54,900 Square Foot Multi-Family Space For Sale @ 1502 East Bender Boulevard

1502 East Bender Boulevard, Hobbs, NM 88240

To view listing contacts please sign in with your Pro account or create a pro account.

Todd C.

Company: requires Pro account

Email: requires Pro account

Phone: requires Pro account



Choose nearby businesses to show on the map:

Yelp

NM Apartment Advisors and Holfeltz Realty LLC is proud to bring to market a rare opportunity to purchase a distressed value-add asset in a high employment market of NM’s booming Energyplex.

The Regal Manor apartments, a 60 unit apartment community is offered for sale by the US Bankruptcy Court, NM District, at an ask price of $3,500,000, $58,333 per unit, $63.75/sf, 10.61% before reserves CAP rate, 10.19% after reserves CAP rate, with a potential 23.66% cash on cash return.

This property currently has 25% of its units vacant, and it’s likely the bankruptcy trustee will narrow that vacancy down to 15% this month.

Average rents for this community $1,114, but there is room for improvements as average rents in Hobbs are $1,225. Don’t miss out – while this property needs some TLC, there is upside in improving occupancy, converting more of the units to furnished corporate rentals, and adding solar car ports.

The community offers a swimming pool, office, laundry room and lush landscaping.

Listing company: NM Apartment Advisors, Inc.

Pricing: Contact for Pricing

Availability: Now

Listing ID: 731318


Save and Continue Browsing

Sale Price: $0

Size: 54,900 square feet

Type: Multi-Family Space

Learn More:

Company Name
Name of your company
Describe your location and space requirements
Enter additional requirements that you may have
Processing ...

We respect your privacy.

Get access to listing contacts with a Pro Account