Multifamily Property with Oversized
For Sale
$315,000
143 La Cienega Drive, Socorro, TX 79927
Main residence includes two additional apartment units and substantial garage storage on a residentially zoned parcel.
Property Size3,708 SF
Price / SF$84.95
Days on Market416
Property Features for 143 La Cienega Drive
General Information
Standard status
Active
Size
3,708 SF
Property subtype
Multi-Family / House Plus Unit(s)
Zoning
R1
Taxes and HOA fees
Annual Taxes
$10,400
Amenities
Yes
See Remarks, Free-Standing Gas Oven
.00
Shingle
Building Details
Year Built
1987
Listing Agency:
1st Choice Realty
(915) 224-9991
Listed By:
Hazel Meza · License #0821088
Source:
Compass
Added: Jul 12, 2025
Changed: Aug 30
Last Checked: Aug 30 at 3:44PM
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 1st Choice Realty
Investment Insights
Based on property information with market context.
This multifamily property contains a 3-bedroom, 2.5-bathroom main residence along with two separate 1-bedroom, 1-bathroom apartment units. The combined property size is 3,708 square feet, providing multiple residential living areas within one property. An oversized garage adds substantial storage capacity for vehicles, tools, and household items.
The property occupies 1/2 an Acre at 143 La Cienega Drive in Socorro, TX 79927. It is zoned R1 and was built in 1987. The configuration supports residential occupancy across the main home and apartment units, with the additional units also suitable for guest accommodations or home-office use.
The property occupies 1/2 an Acre at 143 La Cienega Drive in Socorro, TX 79927. It is zoned R1 and was built in 1987. The configuration supports residential occupancy across the main home and apartment units, with the additional units also suitable for guest accommodations or home-office use.
Key Highlights
- 3,708 square feet across the multifamily property
- Main residence has 3 bedrooms and 2.5 bathrooms
- Two apartment units, each with 1 bedroom and 1 bathroom
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
$28,205
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
8.95%
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%
$564,100
$564.1K
Cap Rate 7%
$402,929
$402.9K
Cap Rate 9%
$313,389
$313.4K
Market Conditions
NOI Build-Up for 3,708 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
$54.7K $14.76/SF
− Vacancy
−$3.4K −$0.93/SF
EGI
$51.3K $13.83/SF
− OpEx
−$23.1K −$6.22/SF
NOI
$28.2K $7.61/SF
Area
El Paso County, TX
Vacancy
6.30%
Lease Rate
$14.76 /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%
$564,100
Cap Rate 7%
$402,929
Cap Rate 9%
$313,389
Alternative Uses
Best Use
Apartment 5plus
$402.9K
$352.6K – $470.1K
NOI $28,205 @ 7.0% cap · market cap 8.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$670.1K
$586.4K – $781.8K
NOI $46,908 @ 7.0% cap · market cap 14.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
182
Businesses Nearby
Explore this area
Business Placement
Demographics for 79927, TX
40,290
Population
14,284
Households
2.8
Avg Household Size
35
Median Age
10%
College-Educated
70%
High-School Grad
27.4 sq mi
ZIP Area
1,470
Density / Sq Mi
$51,735
Median Household Income
$30,738
Median Earnings
$1,070
Median Rent
$125,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Multifamily property - Main residence includes two additional apartment units and substantial garage storage on a residentially zoned parcel.
Where is this multifamily property located?
The property is located at 143 La Cienega Drive Socorro, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 3,708 square feet across the multifamily property; Main residence has 3 bedrooms and 2.5 bathrooms; Two apartment units, each with 1 bedroom and 1 bathroom
