3609 Wellesley Drive NE
Property Description
Located at 3609 Wellesley NE, this fourplex has large, town house style, two bedroom, one bathroom units with fireplaces. At the ask price $550,000 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.Broker Details
NM Apartment Advisors Inc. 505-440-8633
MLS ID: clarkeda State License Number: 13711
Key Property Information
| Listing Status: | Pending Sale |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $550,000 |
| No. of Units: | 4 |
| Year Built: | 1980 |
| Opportunity Zone: | No |
| Price per unit: | $137,500 |
| Property Website | Click Here |
| Number of Bedrooms: | 24 |
| Number of Bathrooms: | 0 |
ID: 3yd-GAARNM-1099281
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