Sunport Apartments
1301 Wellesley Dr SE, Albuquerque, NM, 87106
ID 5076c5c0
Overview
Subject: Amazing chance to own golf course frontage community and provide affordable housing - 80 units only $56k per unit and 8.35% cap rate Good Morning!On behalf of the owners, NM Apartment Advisors and Maestas Real Estate Services, we are pleased to bring to market 1301-1325 Wellesley SE, a well-located 80-unit community located in Albuquerque’s Southeast Heights.The property is strategically positioned near two of New Mexico’s largest employment anchors, Kirtland Air Force Base and Sandia National Laboratories, and the Max-Q development providing convenient access to thousands of jobs in defense, technology, engineering and research. The property also benefits from sitting on the eastern edge of the Puerta Del Sol Public golf course. With a start price of $4,500,000 the property is being marketed well below the 2023 appraisal of $5,490,000 using the BID process. With current average rents of $615 per unit, the metrics of investment performance include a 7.63 GRM, 8.35% cap rate, 9.06% cash on cash and an out of the universe IRR. Portions of the property have an affordable housing component, which may convey with the property.The 14-page marketing flyer can be viewed at http://www.nmapartment.com/apt/NMAA-Well1301SE.pdf Property offering timeline:- 10/21/2026 – noon – Wednesday - property tour (RSVP for each person required)- 10/22/2026 – noon – Thursday - offer deadline. Qualified investors can RSVP for the tour and access the confidential document center by completing the online confidentiality agreement at https://redirect.nmapartment.com/sunport . Buyers can determine the Seller’s concession to Buyer that can be used to pay for the Buyers broker by emailing compensation@nmapartment.com with the listing number NMAA-2687325 in the subject line. Do not miss out on this once on a generation opportunity to own a large, golf course fronting and affordable apartment investment.Anita MaestasMaestas Real Estate Services505-463-3565anita@maestasrealty.comAnd Todd Clarke CCIM CIPsCEONM Apartment Advisors Inc.(505) 440-TODD
