1515 E Scharbauer St Hobbs, NM 88240
Property Features for 1515 E Scharbauer St
General Information
- Standard status
- Active
- Lot size
- 8.49 Acres
Source:
Crexi
Listing Agency: FOUND REAL ESTATE Listing Agent: Matthew Smith
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Sunrise Apartments Multifamily Investment Opportunity
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.
Location Intelligence
Current Use by Public Records
Sunrise Homes Apartments
Apartment Building
Location Insight
- Map
- Local Demand
- City
- Hobbs
- County
- Lea
- State
- New Mexico
- Longitude
- -103.1183384
- Latitude
- 32.7067777
Nearby Similar for Sale
FAQs
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 St Hobbs, NM.
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.
