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3609-3613 Wellesley Dr NE 4 Unit Apartment Building $874,774 CAD ($218,694 CAD/Unit) 5.73% Cap Rate Albuquerque, NM 87107
Executive Summary
Subject: NE Heights fourplex townhouse style floorplans - $641,829
Good morning!
On behalf of the owner, NM Apartment Advisors Inc., is excited to take to market this fourplex that is part of a larger 25 unit portfolio centrally located Alta Monte neighborhood.
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.
15 page flyer and additional information at http://www.nmapartment.com/apt/NMAA-Well3609NE.pdf
Virtual tour of the unit can be viewed at www.nmapartment.com/well3601b3d
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 fourplex that is part of a larger 25 unit portfolio centrally located Alta Monte neighborhood.
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.
15 page flyer and additional information at http://www.nmapartment.com/apt/NMAA-Well3609NE.pdf
Virtual tour of the unit can be viewed at www.nmapartment.com/well3601b3d
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 | $874,774 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $218,694 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 5.73% | Building Size | 4,194 SF |
| Gross Rent Multiplier | 10.1 | No. Stories | 2 |
| No. Units | 4 | Year Built | 1980 |
| Property Type | Multifamily | Parking Ratio | 3.81/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $874,774 CAD |
| Price Per Unit | $218,694 CAD |
| Sale Type | Investment |
| Cap Rate | 5.73% |
| Gross Rent Multiplier | 10.1 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 4,194 SF |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 3.81/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 8 | - | - |
1 1
Bike Score®
Very Bikeable (72)
Property Taxes
| Parcel Numbers | Improvements Assessment | $157,076 CAD | |
| Land Assessment | $60,090 CAD | Total Assessment | $217,166 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$60,090 CAD
Improvements Assessment
$157,076 CAD
Total Assessment
$217,166 CAD
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3609-3613 Wellesley Dr NE
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