

Cash: Yes
Conventional: Yes
FHA: Yes
VA: Yes

Rental Info

Other – See Remarks: Yes

Source

Actual Record: Yes
Owner Provided: Yes

Zoning

R-ML*: Yes

Property Features

Construction Materials: Frame Build Description: Resale Amenities: No Landscaping Appliances included: Refrigerator Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Central Cooling: Evaporative Cooling Flooring: Carpet; Vinyl Green Energy Generation: None Electric Provider: Public Utility Metering: Individual Electric; Individual Gas Owner Pays: Other – See Remarks Tenant Pays: Other – See Remarks Parking: 1.5 Spaces Per Unit Roof: Flat Rental Info: Other – See Remarks Finance Considered: Cash; Conventional; FHA; VA Source: Actual Record; Owner Provided Zoning: R-ML*

Documents

Flyer & APOD ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: March – 05 – 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.