3-Unit Apartment
New
For Sale
$235,000
2203 Magoffin Avenue, El Paso, TX 79901
Residential Income, El Paso, TX
Property Size1,530 SF
Lot Size0.07 Acres
Price / SF$153.59
Days on Market6
Property Features for 2203 Magoffin Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
M3
Parking features
On Street
Appliances
Refrigerator, Microwave, Gas Cooktop
Subdivision
Bassett
Elementary school
Douglass
Middle school
Guillen
High school
Bowie
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
B20299903405100
Size
1,530 SF
Lot size
0.07 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
34 BASSETT LOT 19 (3000 SQ FT)
Tax Annual Amount
3500
Legal Description
34 BASSETT LOT 19 (3000 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Window Unit(s)
Building Details
Year built
1951
Number of units
3
Flooring type
Tile - Ceramic
Building materials
Stucco
Roof type
Flat
Listing Agency:
V Realty
(915) 503-2959
Listed By:
Aldo G. Morales
(915) 309-8818
Added: Oct 14
Changed: Oct 19
Last Checked: Oct 19 at 3:06PM
MLS# 952843
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.
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Investment Insights
Based on property information with market context.
This 1,530-square-foot triplex contains three separate apartments on a 0.07-acre lot. Two units each offer one bedroom and one bathroom, while the remaining unit is a studio. Built in 1951, the property has stucco construction, ceramic tile flooring, a flat roof, wall-furnace heat, and window-unit cooling. Appliances include a refrigerator, microwave, and gas cooktop. Public sewer serves the property, and parking is on street.
Located at 2203 Magoffin Avenue in El Paso, the property is near schools, shopping centers, and major highways. Its zoning is M3.
Located at 2203 Magoffin Avenue in El Paso, the property is near schools, shopping centers, and major highways. Its zoning is M3.
Key Highlights
- Three separate units: two one‑bedroom, one‑bath apartments and one studio
- 1,530 square feet on a 0.07‑acre lot
- Built in 1951; stucco exterior and flat roof
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,833
Cap Rate
5.89%
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 5.89%
Second Best
Apartment 5plus
$182.3K
$159.5K – $212.7K
NOI $12,759 @ 7.0% cap · market cap 5.43%
Theoretical Best
Office A
$383.8K
$335.9K – $447.8K
NOI $26,869 @ 7.0% cap · market cap 11.43%
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
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Triplex - Two apartments have one bedroom and one bathroom each; the third is a studio.
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 $235,000.
What are key features of this property?
This property features: Three separate units: two one‑bedroom, one‑bath apartments and one studio; 1,530 square feet on a 0.07‑acre lot; Built in 1951; stucco exterior and flat roof
