6-Unit Apartment
For Sale
$399,500
2219 MAGOFFIN Avenue, El Paso, TX 79901
Residential Income, El Paso, TX
Property Size3,197 SF
Lot Size0.10 Acres
Price / SF$124.96
Days on Market42
Property Features for 2219 MAGOFFIN Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
C4
Parking features
On Street
Appliances
Refrigerator, Microwave, Free-Standing Gas Oven
Subdivision
Bassett
Elementary school
Douglass
Middle school
Guillen
High school
Bowie
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
B20299903408600
Size
3,197 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
34 BASSETT 26 & W 1/2 OF 27 (4500.00 SQ FT)
Tax Annual Amount
6073
Legal Description
34 BASSETT 26 & W 1/2 OF 27 (4500.00 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Multi Units, Evaporative Cooling
Building Details
Year built
1912
Number of units
6
Flooring type
Vinyl
Building materials
Stucco
Roof type
Flat
Listing Agency:
The Real Estate Power Houses
(915) 549-4663
Listed By:
Liliana Quevedo Sutcliffe
(915) 355-3586
Added: Jul 22
Changed: Aug 19
Last Checked: Sep 1 at 5:06PM
MLS# 948077
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 6-unit apartment property contains 3,197 square feet on a 0.1-acre parcel and was built in 1912. The interiors have been remodeled with vinyl flooring, modern finishes, and mini-split heating paired with refrigerated air systems. Units include refrigerators, microwaves, and free-standing gas ovens. Stucco construction, a flat roof, forced-air heating, evaporative cooling, public sewer service, and on-street parking complete the physical profile.
The property is located at 2219 Magoffin Avenue in El Paso’s historic Magoffin neighborhood. Downtown El Paso, UTEP, hospitals, the Medical Center, shopping, dining, entertainment, and international bridges are all described as minutes away. C4 zoning and current occupancy across all six units add relevant operating context for a multifamily owner.
The property is located at 2219 Magoffin Avenue in El Paso’s historic Magoffin neighborhood. Downtown El Paso, UTEP, hospitals, the Medical Center, shopping, dining, entertainment, and international bridges are all described as minutes away. C4 zoning and current occupancy across all six units add relevant operating context for a multifamily owner.
Key Highlights
- Six units, all currently leased
- 3,197 square feet on a 0.1‑acre parcel
- Remodeled interiors with vinyl flooring and modern finishes
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
$26,660
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
6.67%
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%
$533,200
$533.2K
Cap Rate 7%
$380,857
$380.9K
Cap Rate 9%
$296,222
$296.2K
Market Conditions
NOI Build-Up for 3,197 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
$51.0K $15.96/SF
− Vacancy
−$2.6K −$0.80/SF
EGI
$48.5K $15.16/SF
− OpEx
−$21.8K −$6.82/SF
NOI
$26.7K $8.34/SF
Area
El Paso, TX
Vacancy
5.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$533,200
Cap Rate 7%
$380,857
Cap Rate 9%
$296,222
Alternative Uses
Best Use
Apartment 5plus
$380.9K
$333.3K – $444.3K
NOI $26,660 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$802.1K
$701.8K – $935.7K
NOI $56,144 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
Explore this area
Business Placement
Demographics for 79901, TX
10,027
Population
4,571
Households
2.2
Avg Household Size
40
Median Age
7%
College-Educated
46%
High-School Grad
2.2 sq mi
ZIP Area
4,558
Density / Sq Mi
$13,984
Median Household Income
$19,026
Median Earnings
$517
Median Rent
$93,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - All residences are leased and feature updated interiors with individual mini-split heating and refrigerated air systems.
Where is this apartment building located?
The property is located at 2219 MAGOFFIN Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Six units, all currently leased; 3,197 square feet on a 0.1‑acre parcel; Remodeled interiors with vinyl flooring and modern finishes
