Building Details

Year Built 2024

Listing Agency: Keller Williams Realty

Listed By: Alejandro Gamboa · License #0724905 Show Phone

Source: Compass

Added: Jan 17, 2025 Changed: Oct 10 Last Checked: Oct 15 at 1:20AM

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Investment Insights

Based on property information with market context.

This four-unit residential income property at 1107 Myrtle Avenue in El Paso provides 2,304 square feet across a quadplex configuration. The property includes washer, refrigerator, microwave, free-standing gas oven, and dryer appliances, supporting practical residential functionality. A pitched shingle roof is also among the documented improvements.

The property is identified within the C4 zoning designation and is located at 1107 Myrtle Avenue, Unit AD, El Paso, TX 79901. Its central El Paso setting places the asset within an urban environment surrounded by businesses and cultural destinations, as described in the property information.

Key Highlights

• Quadplex configuration with four residential units
• 2,304 square feet of residential property
• C4 zoning designation

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$20,831

Cap Rate

3.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$416,620 $416.6K

Cap Rate 7%

$297,586 $297.6K

Cap Rate 9%

$231,456 $231.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,304 SF

Gross rent

$31.2K $13.56/SF

− Vacancy

−$1.5K −$0.64/SF

EGI

$29.8K $12.92/SF

− OpEx

−$8.9K −$3.87/SF

NOI

$20.8K $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 Rate 5%

$416,620

Cap Rate 7%

$297,586

Cap Rate 9%

$231,456

Alternative Uses

Best Use

Multifamily LT 5

$297.6K

$260.4K – $347.2K (±1% cap)

NOI $20,831 @ 7.0% cap · market cap 3.79%

Second Best

Apartment 5plus

$274.5K

$240.2K – $320.2K (±1% cap)

NOI $19,213 @ 7.0% cap · market cap 3.49%

Theoretical Best

Office A

$578.0K

$505.8K – $674.4K (±1% cap)

NOI $40,461 @ 7.0% cap · market cap 7.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Veterinary Clinic (Bike/Boat/Book/etc) Store Dental Office Locksmith HVAC Service Garden Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

3,795

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

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Quadplex in El Paso with modern appliance packages and C4 zoning.

Where is this quadplex located?

The property is located at 1107 Myrtle Avenue Unit AD El Paso, TX.

What is the asking price?

The asking price for this property is $550,000.

What are key features of this property?

This property features: Quadplex configuration with four residential units; 2,304 square feet of residential property; C4 zoning designation