4-Unit Apartment
For Sale
$520,000
368 Milton Road, El Paso, TX 79915
Four residences offer two bedrooms, one bathroom, parking, refrigerated air, modern finishes, and private backyards.
Property Size3,344 SF
Price / SF$155.50
Days on Market195
Property Features for 368 Milton Road
General Information
Standard status
Active
Size
3,344 SF
Property subtype
Multi-Family / Quadruplex
Zoning
A1
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$12,988
Amenities
parking
refrigerated air
private backyard
Yes
See Remarks
.00
Building Details
Year Built
2022
Listing Agency:
Panda Pal Property Management
(915) 304-7359
Listed By:
Andrew Davis · License #0695301
Source:
Compass
Added: Feb 17
Changed: Aug 30
Last Checked: Aug 30 at 8:21AM
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 Panda Pal Property Management
Investment Insights
Based on property information with market context.
Located at 368 Milton Road in El Paso, the property contains four apartments totaling 3,344 square feet and was built in 2022. Each unit provides two bedrooms, one bathroom, a small private backyard, parking, refrigerated air, and modern finishes. The property is zoned A1.
The landlord currently pays gas, electric, water, and trash utilities. The property is offered as-is, and the apartments are tenant occupied. Existing information should be independently verified before taking action.
The landlord currently pays gas, electric, water, and trash utilities. The property is offered as-is, and the apartments are tenant occupied. Existing information should be independently verified before taking action.
Key Highlights
- Four apartments totaling 3,344 square feet
- Built in 2022 and zoned A1
- Each unit includes 2 bedrooms and 1 bathroom
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
$30,234
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
5.81%
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%
$604,680
$604.7K
Cap Rate 7%
$431,914
$431.9K
Cap Rate 9%
$335,933
$335.9K
Market Conditions
NOI Build-Up for 3,344 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
$45.3K $13.56/SF
− Vacancy
−$2.2K −$0.64/SF
EGI
$43.2K $12.92/SF
− OpEx
−$13.0K −$3.87/SF
NOI
$30.2K $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 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%
$604,680
Cap Rate 7%
$431,914
Cap Rate 9%
$335,933
Alternative Uses
Best Use
Multifamily LT 5
$431.9K
$377.9K – $503.9K
NOI $30,234 @ 7.0% cap · market cap 5.81%
Second Best
Apartment 5plus
$398.4K
$348.6K – $464.8K
NOI $27,886 @ 7.0% cap · market cap 5.36%
Theoretical Best
Office A
$838.9K
$734.1K – $978.8K
NOI $58,725 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
586
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
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four residences offer two bedrooms, one bathroom, parking, refrigerated air, modern finishes, and private backyards.
Where is this quadplex located?
The property is located at 368 Milton Road El Paso, TX.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Four apartments totaling 3,344 square feet; Built in 2022 and zoned A1; Each unit includes 2 bedrooms and 1 bathroom
