For Sale

Listed by Todd Clarke CCIM from NM Apartment Advisors, Inc.

Apt L/1028 East Bender Boulevard, Hobbs, NM, 88240

¤704,572

2
1
18200 sq. ft.
75359 sq. ft.

MultiFam

•

30+ days on the market

What's around Apt L/1028 East Bender Boulevard

About this property

The property features 26 individual buildings with two bedroom, one bathroom units.Based on the current average rents of $505 per month, an actual vacancy rate of 26.0% and an ask price of $704, 572 the property's measures of investment performance include a 4.48 GRM, 10.00% cap rate after reserves, $27, 099 per unit, $38.71 per sf and a before tax IRR of 35.20% and an after-tax IRR of 27.30%. If rents were raised to market average of $823 (which is 60% of Adjusted Median Income) and all units were renovated, with a 5% vacancy, the potential value at a 6.50% cap rate is $2, 346, 470.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 to improve this property.

Looking for more information on Apt L/1028 East Bender Boulevard?

Explore comparables, sales history and growth for this property.
Learn more

Other properties for sale by NM Apartment Advisors, Inc.

For Sale
$1,023,993
State Road 76
La Puebla NM 87567
2
7
Multi-Family
Listing courtesy of NM Apartment Advisors, Inc.
For Sale
$1,750,000
517 1st Street Southwest
Rio Rancho NM 87124
Land
Listing courtesy of NM Apartment Advisors, Inc.
For Sale
$4,915,047
7605 Bell Avenue Southeast
Albuquerque NM 87108
1
1
Multi-Family
Listing courtesy of NM Apartment Advisors, Inc.

Browse properties sold in nearby areas

The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the "DMCA") provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under MLS GRID IDX Rules Updated September 16, 2024 7 U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to: dmca@ratemyagent.com

The DMCA requires that your notice of alleged copyright infringement include the following information: (1) description of the copyrighted work that is the subject of claimed infringement; (2) description of the alleged infringing content and information sufficient to permit us to locate the content; (3) contact information for you, including your address, telephone number and email address; (4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law; (5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and (6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner's behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

Email
© 2026 RateMyAgent