12-Unit Apartment
For Sale
Contact for pricing
Pending
2315 N Jefferson Street, Hobbs, NM 88240
For sale 12-unit apartment community in Hobbs, New Mexico, positioned near major employers and retail opportunities.
Property SizeContact for details
Days on Market783
Property Features for 2315 N Jefferson Street
General Information
Standard status
Pending
Property subtype
Multifamily
Investment Type
Stabilized
Additional Details
Cap Rate
6.88%
Multifamily Units
12
Building Details
Year Built
1979
Units
12
Listing Agency:
N.M. Apartments, Inc.
Listed By:
Todd Clarke · License #13711
(505) 440-8633
Source:
Crexi
Added: Jul 19, 2024
Changed: Aug 8
Last Checked: Jul 24 at 5:42AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of N.M. Apartments, Inc.
Investment Insights
Based on property information with market context.
This 12-unit apartment community is offered for sale at 2315 N Jefferson Street in Hobbs, New Mexico. The property is described as a residential income asset within close proximity to major employers and retail opportunities.
The Hobbs area has seen recent investment in expanding local amenities, including the addition of the $62 million, 160,000 square foot CORE Center for Recreation. The seller notes the broader market is underserved for new housing.
As presented in the marketing materials, the property’s investment performance measures are currently calculated using stated average rents and a stated ask price, with additional scenarios discussed for potential rent increases and renovation/rehabilitation financing opportunities.
The Hobbs area has seen recent investment in expanding local amenities, including the addition of the $62 million, 160,000 square foot CORE Center for Recreation. The seller notes the broader market is underserved for new housing.
As presented in the marketing materials, the property’s investment performance measures are currently calculated using stated average rents and a stated ask price, with additional scenarios discussed for potential rent increases and renovation/rehabilitation financing opportunities.
Key Highlights
- 12‑unit apartment community built in 1979 in Hobbs, NM, positioned near major employers and retail opportunities.
- Current average rents are $594/month based on an ask price of $840,000.
- Investment performance metrics include 9.82 GRM and 6.88% cap rate (before reserves, before tax).
Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Explore this area
Business Placement
Demographics for 88240, NM
42,386
Population
16,490
Households
2.6
Avg Household Size
31
Median Age
17%
College-Educated
76%
High-School Grad
600.2 sq mi
ZIP Area
71
Density / Sq Mi
$65,394
Median Household Income
$37,178
Median Earnings
$1,124
Median Rent
$177,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - For sale 12-unit apartment community in Hobbs, New Mexico, positioned near major employers and retail opportunities.
Where is this apartment building located?
The property is located at 2315 N Jefferson Street Hobbs, NM.
What are key features of this property?
This property features: 12‑unit apartment community built in 1979 in Hobbs, NM, positioned near major employers and retail opportunities.; Current average rents are $594/month based on an ask price of $840,000.; Investment performance metrics include 9.82 GRM and 6.88% cap rate (before reserves, before tax).
