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Listed by Found Real Estate
$ 1,200,000
Est. payment /mo
Active
210 W DUNNAM ST Hobbs, NM 88240
0.48 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi-Unit Residential
Listing Status Active
Purchase Type For Sale
MLS Listing ID 20245732
HOA Y/N No
Year Built 1950
Annual Tax Amount $14,953
Lot Size 0.480 Acres
Acres 0.48
Property Sub-Type Multi-Unit Residential
Source NMMLS
Property Description
Dunnam Apartments offers a unique multifamily and value-add opportunity in Hobbs, New Mexico. The property includes 15 existing apartment units along with substantial ground-floor space offering potential for commercial, office, storage, or other permitted uses. The property reported $164,250 in rental income during 2025, providing strong in-place income from the existing multifamily operation. The current rent roll reflects primarily one-bedroom units with rents generally around $900$1,000 per month. The ground floor provides an additional value-add component. A prior residential buildout of portions of this space was started but was not completed or approved for occupancy. The area could be positioned as commercial/flex space. This combination of existing multifamily income and underutilized ground-floor space provides multiple paths for a future owner to increase the property's performance through rent growth, commercial utilization, or other approved repositioning. Located in central Hobbs, Dunnam Apartments provides an opportunity to acquire an established income-producing multifamily property with additional space and meaningful value-add potential.
Location
State NM
County Lea
Exterior
View Y/N false
Private Pool No
Others
Tax ID 4000020180001