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3601 3601-3611 Wellesley NE
Albuquerque, NM 87107
Wellesley 21 · Multifamily Property For Sale
·
21 Units
Executive Summary
Subject: 21 units portfolio in Northeast Heights – 7.38% cap rate
Good morning!
On behalf of the owner, NM Apartment Advisors Inc., is excited to take to market this 21 units portfolio in two parcels centrally located Alta Monte neighborhood.
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 threefold increase in property taxes, which likely not occur until 2027, the measures of investment performance improve to a 7.65% cap rate.
20-page flyer and additional information at http://www.nmapartment.com/apt/NMAA-Well3601NE.pdf
Virtual tour of the one of the one-bedroom units can be viewed at: http://www.nmapartment.com/well3601unit9_3d
Virtual tour of the one of the two-bedroom units can be viewed at: http://www.nmapartment.com/well3601b3d
The fourplex on the north, 3609 Wellesley NE, had townhouse style units and is available separately for $641,829 – 15 page flyer at http://www.nmapartment.com/apt/NMAA-Well3609NE.pdf
Buyer’s can discover, Seller concession to Buyer, which Buyer may use to pay their buyers broker, by emailing compensation@nmapartment.com with NMAA-2587601 in the subject line.
Qualified investors can register for the confidential document center at http://www.nmapartment.com/well3601
Do not wait, apartment investments continue to show strong appreciation coupled with high rent growth potential from all of the new Amazon, Facebook, Intel, and Netflix jobs entering the market.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
Good morning!
On behalf of the owner, NM Apartment Advisors Inc., is excited to take to market this 21 units portfolio in two parcels centrally located Alta Monte neighborhood.
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 threefold increase in property taxes, which likely not occur until 2027, the measures of investment performance improve to a 7.65% cap rate.
20-page flyer and additional information at http://www.nmapartment.com/apt/NMAA-Well3601NE.pdf
Virtual tour of the one of the one-bedroom units can be viewed at: http://www.nmapartment.com/well3601unit9_3d
Virtual tour of the one of the two-bedroom units can be viewed at: http://www.nmapartment.com/well3601b3d
The fourplex on the north, 3609 Wellesley NE, had townhouse style units and is available separately for $641,829 – 15 page flyer at http://www.nmapartment.com/apt/NMAA-Well3609NE.pdf
Buyer’s can discover, Seller concession to Buyer, which Buyer may use to pay their buyers broker, by emailing compensation@nmapartment.com with NMAA-2587601 in the subject line.
Qualified investors can register for the confidential document center at http://www.nmapartment.com/well3601
Do not wait, apartment investments continue to show strong appreciation coupled with high rent growth potential from all of the new Amazon, Facebook, Intel, and Netflix jobs entering the market.
Thanks,
Todd Clarke CCIM CIPs
CEO
NM Apartment Advisors Inc.
(505) 440-TODD
Property Facts
| Price Per Unit | $159,237 CAD | Lot Size | 0.64 AC |
| Sale Type | Investment | Building Size | 14,266 SF |
| Cap Rate | 7.39% | Average Occupancy | 100% |
| Gross Rent Multiplier | 8.72 | No. Stories | 2 |
| No. Units | 21 | Year Built | 1981 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Apartment Style | Garden |
| Price Per Unit | $159,237 CAD |
| Sale Type | Investment |
| Cap Rate | 7.39% |
| Gross Rent Multiplier | 8.72 |
| No. Units | 21 |
| Property Type | Multifamily |
| Apartment Style | Garden |
| Lot Size | 0.64 AC |
| Building Size | 14,266 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1981 |
| Opportunity Zone |
Yes |
Property Taxes
| Parcel Number | 1-016-060-418202-4-08-04 | Improvements Assessment | $140,415 CAD |
| Land Assessment | $53,718 CAD | Total Assessment | $194,133 CAD |
Property Taxes
Parcel Number
1-016-060-418202-4-08-04
Land Assessment
$53,718 CAD
Improvements Assessment
$140,415 CAD
Total Assessment
$194,133 CAD
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