5-Unit Apartment Building with Off-Street
1207 East Rio Grande Avenue El Paso, TX 79902
For Sale
$305,000
1900s residence converted into five fully rented apartments with off-street parking via the back alley.
Property Size3,186 SF
Price / SF$95.73
Days on Market201
Property Features for 1207 East Rio Grande Avenue
General Information
- Standard status
- Active
- Size
- 3,186 SF
- Property subtype
- Multi-Family / Quadruplex
Building Details
- Year Built
- 1901
Listing Agency:
Keller Williams Realty
(915) 799-9708
Listed By:
Allison M Dillard · License #0664018
Source:
Compass
Added: Jan 4
Changed: Jul 22
Last Checked: Jul 23 at 10:43AM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This property is a historic 1900s home that was converted into five fully rented apartments prior to 1977. Each unit is currently generating $600 per month in rental income. The building includes off-street parking accessible through the back alley, and the sale also features a storage building and shed. Some TLC is needed, providing an opportunity for updates while maintaining the existing rental setup.
The property is located at 1207 East Rio Grande Avenue in El Paso, Texas (79902). Please do not disturb tenants, and ask your agent for the 3D tours.
The property is located at 1207 East Rio Grande Avenue in El Paso, Texas (79902). Please do not disturb tenants, and ask your agent for the 3D tours.
Key Highlights
- 1901 home converted into 5 fully rented apartments prior to 1977
- Rental income: each apartment generates $600/month (all 5 currently rented)
- Off‑street parking available through the back alley
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 | $50.8k | $15.96 |
| − Vacancy | −$2.5k | −$0.80 |
| EGI | $48.3k | $15.16 |
| − OpEx | −$21.7k | −$6.82 |
| NOI | $26.6k | $8.34 |
3,186 SF · lease $15.96/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$379.5K
$332.1K – $442.8K
NOI $26,568 @ 7.0% cap · market cap 8.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$799.3K
$699.4K – $932.5K
NOI $55,951 @ 7.0% cap · market cap 18.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - 1900s residence converted into five fully rented apartments with off-street parking via the back alley.
Where is this apartment building located?
The property is located at 1207 East Rio Grande Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $305,000.
What are key features of this property?
This property features: 1901 home converted into 5 fully rented apartments prior to 1977; Rental income: each apartment generates $600/month (all 5 currently rented); Off‑street parking available through the back alley
