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.

Listing courtesy of NM Apartment Advisors, Inc.



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Data last updated at: 2026-04-22 08:50 AM UTC