Three-Unit
For Sale
$229,000
2203 Magoffin Avenue, El Paso, TX 79901
The property contains two one-bedroom apartments and a separate studio, with M3 zoning.
Property Size1,530 SF
Price / SF$149.67
Days on Market17
Property Features for 2203 Magoffin Avenue
General Information
Standard status
Active
Size
1,530 SF
Property subtype
Multi Family Home
Zoning
M3
Site & Location
Neighborhood
El Barrio Neighborhood Association
Units
Unit Mix
2 x 1BR/1BA, 1 x studio
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$3,500
Building Details
Building Size
1,530 SF
Year Built
1951
Stories
1
Units
3
Listing Agency:
El Paso Real Estate Company
Listed By:
Al Jurado · License #0410918
(915) 630-8373
Source:
Elpasorealestateco
Added: Oct 14
Changed: Oct 25
Last Checked: Oct 29 at 8:26PM
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 El Paso Real Estate Company
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Investment Insights
Based on property information with market context.
This triplex in El Paso comprises three separate residences. Two apartments each have one bedroom and one bathroom; the third unit is a studio. The 1,530-square-foot property was built in 1951 and is zoned M3.
Schools, shopping centers, and major highways are cited as nearby amenities. The property is located at 2203 Magoffin Avenue.
Schools, shopping centers, and major highways are cited as nearby amenities. The property is located at 2203 Magoffin Avenue.
Key Highlights
- Three residential units in one property
- Two apartments, each with 1 bedroom and 1 bathroom
- Third unit is a studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,833
Cap Rate
6.04%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$276,660
$276.7K
Cap Rate 7%
$197,614
$197.6K
Cap Rate 9%
$153,700
$153.7K
Market Conditions
NOI Build-Up for 1,530 SF
Gross rent
$20.7K $13.56/SF
− Vacancy
−$985 −$0.64/SF
EGI
$19.8K $12.92/SF
− OpEx
−$5.9K −$3.87/SF
NOI
$13.8K $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%
$276,660
Cap Rate 7%
$197,614
Cap Rate 9%
$153,700
Alternative Uses
Best Use
Multifamily LT 5
$197.6K
$172.9K – $230.6K
NOI $13,833 @ 7.0% cap · market cap 6.04%
Second Best
Apartment 5plus
$182.3K
$159.5K – $212.7K
NOI $12,759 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$383.8K
$335.9K – $447.8K
NOI $26,869 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,605
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - The property contains two one-bedroom apartments and a separate studio, with M3 zoning.
Where is this triplex located?
The property is located at 2203 Magoffin Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $229,000.
What are key features of this property?
This property features: Three residential units in one property; Two apartments, each with 1 bedroom and 1 bathroom; Third unit is a studio
