Five-Unit Apartment
For Sale
$330,000
615 617 S VIRGINIA Street, El Paso, TX 79901
Residential Income, El Paso, TX
Property Size2,138 SF
Lot Size0.14 Acres
Price / SF$154.35
Days on Market177
Property Features for 615 617 S VIRGINIA Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R1
Appliances
Washer Hookup, Built-In Electric Oven
Subdivision
Campbell
Elementary school
Aoy
Middle school
Guillen
High school
Bowie
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
C05099910801100
Size
2,138 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
108 CAMPBELL 3 & 4 (6240.00 SQ FT)
Tax Annual Amount
8479
Legal Description
108 CAMPBELL 3 & 4 (6240.00 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Central
Cooling system
Ceiling Fan(s)
Amenities
refrigerated air
Building Details
Year built
1930
Number of units
5
Flooring type
Concrete, Tile - Ceramic
Building materials
Brick, Stucco
Roof type
Shingle
Listing Agency:
Team Juan Uribe
(915) 585-0007
Listed By:
Norma Uribe · License #0395099
(915) 727-3373
Added: Mar 23
Changed: Sep 12
Last Checked: Sep 15 at 4:06PM
MLS# 940767
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 residential income property comprises two apartment buildings totaling 2,138 square feet on 0.14 acres. The five-unit configuration includes three two-bedroom apartments and two one-bedroom apartments, each with a kitchen and one bathroom. Three units have refrigerated air. Construction includes brick and stucco, with ceramic tile and concrete flooring. Central heating, ceiling fans, washer hookups, and a built-in electric oven are among the property features.
The buildings are located at 615 and 617 S. Virginia Street in El Paso, Texas. The property carries R1 zoning, uses public sewer, and was built in 1930. The seller pays the water bill only.
The buildings are located at 615 and 617 S. Virginia Street in El Paso, Texas. The property carries R1 zoning, uses public sewer, and was built in 1930. The seller pays the water bill only.
Key Highlights
- Five units across two buildings at 615 and 617 S. Virginia Street
- 2,138 square feet on a 0.14‑acre parcel
- Unit mix includes three two‑bedroom and two one‑bedroom apartments
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
$17,829
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
5.40%
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%
$356,580
$356.6K
Cap Rate 7%
$254,700
$254.7K
Cap Rate 9%
$198,100
$198.1K
Market Conditions
NOI Build-Up for 2,138 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
$34.1K $15.96/SF
− Vacancy
−$1.7K −$0.80/SF
EGI
$32.4K $15.16/SF
− OpEx
−$14.6K −$6.82/SF
NOI
$17.8K $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%
$356,580
Cap Rate 7%
$254,700
Cap Rate 9%
$198,100
Alternative Uses
Best Use
Apartment 5plus
$254.7K
$222.9K – $297.2K
NOI $17,829 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$536.4K
$469.3K – $625.8K
NOI $37,546 @ 7.0% cap · market cap 11.38%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
3,022
Businesses Nearby
Explore this area
Business Placement
Demographics for 79901, TX
10,027
Population
4,571
Households
2.2
Avg Household Size
40
Median Age
7%
College-Educated
46%
High-School Grad
2.2 sq mi
ZIP Area
4,558
Density / Sq Mi
$13,984
Median Household Income
$19,026
Median Earnings
$517
Median Rent
$93,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two brick-and-stucco buildings provide a mix of one- and two-bedroom apartments.
Where is this apartment building located?
The property is located at 615 617 S VIRGINIA Street El Paso, TX.
What is the asking price?
The asking price for this property is $330,000.
What are key features of this property?
This property features: Five units across two buildings at 615 and 617 S. Virginia Street; 2,138 square feet on a 0.14‑acre parcel; Unit mix includes three two‑bedroom and two one‑bedroom apartments
