For Sale
$400,000
317 N Carolina Drive, El Paso, TX 79915
Multifamily properties
Property Size2,461 SF
Price / SF$162.54
Days on Market79
Property Features for 317 N Carolina Drive
General Information
Standard status
Active
Size
2,461 SF
Property subtype
Multi-Family
Building Details
Year Built
1968
Listing Agency:
ERA Sellers & Buyers Real Esta
Listed By:
Alberto Lugo · License #5742
(915) 269-1550
Source:
Risingsundevelopmentgroup
Added: Aug 6
Changed: Sep 8
Last Checked: Sep 8 at 8:30AM
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 ERA Sellers & Buyers Real Esta
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Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,523
Cap Rate
5.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$410,460
$410.5K
Cap Rate 7%
$293,186
$293.2K
Cap Rate 9%
$228,033
$228.0K
Market Conditions
NOI Build-Up for 2,461 SF
Gross rent
$39.3K $15.96/SF
− Vacancy
−$2.0K −$0.80/SF
EGI
$37.3K $15.16/SF
− OpEx
−$16.8K −$6.82/SF
NOI
$20.5K $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%
$410,460
Cap Rate 7%
$293,186
Cap Rate 9%
$228,033
Alternative Uses
Best Use
Apartment 5plus
$293.2K
$256.5K – $342.1K
NOI $20,523 @ 7.0% cap · market cap 5.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$617.4K
$540.2K – $720.3K
NOI $43,219 @ 7.0% cap · market cap 10.80%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Location Intelligence
Trade Area within ½ mile
493
Businesses Nearby
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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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
Where is this multifamily property located?
The property is located at 317 N Carolina Drive El Paso, TX.
What is the asking price?
The asking price for this property is $400,000.
