2315 Jefferson StHobbs, NM 88240

Property Details for 2315 Jefferson St

Year built

1979

Lot size

0.45 AC

Property size (Sq ft)

6,330 SF

Property type

Apartment buildings

Description

This exceptional 12-unit apartment building, located at 2315 N Jefferson St in Hobbs, New Mexico, presents a compelling value-add investment opportunity. The property, built in 1979, comprises three single-story buildings totaling 6,330 square feet on a 0.45-acre lot. Currently boasting a 6.56% cap rate and a NOI of $55,072, a pro-forma analysis projects an 8.80% cap rate and a NOI of $73,068 with potential rent increases. The asking price is $840,000, translating to $70,000 per unit and $132.70 per square foot. The property is zoned R-3 and features twelve units. Financial projections suggest a strong return on investment, particularly with potential renovations and increased rental income. The property is situated in a rapidly growing area of New Mexico, close to major employers and retail amenities. The seller prefers not to disturb current residents and encourages offers subject to inspections. This presents a rare chance to acquire a well-positioned multifamily asset in a thriving market with significant upside potential. The Lea County property has an APN of 4003688001. Comparable sales suggest an as-is value of $941,638.

Location Insight

City

Hobbs

County

Lea

State

New Mexico

Latitude

32.7264

Longitude

-103.123

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].