1028 E East Bender Boulevard, L, Hobbs, NM 88240 (MLS# 1026332)

1028 E East Bender Boulevard, L, Hobbs, NM 88240

$750,000

Property Type: Residential Income Square Footage: 18,200 Lot Size (sq. ft.): 75,359 Status: Closed

Current Price: $750,000 List Date: 11/28/2022 Last Modified: 8/12/2023

Overview

Description

NM Apartment Advisors Inc. and Bobby Shaw Real are excited to bring to this 26 unit community to market. Located in the heart of New Mexico's energy plex and at 1028 East Bender, Hobbs, NM, this apartment investment is a short drive to Hobbs entertainment, retail, grocery stores, and dozens of restaurants. The property features 26 individual buildings with two bedroom, one bathroom units and is an extreme value add opportunity. Full inspections and renovation quotes are available to qualified investors who complete the online confidentially agreement This investment / redevelopment opportunity is not for the first time investor or the faint of heart – it is going to take a lot of money and hands on effort to get the property headed in the right direction, but the potential arbitr

Listing Details MLS# 1026332

Status Change Info

Pending Date: 2023-06-27
Closing Date: 2023-08-12

Contract Information

List Price/SqFt: 41.21
Allowance/Concession: No

Location

Street #: 1028
Direction: E
Street Name: East Bender
St Suffix: Boulevard
Unit #: L
County: Lea
City/Town Code: Hobbs
State/Province: NM
Zip Code: 88240
MLS Area Major: 490 - Lea
Zone Atlas: NOZA

CityCounty Data

Subdivision Name: Lot 1-26

General Property Description

# of Units: 26
5+ Units: Yes
Units for Sale: 26
Property Sub-Type: Multi-Family
Living Area: 18200
SqFt Source: Professional
Lot Size Source: On-Line
Acres: 1.73
Lot SqFt: 75359
Directions: from Dal Paso and Bender, east to the property.
Stories: Yes
Total Stories in Bldg: Yes
Total # of Buildings: 26
Year Built: 1980
Year Built Exception: Unknown
Age: 41 - 50
# Parking Spaces: 30
Disability Access: No
LBP Disclosure: No
Builder: Unknown
Owner Occupant Unit: No
Multiple Lots: One
Flood Zone: X

Basement

Basement: No

More Information

Sales Info

Trade/Xch Considered: No

# of Unit Types (1)

# of Units: 7
# of Bedrooms: 2
# Baths: Yes
Style: vacant
Approx. SqFt: 700
Max Rent: 650
Market Rent: 823

# of Unit Types (2)

# of Units: 19
# of Bedrooms: 2
# Baths: Yes
Approx. SqFt: 700
Actual Rent: 505
Max Rent: 650
Market Rent: 823

Unit Summary

Total Units: 26
Average Unit Size: 700
Average Actual Rent: 369.03
Annualized: 115140
Total Actual Rent: 9595

Currently Not Used

Bank Owned: No

City/County Data

UPC Code: 4226106942495

Tax & Legal Info

GRT Code: 06-111
Tax Exemption: Unknown
Tax Annual Amount: 1224

Construction Materials

Frame: Yes
Wood Siding: Yes

Amenities

No Landscaping: Yes

Cooling

Refrigerated: Yes

Flooring

Vinyl: Yes

Heating

Electric: Yes
Heat Pump: Yes

Owner Pays

Other - See Remarks: Yes

Tenant Pays

Other - See Remarks: Yes

Income & Expenses

Annual Gross Income: 116491
Operating Expenses: 40003

Build Description

Resale: Yes

Appliances included

Refrigerator: Yes

Utilities

Electricity Connected: Yes
Natural Gas Connected: Yes
Sewer Connected: Yes
Water Connected: Yes

Electric Provider

Public Utility: Yes

Electric

None: Yes

Metering

Individual Electric: Yes
Individual Gas: Yes

Operating Expenses

Other - See Remarks: Yes

Finance Considered

Cash: Yes
Conventional: Yes

Rental Info

Other - See Remarks: Yes

Source

Actual Record: Yes

Zoning

R-2: Yes

Property Features

Construction Materials: Frame; Wood Siding Build Description: Resale Amenities: No Landscaping Appliances included: Refrigerator Utilities: Electricity Connected; Natural Gas Connected; Sewer Connected; Water Connected Heating: Heat Pump Cooling: Refrigerated Flooring: Vinyl Electric Provider: Public Utility Electric: None Metering: Individual Electric; Individual Gas Operating Expenses: Other - See Remarks Owner Pays: Other - See Remarks Tenant Pays: Other - See Remarks Rental Info: Other - See Remarks Finance Considered: Cash; Conventional Source: Actual Record Zoning: R-2

Documents

Flyer & APOD ›

Tax Levy Disclosure ›

Lead Based Paint ›

Listing Office: NM Apartment Advisors, Inc.

Last Updated: August - 12 - 2023

Some of the information contained herein has been provided by SWMLS, Inc. This information is from sources deemed reliable but not guaranteed by SWMLS, Inc. The information is for consumers' personal, non-commercial use and may not be used for any purpose other than identifying properties which consumers may be interested in purchasing.