41 Unit Apartment Complex For Sale

Withdrawn Multi-Family for Sale
Catylist Listing ID: 28856745
Property Subtypes: Low-Rise/Garden
Number of Units: 41 Units
Building Size (RSF): 20,638 SF
Gross Building Area: See Agent
Sale Price: $1,490,000
Unit Price: $36,341.46 Per Unit
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Withdrawn On: 10/26/2017
Last Updated: 10/26/2017

Overview / Comments

Property Features
• Number of Units: 41
• Price per unit: $36,341
• Land Size: .60 Acres
• Zoning: Commercial
• Centrally located in Hobbs
• Cash on cash return: 12.57%
• Total return on investment: 21.04%

• Plenty of accessible parking
• Large laundry room
• Units: 38 Studio Units / 1 Bedroom &
1 Bath / 1 Mobile Home / 1 Warehouse

Regional Information
Lea County is the fastest growing county in New Mexico. Hobbs is the principal city in Lea County located along the Texas/New Mexico state border. According to Forbes Magazine, Hobbs N.M. was the eighth-fastest-growing “micropolitan area” in the county from mid-2012 to mid-2013. The local economy has expanded due in part to advances in Hydro Fracking and Horizontal Drilling; Hobbs sits on some of the richest oil deposits within the Permian Basin and has also become an EnergyPlex welcoming all types of energy
development from algae, wind and solar to the uranium enrichment facility that will supply 50% of the nation’s enriched uranium needs when completed. World-class potash has recently been discovered in the area as well; a fully operational mine is anticipated to open by 2015 and has the potential to be
mined for 75 years.

Additional Details

Nearest MSA: Hobbs
County: Lea

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 15,271 33,667 38,977
Median Age: 30.64 31.19 31.83
Households: 5,260 11,929 13,776


Photograph of Listing Agent

William C Shattuck

NAI 1st Valley Realty
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