3408 Wellesley Drive NE, Albuquerque, NM 87107
$138,000
Property Type:
Residential Income
Square Footage:
1,940
Lot Size (sq. ft.):
7,841
Status:
Closed
Current Price:
$138,000
List Date:
9/14/2016
Last Modified:
2/18/2017
Description
A value add fourplex located in Albuquerque's north east heights. These studio units currently rent for $400 when the market is $517.
Motivated owner gave me direction to get this property sold, priced at $77/sf, $37,500 per unit, 6.0% Cap on actuals, 23.0% IRR before tax, 18.8% IRR after tax.
More Information MLS# 868484
Status Change Info
Pending Date: 2016-10-28
Closing Date: 2016-11-09
Contract Information
Listing Price: 138000
Current Price: $138,000
List Price/SqFt: 71.13
Status: Closed
Allowance/Concession: No
Bank Owned: No
Location
Street #: 3408
Street Name: Wellesley
St Suffix: Drive
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
Zip +4: 6923
Geo Lat: 35.120609
Geo Lon: -106.607107
Area: 41 - Uptown
Zone Atlas: G16
City/County Data
UPC Code: 101606043814940918
Subdivision: B Indian Acres Sub
General Property Description
# of Units: 4
5+ Units: No
Units for Sale: 4
Property Sub-Type: Four Plex
Apx Structured SqFt: 1940
SqFt Source: Broker
Lot Size Source: On-Line
Acres: 0.18
Lot SqFt: 7840.8
Directions: Fro I-40 and I-25, east on I-40 to Carlisle, north to Comanche, west to Wellelsey, south to property.
Stories: 1
Total Stories in Bldg: 1
Total # of Buildings: 1
Year Built: 1978
Age: 41 - 50
# Parking Spaces: 6
Disability Access: Yes
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 1529.14
Tax Exemption: No
Basement
Basement: No
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 4
# Baths: 1
Style: Studio
Approx. SqFt: 485
Actual Rent: 400
Max Rent: 425
Market Rent: 517
Unit Summary
Total Units: 4
Average Unit Size: 485
Average Actual Rent: 400
Annualized: 19200
Total Actual Rent: 1600
Property Features
Construction: Frame
Exterior Material: Wood Siding
Amenities: No Landscaping
Appliances included: Refrigerator
Utilities: All City
Heating: Electric; Perimeter/Baseboard
Cooling: Evaporative Cooling
Flooring: See Remarks
Owner Pays: Maintenance
Tenant Pays: Some Utilities
Rental Info: Other - See Remarks
Finance Considered: Cash; Conventional; VA
Zoning: R-2
Documents
Lead Based Paint ›Listing Office: NM Apartment Advisors, Inc.
Last Updated: February - 18 - 2017
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