Investment Overview

Palomino Plains Manufactured Housing Community is an 88-site mobile home and RV community located in Hobbs, NM that boast 100% occupancy. The community includes 55 mobiles homes and 33 RV spaces. Utilities are paid by the community except for the electricity which is billed back to the tenants at a profit. The current management is also willing to stay on board for the new owners. There is sustainable upside in backfilling the 33 RV spaces to all mobile home lot rent or rentals. The city of Hobbs, New Mexico is located just inside New Mexico, on the Texas Panhandle Border. Hobbs serves as a supply, shipping and trading point for the oil-drilling industry, surrounding cattle ranches and artesian-irrigated farmlands according to Britannica.com. The city offers attractions such as the Western Heritage Museum with the Lea County Cowboy Hall of Fame, the Center for the Arts and the Zia Park Casino. The major employers in the area include Halliburton, Hobbs Municipal Schools, Lea Regional Medical Center and the Patterson-UTI Drilling Company. Recently in March 2022, the city of Hobbs approved an ordinance that would bring big box retail with the likes of Target and Costco to Hobbs, NM. Palomino Plains Manufactured Housing Community is located right off the major highway US Route 62. It is located less than 7 miles from the nearest Walmart Supercenter. It is also located about 2 miles from the nearest elementary school and less than one mile from the Hobbs High School. The Lea County Regional Airport is just less than 7 miles from the community. Hobbs, as a city, boast a population of around 40,000 people with a projected total population of close to 50,000 people by the end of 2030.