12-Unit Apartment
212 S Shipp Street Hobbs, NM 88240
For Sale
Contact for pricing
Twelve units with 100% occupancy and $96,000 in annual rental income.
Days on Market123
Property Features for 212 S Shipp Street
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Building Details
- Year Built
- 1960
Listing Agency:
FOUND REAL ESTATE
(575) 942-2000
Listed By:
Matthew Smith · License #REC-2023-0297
Source:
Crexi
Added: Mar 26
Changed: Jul 22
Last Checked: Jul 25 at 2:48PM
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.
212 S Shipp Street is a 12-unit multifamily property presented for sale with 100% occupancy. The building is currently fully leased and generating $96,000 in annual rental income, with net operating income of approximately $67,575 (before debt service), based on the property’s reported 2025 financials. In-place rents average approximately $667 per unit, and pro forma projections show projected rents of $900 per unit, with gross potential rent of $129,600 annually and projected NOI ranging from approximately $78,000 to $92,000.
The property is located in Hobbs, New Mexico, where the seller describes demand as driven by the energy sector. Additional reported highlights include a strong foundation of in-place income, owner financing available, and the opportunity reflected through projected rent levels.
The property is located in Hobbs, New Mexico, where the seller describes demand as driven by the energy sector. Additional reported highlights include a strong foundation of in-place income, owner financing available, and the opportunity reflected through projected rent levels.
Key Highlights
- 12‑unit multifamily property (Year Built 1960) in Hobbs, New Mexico
- 100% occupancy with $96,000 in annual rental income (actual 2025)
- Net Operating Income of approximately $67,575 (before debt service)
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Twelve units with 100% occupancy and $96,000 in annual rental income.
Where is this apartment building located?
The property is located at 212 S Shipp Street Hobbs, NM.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: 12‑unit multifamily property (Year Built 1960) in Hobbs, New Mexico; 100% occupancy with $96,000 in annual rental income (actual 2025); Net Operating Income of approximately $67,575 (before debt service)
