Leased Triplex with Corner Build
For Sale
$320,000
176 LANZA Lane, Socorro, TX 79927
MULTI_FAMILY - Socorro, TX
Property Size2,661 SF
Lot Size0.47 Acres
Price / SF$120.26
Days on Market71
Property Features for 176 LANZA Lane
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
M3
Appliances
Refrigerator, Microwave
Subdivision
Spanish Trail
Elementary school
Escontrias
Middle school
Socorrom
High school
Socorro
Elementary school district
Socorro
Middle school district
Socorro
High school district
Socorro
Standard status
Active
APN
S56000000050006
Size
2,661 SF
Lot size
0.47 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
5 SPANISH TRAIL 6 & 7 (20504.34 SQ FT)
Tax Annual Amount
9174
Legal Description
5 SPANISH TRAIL 6 & 7 (20504.34 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Central, Forced Air, Natural Gas
Building Details
Year built
2019
Number of units
3
Building materials
Stucco
Roof type
Shingle
Listing Agency:
ERA Sellers & Buyers Real Esta · ERA Real Estate
(915) 585-2222
Listed By:
Mary Perkins · License #0541696
(915) 449-0906
Added: Jun 3
Changed: Aug 2
Last Checked: Aug 12 at 6:06PM
MLS# 945301
Copyright © 2026 Greater El Paso Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This for-sale triplex includes three residential units with identical floor plans. Unit 1 offers 2 bedrooms and approximately 800 square feet and is leased at $850. Unit 2 offers 1 bedroom and approximately 921 square feet and is leased at $850. Unit 3 offers 1 bedroom and approximately 940 square feet and is leased at $1,000. All three units are currently rented, have been recently updated, and include refrigerated air. The landlord pays all utilities.
The property is located in Socorro, TX at 176 LANZA Lane, in El Paso County. In addition to the triplex, the sale includes a corner lot measuring 20,504.34 square feet, which may support future development of additional units. The seller notes the property is minutes from I-10 and 375.
For investors or owner-operators seeking a multi-unit residential setup, this offering combines three fully leased units with recent updates and refrigerated air in place. The included corner lot provides a separate development opportunity for buyers looking to add capacity beyond the existing triplex, subject to applicable requirements.
The property is located in Socorro, TX at 176 LANZA Lane, in El Paso County. In addition to the triplex, the sale includes a corner lot measuring 20,504.34 square feet, which may support future development of additional units. The seller notes the property is minutes from I-10 and 375.
For investors or owner-operators seeking a multi-unit residential setup, this offering combines three fully leased units with recent updates and refrigerated air in place. The included corner lot provides a separate development opportunity for buyers looking to add capacity beyond the existing triplex, subject to applicable requirements.
Key Highlights
- 2019‑built 3‑unit property with all units currently rented
- Unit mix: one 2‑bedroom unit (800 SF) and two 1‑bedroom units (921 SF and 940 SF)
- Each unit has recently updated interiors and identical layouts, with refrigerated air in all units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,067
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.90%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,340
$441.3K
Cap Rate 7%
$315,243
$315.2K
Cap Rate 9%
$245,189
$245.2K
Market Conditions
NOI Build-Up for 2,661 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$33.5K $12.60/SF
− Vacancy
−$2.0K −$0.75/SF
EGI
$31.5K $11.85/SF
− OpEx
−$9.5K −$3.55/SF
NOI
$22.1K $8.29/SF
Area
El Paso County, TX
Vacancy
5.98%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$441,340
Cap Rate 7%
$315,243
Cap Rate 9%
$245,189
Alternative Uses
Best Use
Multifamily LT 5
$315.2K
$275.8K – $367.8K
NOI $22,067 @ 7.0% cap · market cap 6.90%
Second Best
Apartment 5plus
$289.2K
$253.0K – $337.4K
NOI $20,241 @ 7.0% cap · market cap 6.33%
Theoretical Best
Office A
$480.9K
$420.8K – $561.1K
NOI $33,663 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
313
Businesses Nearby
Explore this area
Business Placement
Demographics for 79927, TX
40,290
Population
14,284
Households
2.8
Avg Household Size
35
Median Age
10%
College-Educated
70%
High-School Grad
27.4 sq mi
ZIP Area
1,470
Density / Sq Mi
$51,735
Median Household Income
$30,738
Median Earnings
$1,070
Median Rent
$125,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three rented units with recent updates and refrigerated air, plus an included corner lot for future expansion.
Where is this triplex located?
The property is located at 176 LANZA Lane Socorro, TX.
What is the asking price?
The asking price for this property is $320,000.
What are key features of this property?
This property features: 2019‑built 3‑unit property with all units currently rented; Unit mix: one 2‑bedroom unit (800 SF) and two 1‑bedroom units (921 SF and 940 SF); Each unit has recently updated interiors and identical layouts, with refrigerated air in all units
