Seven-Unit Apartment
For Sale
$450,000
2314 WYOMING Avenue, El Paso, TX 79903
Residential Income, El Paso, TX
Property Size3,400 SF
Lot Size0.09 Acres
Price / SF$132.35
Days on Market54
Property Features for 2314 WYOMING Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
C4
Parking features
On Street
Appliances
Water Heater, Refrigerator, Range Hood, Gas Cooktop
Subdivision
Cotton
Elementary school
Moreno
Middle school
Armendariz
High school
Austin
Elementary school district
Socorro
Middle school district
Socorro
High school district
Socorro
Standard status
Active
APN
B20299907702600
Size
3,400 SF
Lot size
0.09 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
77 BASSETT 9 & E 9 FT OF 10 (4080 SQ FT)
Tax Annual Amount
7999
Legal Description
77 BASSETT 9 & E 9 FT OF 10 (4080 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Heat Pump (Heating)
Cooling system
Multi Units
Building Details
Year built
1927
Number of units
7
Building materials
Stucco
Roof type
Shingle
Listing Agency:
ClearView Realty
(915) 855-1110
Listed By:
Randy Solis · License #799512038
(915) 667-6066
Added: Aug 1
Changed: Sep 5
Last Checked: Sep 23 at 5:06AM
MLS# 948681
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.
Investment Insights
Based on property information with market context.
This C4-zoned apartment property includes a 3-bedroom main residence and six additional rental units, providing seven units across 3,400 square feet. The rental units have been recently remodeled, while the improvements include stucco construction, shingle roofing, heat-pump heating, multiple cooling units, and on-street parking. The property was built in 1927 and is served by public sewer.
Located on Wyoming Avenue in El Paso, the property offers access to I-10 and is positioned near Downtown El Paso and UTEP. Shopping, dining, hospitals, and entertainment are also identified in the surrounding area. The property is reported as 100% occupied, with $4,800 in monthly rent and an 8.3% cap rate.
Located on Wyoming Avenue in El Paso, the property offers access to I-10 and is positioned near Downtown El Paso and UTEP. Shopping, dining, hospitals, and entertainment are also identified in the surrounding area. The property is reported as 100% occupied, with $4,800 in monthly rent and an 8.3% cap rate.
Key Highlights
- Seven total units: a 3‑bedroom main residence plus six additional rental units
- 3,400 square feet on a 0.09‑acre lot
- Recently remodeled rental units
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
$28,353
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
6.30%
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%
$567,060
$567.1K
Cap Rate 7%
$405,043
$405.0K
Cap Rate 9%
$315,033
$315.0K
Market Conditions
NOI Build-Up for 3,400 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
$54.3K $15.96/SF
− Vacancy
−$2.7K −$0.80/SF
EGI
$51.6K $15.16/SF
− OpEx
−$23.2K −$6.82/SF
NOI
$28.4K $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 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%
$567,060
Cap Rate 7%
$405,043
Cap Rate 9%
$315,033
Alternative Uses
Best Use
Apartment 5plus
$405.0K
$354.4K – $472.6K
NOI $28,353 @ 7.0% cap · market cap 6.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$853.0K
$746.4K – $995.2K
NOI $59,709 @ 7.0% cap · market cap 13.27%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
7
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 79903, TX
16,425
Population
6,708
Households
2.4
Avg Household Size
44
Median Age
16%
College-Educated
74%
High-School Grad
3.0 sq mi
ZIP Area
5,475
Density / Sq Mi
$38,294
Median Household Income
$24,288
Median Earnings
$883
Median Rent
$118,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - C4-zoned multifamily property with remodeled rental units, public sewer, and convenient access to I-10.
Where is this apartment building located?
The property is located at 2314 WYOMING Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: Seven total units: a 3‑bedroom main residence plus six additional rental units; 3,400 square feet on a 0.09‑acre lot; Recently remodeled rental units
