6-Unit Apartment
For Sale
$399,500
2219 Magoffin Avenue, El Paso, TX 79901
All six residences are leased and have mini-split systems for heating and refrigerated air.
Property Size3,197 SF
Price / SF$124.96
Days on Market101
Property Features for 2219 Magoffin Avenue
General Information
Standard status
Active
Size
3,197 SF
Property subtype
Multi Family Home
Zoning
C4
Site & Location
Neighborhood
El Barrio Neighborhood Association
Additional Details
Multifamily Units
6
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$6,073
Building Details
Building Size
3,197 SF
Year Built
1912
Stories
1
Units
6
Listing Agency:
El Paso Real Estate Company
Listed By:
Al Jurado · License #0410918
(915) 630-8373
Source:
Elpasorealestateco
Added: Jul 22
Changed: Oct 26
Last Checked: Oct 29 at 8:16PM
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 3,197-square-foot apartment property contains six residences, all currently leased. Built in 1912, the building has undergone remodeling, with updated interiors and modern finishes. Each unit is equipped with mini-split heating and refrigerated air systems.
The property is at 2219 Magoffin Avenue in El Paso’s historic Magoffin neighborhood, near Downtown El Paso, UTEP, hospitals, the Medical Center, shopping, dining, entertainment, and international bridges. C4 zoning is designated for the property.
The property is at 2219 Magoffin Avenue in El Paso’s historic Magoffin neighborhood, near Downtown El Paso, UTEP, hospitals, the Medical Center, shopping, dining, entertainment, and international bridges. C4 zoning is designated for the property.
Key Highlights
- Six residential units, all currently leased
- 3,197 square feet; built in 1912
- Mini‑split heating and refrigerated air in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$26,660
Cap Rate
6.67%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,200
$533.2K
Cap Rate 7%
$380,857
$380.9K
Cap Rate 9%
$296,222
$296.2K
Market Conditions
NOI Build-Up for 3,197 SF
Gross rent
$51.0K $15.96/SF
− Vacancy
−$2.6K −$0.80/SF
EGI
$48.5K $15.16/SF
− OpEx
−$21.8K −$6.82/SF
NOI
$26.7K $8.34/SF
Area
El Paso, TX
Vacancy
5.00%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$533,200
Cap Rate 7%
$380,857
Cap Rate 9%
$296,222
Alternative Uses
Best Use
Apartment 5plus
$380.9K
$333.3K – $444.3K
NOI $26,660 @ 7.0% cap · market cap 6.67%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$802.1K
$701.8K – $935.7K
NOI $56,144 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
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Open Analytics
Lease Details
6
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?
Apartment building - All six residences are leased and have mini-split systems for heating and refrigerated air.
Where is this apartment building located?
The property is located at 2219 Magoffin Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $399,500.
What are key features of this property?
This property features: Six residential units, all currently leased; 3,197 square feet; built in 1912; Mini‑split heating and refrigerated air in each unit
