3601 Wellesley Dr NE, Albuquerque, NM, 87107
About This Home
Located at 3601, 3605 & 3609 Wellesley 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 six 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 of $2,445,000 and of based on the current average rents of $1,113 per month, the property's measures of investment performance include an 8.72 GRM, 7.39% cap rate before reserves, before tax IRR of 15.8% and an after-tax IRR of 12.97. If rents were raised to market average of $1,291, and even with a potential 3fold increase in property taxes, the measure of investment improve to a cap rate of 7.
Getting Around
Somewhat Walkable
Some Transit
Very BikeableSchools
Construction
Condition
- Property condition: Resale
- Year built: 1981
Materials
- Construction materials: Frame,Stucco
Other
- Builder name: Purvis
Type & Style
- Home type: MultiFamily
- Property subType: Multi Family
Interior
Appliances
- Appliances included: Refrigerator
Bedrooms & Bathrooms
- Bedrooms: 3
- Bathrooms: 3
Features
- Flooring: Carpet,Tile,Vinyl
Heating & Cooling
- Heating features: Central,Forced Air
- Cooling features: Evaporative Cooling
Interior Area
- Total structure area: 14,266
- Total interior livable area: 14,266 sqft
Property
Accessibility
- Accessibility features: None
Details
- Parcel number: 101606041820240804
- Zoning description: R-ML*
Features
- Levels: Two
- Stories: 2
Lot
- Lot size: 0.78 Acres
Climate Risk is Financial Risk
Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.
Biggest Threats for This Home
- Earthquake
- Inland Flooding
- Winter Weather
- Hail
- Heat Wave
- Lightning
How This Home’s Risks Compare
FEMA Declared Disasters in Bernalillo County and New Mexico
Understanding the Costs
Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.
Estimated Costs Today
| Monthly | Annual | |
|---|---|---|
| Mortgage | $15,245 | $182,940 |
| Home Insurance * | $141 | $1,692 |
| Property Taxes | $2,135 | $25,620 |
| Electricity | $1,014 | $12,171 |
| Total | $18,535 | $222,420 |
Income You'd Need if You Spent...
New Mexico FAIR Plan Programs
How Costs Could Change Over Time
Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.
Comparing Against the Market
Price Per Sq Ft
vs Other Active Listings
Avg $/sqft
vs Homes Sold Last Month
Median $/sqft
Current Market Trends
No market data available for this area
Historicals for This Listing
Zestimate History ($/sqft)
No zestimate history available
Price History
| Date | Event | Price |
|---|---|---|
| 2025-10-16 | Listing removed | $1,100 |
| 2025-10-09 | Listed for sale | $3,015,000 |
| 2025-09-16 | Listed for rent | $1,100 |
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