Triplex with Two Leased
For Sale
$315,000
3905 LEAVELL Avenue, El Paso, TX 79904
Residential Income, El Paso, TX
Property Size1,924 SF
Lot Size0.14 Acres
Price / SF$163.72
Days on Market197
Property Features for 3905 LEAVELL Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
R1
Appliances
Water Heater, Washer Hookup, Washer, Microwave, Dryer, Cooktop
Subdivision
Logan Heights
Elementary school
Logan
Middle school
Canyonh
High school
Capt J L Chapin High
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
L44799905504300
Size
1,924 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
55 LOGAN HEIGHTS 12 & 13 (6000 SQ FT)
Tax Annual Amount
4353
Legal Description
55 LOGAN HEIGHTS 12 & 13 (6000 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Multi Units, Window Unit(s)
Building Details
Year built
1934
Number of units
3
Flooring type
Tile, Wood
Building materials
Masonite
Roof type
Rolled Hot Mop
Listing Agency:
The Real Estate Agency
(915) 600-7666
Listed By:
Blanca Cecilia Alvidrez · License #0781590
(915) 241-4940
Added: Feb 18
Changed: Aug 26
Last Checked: Sep 3 at 1:06PM
MLS# 938405
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 1,924-square-foot triplex sits on a 0.14-acre parcel and was constructed in 1934. The property includes three residential units, with two currently leased. The main house is identified as an additional rental component. Interior features include tile and wood flooring, wall-furnace heating, window and multi-unit cooling, and a kitchen package with a cooktop, microwave, water heater, washer, dryer, and washer hookup. Masonite construction and a rolled hot-mop roof complete the improvements.
The property is served by public sewer. The seller currently covers utilities, Wi-Fi, and Ring floodlights and cameras. Located in El Paso, Texas, the triplex carries R1 zoning and offers an established residential income configuration with two occupied units.
The property is served by public sewer. The seller currently covers utilities, Wi-Fi, and Ring floodlights and cameras. Located in El Paso, Texas, the triplex carries R1 zoning and offers an established residential income configuration with two occupied units.
Key Highlights
- 1,924 SF triplex on a 0.14‑acre parcel
- Two of three units are currently leased
- R1 zoning in El Paso, TX
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
$17,395
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
5.52%
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%
$347,900
$347.9K
Cap Rate 7%
$248,500
$248.5K
Cap Rate 9%
$193,278
$193.3K
Market Conditions
NOI Build-Up for 1,924 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
$26.1K $13.56/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$24.9K $12.92/SF
− OpEx
−$7.5K −$3.87/SF
NOI
$17.4K $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%
$347,900
Cap Rate 7%
$248,500
Cap Rate 9%
$193,278
Alternative Uses
Best Use
Multifamily LT 5
$248.5K
$217.4K – $289.9K
NOI $17,395 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$229.2K
$200.6K – $267.4K
NOI $16,044 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$482.7K
$422.4K – $563.1K
NOI $33,788 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
342
Businesses Nearby
Explore this area
Business Placement
Demographics for 79904, TX
31,491
Population
13,571
Households
2.3
Avg Household Size
33
Median Age
14%
College-Educated
78%
High-School Grad
12.0 sq mi
ZIP Area
2,624
Density / Sq Mi
$40,892
Median Household Income
$28,775
Median Earnings
$1,017
Median Rent
$117,400
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?
Triplex - R1-zoned triplex with two leased units and seller-paid utilities, including Wi-Fi and exterior security equipment.
Where is this triplex located?
The property is located at 3905 LEAVELL Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,924 SF triplex on a 0.14‑acre parcel; Two of three units are currently leased; R1 zoning in El Paso, TX
