8-Unit Occupied Apartment
For Sale
$389,000
Pending
404 & 406 FRENCH Place, El Paso, TX 79905
Residential Income, El Paso, TX
Property Size2,193 SF
Lot Size0.24 Acres
Days on Market58
Property Features for 404 & 406 FRENCH Place
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R5
Parking features
On Street
Appliances
Refrigerator, Range Hood, Free-Standing Gas Oven
Subdivision
Kyle
Elementary school
Clardy
Middle school
Henderson
High school
Jefferson
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Pending
APN
K98299900205500/K98299900206100
Size
2,193 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
2 KYLE LOT 10 (7325 SQ FT)/2 Kyle LOT 11
Tax Annual Amount
5960
Legal Description
2 KYLE LOT 10 (7325 SQ FT)/2 Kyle LOT 11
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central, Forced Air
Cooling system
Varies by Unit
Building Details
Year built
1951
Number of units
8
Flooring type
Tile
Building materials
Block
Roof type
Shingle, Flat
Additional Structures
Storage
Listing Agency:
The Real Estate Power Houses
(915) 549-4663
Listed By:
Liliana Quevedo Sutcliffe
(915) 355-3586
Added: Jul 8
Changed: Aug 19
Last Checked: Sep 3 at 12:06AM
MLS# 947244
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 8-unit apartment property contains 2,193 square feet on a 0.24-acre lot and was built in 1951. Block construction, tile flooring, central natural-gas forced-air heating, and unit-specific cooling are among the existing improvements. The property is served by public sewer, with shingle and flat roof sections. Appliances include refrigerators, range hoods, and free-standing gas ovens.
All units are occupied by long-term tenants. The property is located at 404 & 406 French Place in El Paso, near schools, shopping, restaurants, parks, and major thoroughfares. On-street parking is provided, and the property carries R5 zoning.
All units are occupied by long-term tenants. The property is located at 404 & 406 French Place in El Paso, near schools, shopping, restaurants, parks, and major thoroughfares. On-street parking is provided, and the property carries R5 zoning.
Key Highlights
- 8‑unit apartment property with 100% occupancy
- 2,193 square feet on a 0.24‑acre lot
- Built in 1951 with block construction
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
$18,288
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
4.70%
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%
$365,760
$365.8K
Cap Rate 7%
$261,257
$261.3K
Cap Rate 9%
$203,200
$203.2K
Market Conditions
NOI Build-Up for 2,193 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
$35.0K $15.96/SF
− Vacancy
−$1.8K −$0.80/SF
EGI
$33.3K $15.16/SF
− OpEx
−$15.0K −$6.82/SF
NOI
$18.3K $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%
$365,760
Cap Rate 7%
$261,257
Cap Rate 9%
$203,200
Alternative Uses
Best Use
Apartment 5plus
$261.3K
$228.6K – $304.8K
NOI $18,288 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$550.2K
$481.4K – $641.9K
NOI $38,512 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 79905, TX
22,483
Population
9,168
Households
2.5
Avg Household Size
39
Median Age
10%
College-Educated
58%
High-School Grad
6.6 sq mi
ZIP Area
3,407
Density / Sq Mi
$25,496
Median Household Income
$21,636
Median Earnings
$646
Median Rent
$103,900
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 - R5-zoned multifamily property with tile flooring, central heating, and on-street parking.
Where is this apartment building located?
The property is located at 404 & 406 FRENCH Place El Paso, TX.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: 8‑unit apartment property with 100% occupancy; 2,193 square feet on a 0.24‑acre lot; Built in 1951 with block construction
