Sunrise Apartments Multifamily Investment
For Sale
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1515 E Scharbauer Street, Hobbs, NM 88240
32-unit multifamily property in Hobbs, NM with strong income.
Property SizeContact for details
Days on Market154
Property Features for 1515 E Scharbauer Street
General Information
Standard status
Active
Class
C
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$335,880
Building Details
Buildings
14
Stories
1
Units
32
Listing Agency:
FOUND REAL ESTATE
(575) 441-3880
Listed By:
Matthew Smith · License #REC-2023-0297
Source:
Crexi
Added: Mar 12
Changed: Aug 8
Last Checked: Aug 11 at 4:51PM
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 FOUND REAL ESTATE
Investment Insights
Based on property information with market context.
Sunrise Apartments is a 32-unit multifamily community located in Hobbs, New Mexico, offering convenient access and visibility near Seminole Highway. The property features strong in-place income and consistent rental demand. The unit mix includes larger floorplans attractive to families and long-term tenants. There are 16 three-bedroom units with market rent around $1,300, 8 two-bedroom units with market rent around $1,200, and 8 one-bedroom units with market rent around $1,100. The gross potential rent is $470,400 annually. The actual rental income in 2025 was $440,880, with an average monthly income of approximately $36,740. The actual economic vacancy was around 6.3%, or $29,520, with a projected vacancy of approximately 7%. Amenities include an on-site leasing office, community swimming pool, and shared laundry facility. Select three-bedroom units include in-unit laundry. The owner pays for water and gas, while tenants pay for electricity. The property is serviced by 7 gas water heaters and has historically maintained stable occupancy with consistent income performance. Sunrise Apartments represents a stabilized multifamily investment opportunity with reliable cash flow in the Hobbs market.
Key Highlights
- Strong in‑place income with $440,880 actual rental income in 2025.
- Desirable unit mix with larger floorplans, including 16 three‑bedroom units.
- Convenient access and visibility near Seminole Highway.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
898
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 32-unit multifamily property in Hobbs, NM with strong income.
Where is this apartment building located?
The property is located at 1515 E Scharbauer Street Hobbs, NM.
What is the asking price?
The asking price for this property is $3,300,000.
What are key features of this property?
This property features: Strong in‑place income with $440,880 actual rental income in 2025.; Desirable unit mix with larger floorplans, including 16 three‑bedroom units.; Convenient access and visibility near Seminole Highway.
