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    210 Dunnam St Hobbs, NM 88240

    For Sale
    $1,200,000

    15-Unit Property, High Rental Income

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional 15-unit special purpose property located at 210 W Dunnam Street, Hobbs, NM 88240, presents a compelling investment opportunity. Situated on a substantial 21,000 square foot lot in Lea County, this property boasts an impressive average monthly rental income of $900 per unit. The current owner covers water expenses for all units, minimizing operational costs for the new owner. The property's strong cash flow is further enhanced by the potential for expansion. The existing building offers significant room for additional units on the ground floor, presenting a clear path for future income growth and increased return on investment. This property is priced at $1,200,000 and represents a rare chance to acquire a well-performing multifamily asset in a thriving New Mexico market with significant upside potential. The property's location in Hobbs, NM, offers convenient access to local amenities and services. The substantial lot size provides ample space for future development and expansion, making this an attractive proposition for both seasoned investors and those seeking a stable, income-generating asset with growth potential. This is a turnkey investment ready for immediate income generation and future expansion. The property's strong rental history and potential for added units make it a highly desirable investment opportunity.

    Property Features for 210 Dunnam St

    General Information

    Property type
    Specialty properties

    Building Details

    Units
    15

    HighLights

    • $1,200,000 asking price.
    • Special purpose property.
    • 15 units.
    • 21,000 square foot lot.
    • Located at 210 W Dunnam Street, Hobbs, NM 88240.
    • Average monthly rent of $900 per unit; seller pays water.
    Property Profile Location Intelligence

    Current Use by Public Records

    Frontier Executive Apartment ... Apartment Complex

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hobbs
    County
    Lea
    State
    New Mexico
    Longitude
    -103.1380297
    Latitude
    32.6998721

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    FAQs

    What type of property is this?
    Specialty property - 15-Unit Property, High Rental Income
    Where is this specialty property located?
    The property is located at 210 Dunnam St Hobbs, NM.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: $1,200,000 asking price.; Special purpose property.; 15 units.
    Request Owner's contact information
    210 Dunnam St Hobbs, NM 88240
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    210 Dunnam St Hobbs, NM 88240
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