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    Leased Triplex with Corner Build Lot Title is generated by Realmo AI

    176 LANZA Lane, Socorro, TX 79927

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    For Sale
    $320,000

    MULTI_FAMILY - Socorro, TX

    Property size:
    2,661 SF
    Lot size:
    0.47 Acres
    Price / SF:
    $120/SF
    Added:
    Jun 3, 2026
    Days on Market:
    6
    Last Refresh:
    Jun 8 at 5:06 am

    Property Features for 176 LANZA Lane

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    M3
    Appliances
    Refrigerator, Microwave
    Standard status
    Active
    APN
    S56000000050006
    Size
    2,661 SF
    Lot size
    0.47 Acres

    Taxes and HOA fees

    Tax Year
    2026
    Tax Description
    5 SPANISH TRAIL 6 & 7 (20504.34 SQ FT)
    Tax Annual Amount
    9174

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas, Central

    Building Details

    Year built
    2019
    Number of units
    3
    Building materials
    Stucco
    Roof type
    Shingle

    We can help!

    Listing Contact
    Mary Perkins
    Mary Perkins

    Listing agent Mary Perkins License #0541696

    Listing office ERA Sellers & Buyers Real Esta 780 N Resler Dr., Suite A, TX

    Listing date Jun 3, 2026

    MLS# 945301

    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.

    HighLights

    • 3‑unit multi‑family property built in 2019 with all units currently rented
    • Unit mix: one 2BR/800 SF unit and two 1BR units (921 SF and 940 SF)
    • Leases listed at $850 for Unit 1 and Unit 2; Unit 3 leased at $1,000
    • All units have been recently updated and feature refrigerated air; landlord pays all utilities
    • Floor plans for all units are identical and mirror each other; each unit includes a refrigerator and microwave
    • Includes a corner lot totaling 20,504.34 SF for adding future units

    Overview

    This for-sale triplex includes three residential units with identical floor plans. Unit 1 offers 2 bedrooms and approximately 800 square feet and is leased at $850. Unit 2 offers 1 bedroom and approximately 921 square feet and is leased at $850. Unit 3 offers 1 bedroom and approximately 940 square feet and is leased at $1,000. All three units are currently rented, have been recently updated, and include refrigerated air. The landlord pays all utilities.

    The property is located in Socorro, TX at 176 LANZA Lane, in El Paso County. In addition to the triplex, the sale includes a corner lot measuring 20,504.34 square feet, which may support future development of additional units. The seller notes the property is minutes from I-10 and 375.

    For investors or owner-operators seeking a multi-unit residential setup, this offering combines three fully leased units with recent updates and refrigerated air in place. The included corner lot provides a separate development opportunity for buyers looking to add capacity beyond the existing triplex, subject to applicable requirements.

    Local Financial Insights For Multifamily LT 5

    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 $33.5k $12.60
    − Vacancy −$2.0k −$0.75
    EGI $31.5k $11.85
    − OpEx −$9.5k −$3.55
    NOI $22.1k $8.29
    2,661 SF · lease $12.60/SF/yr · vacancy 5.98% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $315.2K
    $275.8K – $367.8K (±1% cap)
    NOI $22,067 @ 7.0% cap · market cap 6.90%
    Second Best
    Apartment 5plus
    $289.2K
    $253.0K – $337.4K (±1% cap)
    NOI $20,241 @ 7.0% cap · market cap 6.33%
    Theoretical Best
    Office A
    $480.9K
    $420.8K – $561.1K (±1% cap)
    NOI $33,663 @ 7.0% cap · market cap 10.52%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Socorro
    County
    El Paso
    State
    Texas
    Longitude
    -106.296135
    Latitude
    31.657057

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    FAQs

    What type of property is this?
    Triplex - Three rented units with recent updates and refrigerated air, plus an included corner lot for future expansion.
    Where is this triplex located?
    The property is located at 176 LANZA Lane Socorro, TX.
    What is the asking price?
    The asking price for this property is $320,000.
    What are key features of this property?
    This property features: 3‑unit multi‑family property built in 2019 with all units currently rented; Unit mix: one 2BR/800 SF unit and two 1BR units (921 SF and 940 SF); Leases listed at $850 for Unit 1 and Unit 2; Unit 3 leased at $1,000
    (915) 449-0906
    We can help!
    Listing Contact
    Mary Perkins
    Mary Perkins
    Real Estate License ID: 0541696
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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