3420 Wellesley Drive NE, Albuquerque, NM 87107
$280,000
Property Type:
Residential Income
Square Footage:
2,881
Lot Size (sq. ft.):
8,102
Status:
Closed
Current Price:
$280,000
List Date:
4/22/2021
Last Modified:
5/18/2021
Description
Great Investment Opportunity, Great location for this one story 4 plex. Property features brand new roof. All units have desired front courtyards & washer/dryer hook-ups. Property consists of 1 each 1 bedroom unit & 3 each 2 bedroom units. Unit 2 has new flooring, & new paint. Unit 3 has new paint/carpet & Unit 4 new paint. Rents are increasing in the area and there is a nice upside on these units. Easy to rent. 2020 cap rate w/property manager was 7.2%, estimated 2021 cap rate with property manager to be 9.3% due to increased rents. Annual estimate income for 2021 to be $36,720. Don't miss this great opportunity.
More Information MLS# 990255
Status Change Info
Pending Date: 2021-04-22
Closing Date: 2021-05-17
Contract Information
Listing Price: 280000
Current Price: $280,000
List Price/SqFt: 97.19
Status: Closed
Bank Owned: No
Location
Street #: 3420
Street Name: Wellesley
St Suffix: Drive
Post Direction: NE
County: Bernalillo
City/Town Code: Albuquerque
State/Province: NM
Zip Code: 87107
Zip +4: 6920
Geo Lat: 35.121133
Geo Lon: -106.607121
Area: 41 - Uptown
Zone Atlas: G16
City/County Data
UPC Code: 101606043816740916
General Property Description
# of Units: 4
5+ Units: No
Units for Sale: 4
Property Sub-Type: Four Plex
Apx Structured SqFt: 2881
SqFt Source: Floorplan
Lot Size Source: On-Line
Acres: 0.19
Lot SqFt: 8102.16
Directions: West on Comanche from Carlisle; south on Wellesley to property.
Stories: 1
Total # of Buildings: 1
Year Built: 1984
Age: 31 - 40
# Parking Spaces: 6
Disability Access: No
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Flood Zone: X
Tax & Legal Info
GRT Code: 02-100
Current Taxes: 2551.86
Tax Exemption: No
Basement
Basement: No
Income & Expenses
Annual Gross Income: 30486
Operating Expenses: 10711
Sales Info
Trade/Xch Considered: No
# of Unit Types (1)
# of Units: 1
# of Bedrooms: 1
# Baths: 1
Approx. SqFt: 625
Actual Rent: 575
Max Rent: 695
Market Rent: 685
# of Unit Types (2)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 752
Actual Rent: 630
Max Rent: 800
Market Rent: 795
# of Unit Types (3)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 752
Actual Rent: 800
Max Rent: 800
Market Rent: 795
# of Unit Types (4)
# of Units: 1
# of Bedrooms: 2
# Baths: 1
Approx. SqFt: 725
Actual Rent: 795
Max Rent: 800
Market Rent: 795
Unit Summary
Total Units: 4
Average Unit Size: 713.5
Average Actual Rent: 700
Annualized: 33600
Total Actual Rent: 2800
Property Features
Construction: Frame
Exterior Material: Stucco
Build Description: Resale
Amenities: Ceiling Fan(s); Enclosed Yard; Private Patios; Security Gate; Wshr/Dryr HU in Unit
Appliances included: Blt-In Gas Stve/Oven; Dryer H/U; Fan/Hood; Frestnd Gas Stv/Ovn; Refrigerator; Washer H/U
Utilities: Cable Available; Electricity Connected; Natural Gas Connected; Underground Utilities
Heating: Wall Unit
Cooling: Evaporative Cooling
Flooring: Carpet; Tile; Vinyl
Electric Provider: Public Utility
Electric: None
Metering: Individual Electric; Individual Gas
Operating Expenses: Insurance; Property Taxes; Repairs/Maintenance
Owner Pays: Sewer; Trash Removal; Water; Other - See Remarks
Tenant Pays: Sewer; Trash Removal; Water
Parking: 1.5 Spaces Per Unit
Roof: Pitched; Shingle
Rental Info: Call Listing Broker
Finance Considered: Cash; Conventional
Zoning: R-ML*
Documents
Form 2100 - Broker Duties Supplemental ›Listing Office: RE/MAX SELECT
Last Updated: May - 18 - 2021
The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.