2600-2608 N Houston St, Hobbs, NM 88240

Welcome to this lucrative investment opportunity! This 5-unit property has five fully rented units, each with 2 bedrooms and 1 bathroom. Tenants are all on individual electric meters, ensuring responsibility for their own electric bills. Additionally, the owner covers water, sewer, and trash expenses. Currently, the average rent stands at $770 per unit, offering a solid stream of income. However, with the potential to increase rents to $800 to $850 per unit, there's an opportunity to increase the property's revenue stream and maximize returns. Investors will appreciate the property's attractive capitalization rate (cap rate), which sits at approximately 8.60%. Don't miss out on this turnkey investment opportunity with great potential for increased profitability.