210 Dunnam St Hobbs, NM 88240
- Specialty properties
Current Use by Public Records
- Frontier Executive Apartment Hobbs / Apartment Complex
Property Details for 210 Dunnam St
- Property type
- Specialty properties
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Hobbs
- County
- Lea
- State
- New Mexico
- Longitude
- -103.138
- Latitude
- 32.6999
