210 W Dunnam Street, Hobbs, NM 88240

Hobbs
Local realty services provided by:Better Homes and Gardens Real Estate Blu Realty
210 W Dunnam Street,Hobbs, NM 88240
$1,200,000
  • 1 Beds
  • 1 Baths
  • 21,000 sq. ft.
  • Multi-family
  • Active
Listed by: matthew smith
Office: found real estate
MLS#:20245732
Source:NM_RANM

Price summary

  • Price:$1,200,000
  • Price per sq. ft.:$57.14

About this home

Dunnam Apartments is a 15-unit multifamily property located in Hobbs, New Mexico, offering strong in-place cash flow with significant value-add potential. The property currently generates approximately $164,250 in annual rental income with an estimated NOI of approximately $138,275, providing an attractive ~11.5% cap rate at the $1.2M asking price. The building contains approximately 21,000 square feet across two levels and produces an average rent of approximately $912 per unit, providing investors with opportunities for gradual rent increases. A unique feature of the property is a large downstairs area that could potentially be converted into additional apartment units or repurposed as commercial space, creating additional income opportunities. Preliminary projections indicate the potential for approximately $4,000 per month in commercial lease income with improvements. With strong workforce housing demand in the Hobbs market and additional income opportunities through...

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Home facts

  • Listing ID #:20245732
  • Added:589 day(s) ago
  • Updated:May 13, 2026 at 02:52 PM

Rooms and interior

  • Bedrooms:1
  • Total bathrooms:1
  • Living area:21,000 sq. ft.

Structure and exterior

  • Building area:21,000 sq. ft.

Finances and disclosures

  • Price:$1,200,000
  • Price per sq. ft.:$57.14
  • Tax amount:$14,952 (2024)

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