R4-Zoned Four-Unit
New
For Sale
$365,000
3204 Frankfort Avenue, El Paso, TX 79930
Residential Income, El Paso, TX
Property Size3,539 SF
Lot Size0.18 Acres
Price / SF$103.14
Days on Market3
Property Features for 3204 Frankfort Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R4
Parking features
Paved or Surfaced, On Street
Appliances
Free-Standing Gas Oven
Subdivision
Altura Park
Elementary school
Crockett
Middle school
Alderete
High school
Austin
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
A52099903907100
Size
3,539 SF
Lot size
0.18 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
39 ALTURA PARK 51 & 52 & W 15 FT OF 50 (7800 SQ FT)
Tax Annual Amount
5396
Legal Description
39 ALTURA PARK 51 & 52 & W 15 FT OF 50 (7800 SQ FT)
Utilities
Sewer type
Public Sewer
Cooling system
Evaporative Cooling
Building Details
Year built
1929
Number of units
4
Building materials
Stucco
Roof type
Flat
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Cassandra Rosales
(915) 204-2328
Added: Aug 20
Last Checked: Aug 22 at 6:06PM
MLS# 949708
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 four-unit residential property contains 3,539 square feet on a 0.18-acre lot and was built in 1929. The unit mix includes one three-bedroom, one-bath residence and three two-bedroom, one-bath residences. All four units are rented. The building has stucco construction, a flat roof, evaporative cooling, a free-standing gas oven, public sewer service, and paved or on-street parking.
The property is located at 3204 Frankfort Avenue in El Paso, Texas 79930, within the Altura Park neighborhood. Austin High School is described as being within a short walk, with schools, parks, shopping, and dining also identified in the surrounding area. R4 zoning supports the property’s established multi-unit configuration.
The property is located at 3204 Frankfort Avenue in El Paso, Texas 79930, within the Altura Park neighborhood. Austin High School is described as being within a short walk, with schools, parks, shopping, and dining also identified in the surrounding area. R4 zoning supports the property’s established multi-unit configuration.
Key Highlights
- Four‑unit property with all units rented
- Unit mix includes one 3 BD/1BA residence and three 2 BR/1BA residences
- 3,539 square feet on 0.18 acres
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
$31,997
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
8.77%
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%
$639,940
$639.9K
Cap Rate 7%
$457,100
$457.1K
Cap Rate 9%
$355,522
$355.5K
Market Conditions
NOI Build-Up for 3,539 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
$48.0K $13.56/SF
− Vacancy
−$2.3K −$0.64/SF
EGI
$45.7K $12.92/SF
− OpEx
−$13.7K −$3.87/SF
NOI
$32.0K $9.04/SF
Area
El Paso, TX
Vacancy
4.75%
Lease Rate
$13.56 /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%
$639,940
Cap Rate 7%
$457,100
Cap Rate 9%
$355,522
Alternative Uses
Best Use
Multifamily LT 5
$457.1K
$400.0K – $533.3K
NOI $31,997 @ 7.0% cap · market cap 8.77%
Second Best
Apartment 5plus
$421.6K
$368.9K – $491.9K
NOI $29,512 @ 7.0% cap · market cap 8.09%
Theoretical Best
Office A
$887.9K
$776.9K – $1.04M
NOI $62,150 @ 7.0% cap · market cap 17.03%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
381
Businesses Nearby
Explore this area
Business Placement
Demographics for 79930, TX
24,553
Population
11,729
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
75%
High-School Grad
7.5 sq mi
ZIP Area
3,274
Density / Sq Mi
$41,826
Median Household Income
$24,903
Median Earnings
$909
Median Rent
$124,000
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?
Quadplex - All four residences are occupied, with a mix of two- and three-bedroom layouts.
Where is this quadplex located?
The property is located at 3204 Frankfort Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $365,000.
What are key features of this property?
This property features: Four‑unit property with all units rented; Unit mix includes one 3 BD/1BA residence and three 2 BR/1BA residences; 3,539 square feet on 0.18 acres
