Estimated payment $20,538/month
Highlights
- No HOA
- Surveillance System
- Laundry Facilities
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 laundry facility. Select three-bedroom units include in-unit laundry, providing additional convenience and appeal for tenants. Utilities Owner pays water and gas Tenants pay electricity The property is serviced by 7 gas water heaters and has historically maintained stable occupancy with consistent income performance. With strong in-place revenue, larger unit sizes, and convenient highway access, Sunrise Apartments represents a stabilized multifamily investment opportunity with reliable cash flow in the Hobbs market. Offered at $3,500,000 (~$109,375 per unit) with attractive in-place income and modest rental upside based on current market rents.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $37,947
Lot Details
- 8.49 Acre Lot
- Irregular Lot
Home Design
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Bathrooms
Listing and Financial Details
- Assessor Parcel Number 4000041730001
Community Details
Overview
- No Home Owners Association
- 32 Units
Amenities
- Laundry Facilities
Map
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 04/23/2026 04/23/26 | Price Changed | $3,300,000 | -5.7% | -- |
| 03/12/2026 03/12/26 | For Sale | $3,500,000 | -- | -- |
Source: New Mexico MLS
MLS Number: 20261476
APN: 4000041730001
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
- TBD N Marland Blvd
- 1307 E Snyder St
- TBD E Sanger St
- 827 Pinon Dr
- 900 N Pecan Dr
- 1411 E Dunnam St
- 1414 E Llano Dr
- 311 S Childers Dr
- 515 E Clinton St
- 1622 N Gila Dr
- 501 E Broadway St
- 804 Randy Place
- 700 E Permian Dr
- 500 E Permian Dr
- 1809 N Orchid Dr
- 1829 N Breckon Dr
- 1832 N Penasco Dr
- 213 E Gypsy St
- 306 E Green Acres Dr
- 114 W Park St
- 1122 3 E Broadway St
- 1021 E Yeso Dr
- 2001 N Jefferson St
- 211 E Alto Dr
- 2100 E Settlers Pass
- 700 N Leech St
- 2315 N Juniper Ln Unit 2315 Juniper
- 2817 N Platino Dr Unit B
- 2817 N Platino Dr Unit A
- 1107 E La Brea Ave
- 1023 E Glorietta Dr
- 3320 N Dal Paso St
- 3500 N Fowler St
- 907 W Coal Ave
- 200 W Navajo Dr
- 16 Stonecrest Ct
- 4023 N Grimes St Unit Grimes
- 3901 N Central Dr
- 5109 W Grey Ghost Rd
- TBD W Drake St
Ask me questions while you tour the home.