Remodeled Four-Unit Apartment
For Sale
$429,333
4605 Arlen Avenue, El Paso, TX 79904
Residential, El Paso, TX
Property Size3,200 SF
Lot Size0.16 Acres
Price / SF$134.17
Days on Market160
Property Features for 4605 Arlen Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
A2
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 8, Bathroom 1, Bedroom 7, Bathroom 2, Bathroom 3, Bedroom 3, Bathroom 4, Bedroom 1
Window features
Blinds
Exterior features
Walled Backyard
Appliances
Dishwasher, Free-Standing Gas Oven, Range Hood, Refrigerator
Subdivision
Del Norte Acres
Lot features
Standard Lot
Elementary school
H R Moye
Middle school
Canyonh
High school
Irvin
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
72637
Size
3,200 SF
Lot size
0.16 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
21 DEL NORTE ACRES E 70 FT OF 23 & 24 (7000 SQ FT)
Tax Annual Amount
6133
Legal Description
21 DEL NORTE ACRES E 70 FT OF 23 & 24 (7000 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central
Cooling system
Evaporative Cooling
Amenities
washer and dryer hookup
Building Details
Year built
1979
Floors in Building
2
Flooring type
Tile, Vinyl
Building materials
Stucco
Roof type
Flat
Architectural style
Other
Listing Agency:
V Realty
(915) 503-2959
Listed By:
George A Van · License #0611253
(915) 496-7661
Added: Apr 8
Changed: Sep 13
Last Checked: Sep 14 at 6:06PM
MLS# 941777
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 quadplex contains four apartments with a combined 3,200 square feet of interior space. Each residence offers two bedrooms, while interiors include vinyl and tile flooring, central forced-air heating, evaporative cooling, and washer and dryer hookups. Select kitchen equipment includes dishwashers, gas ovens, range hoods, and refrigerators.
The property occupies 0.16 acres and includes a walled backyard, stucco construction, a flat roof, and public sewer service. Originally built in 1979, the complex was remodeled in 2013. A2 zoning and proximity to I-54 add context for evaluating the property as a residential income asset in El Paso.
The property occupies 0.16 acres and includes a walled backyard, stucco construction, a flat roof, and public sewer service. Originally built in 1979, the complex was remodeled in 2013. A2 zoning and proximity to I-54 add context for evaluating the property as a residential income asset in El Paso.
Key Highlights
- Four apartments, each with 2 bedrooms
- 3,200 square feet across the quadplex
- Remodeled in 2013; originally built in 1979
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
$28,932
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
6.74%
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%
$578,640
$578.6K
Cap Rate 7%
$413,314
$413.3K
Cap Rate 9%
$321,467
$321.5K
Market Conditions
NOI Build-Up for 3,200 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
$43.4K $13.56/SF
− Vacancy
−$2.1K −$0.64/SF
EGI
$41.3K $12.92/SF
− OpEx
−$12.4K −$3.87/SF
NOI
$28.9K $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%
$578,640
Cap Rate 7%
$413,314
Cap Rate 9%
$321,467
Alternative Uses
Best Use
Multifamily LT 5
$413.3K
$361.7K – $482.2K
NOI $28,932 @ 7.0% cap · market cap 6.74%
Second Best
Apartment 5plus
$381.2K
$333.6K – $444.8K
NOI $26,685 @ 7.0% cap · market cap 6.22%
Theoretical Best
Office A
$802.8K
$702.5K – $936.6K
NOI $56,196 @ 7.0% cap · market cap 13.09%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
896
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - Four two-bedroom apartments with in-unit laundry hookups, updated interiors, and access to I-54 in El Paso.
Where is this quadplex located?
The property is located at 4605 Arlen Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $429,333.
What are key features of this property?
This property features: Four apartments, each with 2 bedrooms; 3,200 square feet across the quadplex; Remodeled in 2013; originally built in 1979
