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    El Paso Multifamily Investment Opportunity

    512 Center Way El Paso, TX 79915

    Claim this Listing
    For Sale
    $1,498,500

    COMMERCIAL - El Paso, TX

    Property size:
    11,000 SF
    Lot size:
    0.48 Acres
    Price / SF:
    $136/SF
    Added:
    Apr 29, 2026
    Days on Market:
    75
    Last Refresh:
    Jul 12 at 4:06 pm

    Property Features for 512 Center Way

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    A2
    Fireplace
    1
    Standard status
    Active
    APN
    N44299900602500
    Size
    11,000 SF
    Lot size
    0.48 Acres

    Taxes and HOA fees

    Tax Description
    6 NORTH LOOP GARDENS #1 10 (0.482 ACRE)
    Tax Annual Amount
    2025

    Building Details

    Floors in Building
    2

    Listing agent Anibal Olague License #0653430

    Listing office Cap Rate Real Estate Group 1035 Belvidere, Ste. 290, El Paso, TX

    Listing date Apr 29, 2026

    MLS# 943064

    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.

    The property at 512 Center Way in El Paso, Texas, presents an investment opportunity with an 11-unit multifamily complex. Located in the 79915 ZIP code within the Santa Lucia neighborhood, the property is conveniently located near shopping centers such as San Jose Plaza and North Loop Shopping Center, accessible within a 10 to 11-minute walk. Ascarate Park is also nearby, approximately 7 minutes away by car. The property is situated 1.5 miles, or 3 minutes, from El Paso Community College (EPCC) Valle Verde campus. The complex consists of two-story townhomes, each featuring 2 to 3 bedrooms and 1 to 1.5 baths. Each unit provides approximately 1,000 sq ft of living space. The units feature open floor plans, refrigerated air units, and modern designer colors. The lot size is 0.48 acres. The property's location and unit features make it suitable for student renters.

    Key Highlights

    • 11‑unit multifamily complex at 512 Center Way Apartments in El Paso, TX 79915 (Santa Lucia neighborhood)
    • Two‑story townhome layout with 2–3 bedrooms and 1–1.5 baths
    • Approximately 1,000 SF per unit

    Local 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 $175.6k $15.96
    − Vacancy −$8.8k −$0.80
    EGI $166.8k $15.16
    − OpEx −$75.1k −$6.82
    NOI $91.7k $8.34
    11,000 SF · lease $15.96/SF/yr · vacancy 5.00% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $1.31M
    $1.15M – $1.53M (±1% cap)
    NOI $91,730 @ 7.0% cap · market cap 6.12%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $2.76M
    $2.41M – $3.22M (±1% cap)
    NOI $193,175 @ 7.0% cap · market cap 12.89%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Dental Office Spa & Massage Center Gym & Fitness Center Skin Care Clinic Building Supply Hair Salon Computer & Electronic Repair Barber Shop

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Apartment building - Eleven-unit complex near EPCC, ideal for student housing.
    Where is this apartment building located?
    The property is located at 512 Center Way El Paso, TX.
    What is the asking price?
    The asking price for this property is $1,498,500.
    What are key features of this property?
    This property features: 11‑unit multifamily complex at 512 Center Way Apartments in El Paso, TX 79915 (Santa Lucia neighborhood); Two‑story townhome layout with 2–3 bedrooms and 1–1.5 baths; Approximately 1,000 SF per unit
    Contact an agent
    (915) 443-8859
    We can help!
    Contact an agent
    Anibal Olague
    Anibal Olague
    Real Estate License ID: 0653430
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