8-Unit Apartment
For Sale
$389,000
1-8-404 & 406 French Pl, El Paso, TX 79905
Fully occupied multifamily property near schools, retail, dining, parks, and major thoroughfares in El Paso’s Lower Valley.
Property Size2,193 SF
Price / SF$177.38
Days on Market78
Property Features for 1-8-404 & 406 French Pl
General Information
Standard status
Active
Size
2,193 SF
Property subtype
Residential Income
Occupancy
100%
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$5,960
Listing Agency:
The Real Estate Power Houses
Listed By:
Liliana Quevedo Sutcliffe
(915) 355-3586
Source:
Exprealty
Added: Jul 9
Changed: Sep 23
Last Checked: Sep 24 at 11:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The Real Estate Power Houses
Investment Insights
Based on property information with market context.
This multifamily property contains 8 apartment units and is reported as 100% occupied by long-term tenants. The occupied configuration provides an established residential rental profile for an apartment-building buyer.
The property is located in El Paso’s Lower Valley, near schools, shopping, restaurants, parks, and major thoroughfares. Its surrounding amenities and transportation access support convenient day-to-day living for residents.
The property is located in El Paso’s Lower Valley, near schools, shopping, restaurants, parks, and major thoroughfares. Its surrounding amenities and transportation access support convenient day-to-day living for residents.
Key Highlights
- 8‑unit multifamily property
- 100% occupied
- Long‑term tenants in place
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
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 - Fully occupied multifamily property near schools, retail, dining, parks, and major thoroughfares in El Paso’s Lower Valley.
Where is this apartment building located?
The property is located at 1-8-404 & 406 French Pl 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 multifamily property; 100% occupied; Long‑term tenants in place
