1515 E Scharbauer Street Hobbs, NM 88240
- Added:
- Mar 12, 2026
- Days on Market:
- 21
- Last Refresh:
- Mar 19 at 11:14 pm
Property Features for 1515 E Scharbauer Street
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agent Matthew Smith License #REC-2023-0297
Listing office FOUND REAL ESTATE (575) 942-2000
Listing date Mar 12, 2026
Source Crexi
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
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 Street Hobbs, NM.
What is the asking price?
The asking price for this property is $3,500,000.
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.
