El Paso Multifamily
For Sale
$550,000
3701 Fred Wilson Avenue, El Paso, TX 79904
COMMERCIAL - El Paso, TX
Property Size4,887 SF
Lot Size0.28 Acres
Price / SF$112.54
Days on Market120
Property Features for 3701 Fred Wilson Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
A2
Parking
10
Fireplace
1
Subdivision
Logan Heights
Standard status
Active
APN
L447999073A4100
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
73-A LOGAN HEIGHTS 5 TO 8 (12360 SQ FT)
Tax Annual Amount
11026
Legal Description
73-A LOGAN HEIGHTS 5 TO 8 (12360 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Cooling system
Evaporative Cooling
Amenities
courtyard with barbecue area
on-site laundry
off-street parking
Building Details
Floors in Building
1
Building materials
Brick
Listing Agency:
eXp Realty LLC
(888) 519-7431
Listed By:
Cassandra Rosales
(915) 204-2328
Added: May 5
Changed: Aug 4
Last Checked: Sep 1 at 11:06PM
MLS# 943518
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 ten-unit multifamily property is located in the Logan Heights neighborhood of Northeast El Paso. Constructed of brick in the mid-century, the building spans approximately 4,887 square feet and is situated on a 0.28-acre lot. The property features ten one-bedroom units that have consistently demonstrated rental income. A new roof was installed in August 2023. The complex includes a central courtyard with a barbecue area, an on-site laundry facility, and off-street parking with nearly two spaces per unit. The location provides proximity to Fort Bliss and US-54. This property is intended for multifamily residential use.
Key Highlights
- Consistent rental income from ten 1‑bedroom units.
- Brand new roof installed in August 2023.
- Proximity to Fort Bliss and US‑54.
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
$40,753
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
7.41%
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%
$815,060
$815.1K
Cap Rate 7%
$582,186
$582.2K
Cap Rate 9%
$452,811
$452.8K
Market Conditions
NOI Build-Up for 4,887 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
$78.0K $15.96/SF
− Vacancy
−$3.9K −$0.80/SF
EGI
$74.1K $15.16/SF
− OpEx
−$33.3K −$6.82/SF
NOI
$40.8K $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%
$815,060
Cap Rate 7%
$582,186
Cap Rate 9%
$452,811
Alternative Uses
Best Use
Apartment 5plus
$582.2K
$509.4K – $679.2K
NOI $40,753 @ 7.0% cap · market cap 7.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.23M
$1.07M – $1.43M
NOI $85,822 @ 7.0% cap · market cap 15.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
503
Businesses Nearby
Explore this area
Business Placement
Demographics for 79904, TX
31,491
Population
13,571
Households
2.3
Avg Household Size
33
Median Age
14%
College-Educated
78%
High-School Grad
12.0 sq mi
ZIP Area
2,624
Density / Sq Mi
$40,892
Median Household Income
$28,775
Median Earnings
$1,017
Median Rent
$117,400
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?
Apartment building - Ten-unit multifamily property in El Paso's Logan Heights.
Where is this apartment building located?
The property is located at 3701 Fred Wilson Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Consistent rental income from ten 1‑bedroom units.; Brand new roof installed in August 2023.; Proximity to Fort Bliss and US‑54.
