Updated Two-Unit
For Sale
$395,000
241 Riverside Dr, El Paso, TX 79915
The property pairs one tenant-occupied residence with a second unit available for occupancy.
Property Size1,849 SF
Price / SF$213.63
Days on Market17
Property Features for 241 Riverside Dr
General Information
Standard status
Active
Size
1,849 SF
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Highway Access
Yes
Amenities
spacious yard
Building Details
Year Built
1955
Listing Agency:
Keller Williams Realty
Listed By:
ClearView Realty
(915) 855-1110
Source:
Clearviewep
Added: Oct 2
Changed: Oct 16
Last Checked: Oct 16 at 8:24AM
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 Keller Williams Realty
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Investment Insights
Based on property information with market context.
Built in 1955, this 1,849-square-foot duplex contains two residences, each with two bedrooms and one bathroom. Both units have been updated. One is occupied by a tenant, while the other is vacant and available for a resident or tenant.
The property occupies nearly a quarter-acre lot with a spacious yard in El Paso. Major highways, shopping, dining, and everyday amenities are accessible from the property.
The property occupies nearly a quarter-acre lot with a spacious yard in El Paso. Major highways, shopping, dining, and everyday amenities are accessible from the property.
Key Highlights
- Two units, each with 2 bedrooms and 1 bathroom
- 1,849 square feet; built in 1955
- One unit is tenant occupied and the other is vacant
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,717
Cap Rate
4.23%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$334,340
$334.3K
Cap Rate 7%
$238,814
$238.8K
Cap Rate 9%
$185,744
$185.7K
Market Conditions
NOI Build-Up for 1,849 SF
Gross rent
$25.1K $13.56/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$23.9K $12.92/SF
− OpEx
−$7.2K −$3.87/SF
NOI
$16.7K $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%
$334,340
Cap Rate 7%
$238,814
Cap Rate 9%
$185,744
Alternative Uses
Best Use
Multifamily LT 5
$238.8K
$209.0K – $278.6K
NOI $16,717 @ 7.0% cap · market cap 4.23%
Second Best
Apartment 5plus
$220.3K
$192.7K – $257.0K
NOI $15,419 @ 7.0% cap · market cap 3.90%
Theoretical Best
Office A
$463.9K
$405.9K – $541.2K
NOI $32,471 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
Explore this area
Business Placement
Demographics for 79915, TX
35,234
Population
14,139
Households
2.5
Avg Household Size
41
Median Age
13%
College-Educated
68%
High-School Grad
8.9 sq mi
ZIP Area
3,959
Density / Sq Mi
$35,938
Median Household Income
$25,400
Median Earnings
$808
Median Rent
$117,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Duplex - The property pairs one tenant-occupied residence with a second unit available for occupancy.
Where is this duplex located?
The property is located at 241 Riverside Dr El Paso, TX.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1 bathroom; 1,849 square feet; built in 1955; One unit is tenant occupied and the other is vacant
