Large Acreage Apartment
For Sale
$7,999,999
3055 EL PASO RD, Brownsville, TX 78520
MULTI_FAMILY - BROWNSVILLE, TX
Property Size38,800 SF
Lot Size11.31 Acres
Price / SF$206.19
Days on Market542
Property Features for 3055 EL PASO RD
General Information
Property type
Residential Multi Family
Property subtype
Apartment
Interior features
Cable TV, Smoke Alarm(s)
Appliances
Range, Refrigerator
Subdivision
JAIME SALAZAR
Lot features
Landscaped, Sidewalks, Sprinklers In Front, Sprinklers In Rear
Elementary school
GARDEN PARK
Middle school
STELL
High school
PACE
Elementary school district
BROWNSVILLE I.S.D.
Middle school district
BROWNSVILLE I.S.D.
High school district
BROWNSVILLE I.S.D.
Standard status
Active
Size
38,800 SF
Lot size
11.31 Acres
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Central
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
2019
Floors in Building
1
Number of units
30
Flooring type
Tile
Listing Agency:
Excel Realty
(956) 280-3089
Listed By:
Manuel Salazar
(956) 561-4363
Added: Feb 5, 2025
Changed: Jul 31
Last Checked: Aug 1 at 6:06AM
MLS# 29762691
Copyright © 2026 Rio Grande Valley Multiple Listing Service Inc. 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 apartment community includes townhome-style units with a total-site plan for 136 units. All existing units are currently occupied, and each unit has its own water and electrical meters. The property sits on 11.31 acres and includes a 38,800 SF building footprint.
The townhomes are served by public water and public sewer. Interior appointments include tile flooring, cable TV, smoke alarms, and kitchen appliances such as a range and refrigerator. Heating is electric with central systems, and cooling is provided by central air conditioning.
Built in 2019, this setup may appeal to investors seeking a multi-unit configuration with individualized metering in place on a public-utilities site.
The townhomes are served by public water and public sewer. Interior appointments include tile flooring, cable TV, smoke alarms, and kitchen appliances such as a range and refrigerator. Heating is electric with central systems, and cooling is provided by central air conditioning.
Built in 2019, this setup may appeal to investors seeking a multi-unit configuration with individualized metering in place on a public-utilities site.
Key Highlights
- Site plan for 136 units total
- 11.31‑acre apartment community
- All existing units currently occupied
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $572.7k | $14.76 |
| − Vacancy | −$38.9k | −$1.00 |
| EGI | $533.7k | $13.76 |
| − OpEx | −$240.2k | −$6.19 |
| NOI | $293.6k | $7.57 |
38,800 SF · lease $14.76/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.19M
$3.67M – $4.89M
NOI $293,560 @ 7.0% cap · market cap 3.67%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$6.68M
$5.85M – $7.79M
NOI $467,649 @ 7.0% cap · market cap 5.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
218
Businesses Nearby
Explore this area
Business Placement
Demographics for 78520, TX
64,949
Population
22,543
Households
2.9
Avg Household Size
34
Median Age
23%
College-Educated
69%
High-School Grad
39.7 sq mi
ZIP Area
1,636
Density / Sq Mi
$47,331
Median Household Income
$27,529
Median Earnings
$842
Median Rent
$129,200
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?
Apartment building - Apartment community on a public utilities site with all existing units occupied and separate water and electric metering.
Where is this apartment building located?
The property is located at 3055 EL PASO RD Brownsville, TX.
What is the asking price?
The asking price for this property is $7,999,999.
What are key features of this property?
This property features: Site plan for 136 units total; 11.31‑acre apartment community; All existing units currently occupied
