1515 E Scharbauer Street, Hobbs, NM 88240

Hobbs
Local realty services provided by:Better Homes and Gardens Real Estate Blu Realty
1515 E Scharbauer Street,Hobbs, NM 88240
$3,500,000
  • 6 Beds
  • 4 Baths
  • - sq. ft.
  • Multi-family
  • Active
Listed by: matthew smith
Office: found real estate
MLS#:20261476
Source:NM_RANM

Price summary

  • Price:$3,500,000

About this home

Sunrise Apartments | 32-Unit Multifamily Investment | Hobbs, NM Sunrise Apartments is a 32-unit multifamily community located at 1515 E. Scharbauer in Hobbs, New Mexico, with convenient access and visibility near Seminole Highway, one of the area’s primary corridors. The property offers strong in-place income, a desirable unit mix, and consistent rental demand in the Hobbs market. The community consists of 32 units with a unit mix that includes larger floorplans attractive to families and long-term tenants. Unit Mix 16 – 3 Bedroom units – Market rent ~$1,300 8 – 2 Bedroom units – Market rent ~$1,200 8 – 1 Bedroom units – Market rent ~$1,100 Income & Performance Gross Potential Rent: $470,400 annually Actual Rental Income (2025): $440,880 P&L Sunrise 2025 Average Monthly Income: ~$36,740 Actual Economic Vacancy: ~$29,520 (~6.3%) Projected Vacancy (Underwritten): ~7% The property features several amenities including an on-site leasing office, community swimming pool, and shared...

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Home facts

  • Listing ID #:20261476
  • Added:13 day(s) ago
  • Updated:March 21, 2026 at 12:55 AM

Rooms and interior

  • Bedrooms:6
  • Total bathrooms:4

Structure and exterior

  • Lot area:8.49 Acres
  • Lot Features:Irregular Lot

Finances and disclosures

  • Price:$3,500,000
  • Tax amount:$37,946 (2025)

Features and amenities

  • Laundry features:Laundry Yes
  • Amenities:Audio/Video Surveillance

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