3617 Wellesley & 3621 Drive NE

    Albuquerque, NM 87107
    • $820,000
    • STATUS: Active
    • ON SITE: 41 days
    • MLS #: 948775
    UPDATED: 49 min ago
    $820,000
    • 0
      BEDS
    • 0.2
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1980
    County:
    Area:

    School Ratings & Info

    Description

    Built in 1980 and completely renovated in the last couple of years, these all two bedroom large (1,079 sf) two story, town house style apartments are owner occupant quality with numerous upgrades and improvements.Located at 3617 & 3621 Wellesley NE, near Albuquerque's Brewery District and within a 5 mile radius of over 75,000 jobs, this property is well positioned to be close to everything Downtown, UNM, Uptown and North I-25 corridor.Measures of investment performance at ask price of $820,000 and current average rents of $771 are a GRM of 11.08, a 5.59% cap rate, before tax IRR Of 14.90% and an after tax IRR of 11.70%, $102,500 per unit, and $95/sf.If rents were increased to the market average (for large units) of $973, measure of investment performance improve to a cap rate o

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    IDX information © 2019 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2019-08-19T09:05:14.83.
    www.metrohomesearch.com/homes/96631637

    3617 Wellesley & 3621 Drive NE Albuquerque, NM 87107

    • Price: $820,000
    • Status: Active
    • Updated: 49 min ago
    • MLS #: 948775
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.2
    Acres
    1980
    Built
    Neighborhood:
    B Of Indian Acres Sub
    County:
    Bernalillo
    Area:
    41 - Uptown
    Property Description
    Built in 1980 and completely renovated in the last couple of years, these all two bedroom large (1,079 sf) two story, town house style apartments are owner occupant quality with numerous upgrades and improvements.Located at 3617 & 3621 Wellesley NE, near Albuquerque's Brewery District and within a 5 mile radius of over 75,000 jobs, this property is well positioned to be close to everything Downtown, UNM, Uptown and North I-25 corridor.Measures of investment performance at ask price of $820,000 and current average rents of $771 are a GRM of 11.08, a 5.59% cap rate, before tax IRR Of 14.90% and an after tax IRR of 11.70%, $102,500 per unit, and $95/sf.If rents were increased to the market average (for large units) of $973, measure of investment performance improve to a cap rate o
    Exterior Features

    Construction Frame Exterior Material Stucco Stories 2 Total Buildings 2

    Interior Features

    Appliances Included Refrigerator Average Unit Size 1079.00 Basement No Cooling Other - See Remarks Flooring CarpetTile Heating Other - See Remarks Unit Type1 Approx Sq Ft 1079 Unit Type1 Baths 1.50 Unit Type1 Bedrooms 2 Unit Type1 Style Townhouse

    Property Features

    5 Plus Units Yes Age Select One Amenities Fireplace Some UnitsOwners UnitPrivate Patios Apx Taxes 2894.06 Average Actual Rent 771.00 Bank Owned No Builder Pruvis Disability Access Unknown Finance Considered CashConventional Lead Base Paint No Lot Size Source On-Line Owner Occupant Unit Yes Owner Pays Other - See Remarks Property Sub Type 8 Units Rental Info Other - See Remarks Tax Exemption No Tenant Pays Other - See Remarks Total Actual Rent 6168.00 Total Units 8 Trade Exchange Considered No Unit Summary Annualized 74016.00 Unit Type1 Actual Rent 771 Unit Type1 Market Rent 973 Unit Type1 Max Rent 825 Unit Type1 Num Units 8 Utilities Cable AvailableElectricity ConnectedNatural Gas ConnectedPhone ConnectedSewer ConnectedWater Connected Zoning R-Ml*

    Listing courtesy of Nm Apartment Advisors, Inc.. © 2019 Southwest Multiple Listing Service, Inc.
    IDX information © 2019 The Southwest Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed accurate by The Southwest Multiple Listing Service or Campbell & Campbell Real Estate Services. Data last updated: 2019-08-19T09:05:14.83.
     
    Campbell & Campbell Real Estate Services
    6715-B Academy NE
    Albuquerque NM, 87109