Quadplex Income
For Sale
$469,900
3724 KELTNER Avenue, El Paso, TX 79904
MULTI_FAMILY - El Paso, TX
Property Size3,869 SF
Lot Size0.20 Acres
Price / SF$121.45
Days on Market86
Property Features for 3724 KELTNER Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
A2
Appliances
Refrigerator, Microwave, Disposal, Dishwasher
Subdivision
Logan Heights
Elementary school
Logan
Middle school
Canyonh
High school
Capt J L Chapin High
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
L447999073A0900
Size
3,869 SF
Lot size
0.20 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
73-A LOGAN HEIGHTS NW 1/4 OF 1 EXC N 25 FT (8820 SQ FT)
Tax Annual Amount
12700
Legal Description
73-A LOGAN HEIGHTS NW 1/4 OF 1 EXC N 25 FT (8820 SQ FT)
Utilities
Sewer type
Public Sewer
Heating system
Central
Building Details
Year built
2021
Number of units
4
Building materials
Stucco
Roof type
Shingle
Listing Agency:
Camacho Real Estate
(915) 629-0017
Listed By:
Veronica Ortiz
(915) 494-1013
Added: Jun 2
Changed: Jul 23
Last Checked: Aug 26 at 4:06PM
MLS# 945111
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 for-sale quadplex features four units, each with two bedrooms and one bathroom. Interiors are described as open and spacious, with stainless steel appliances, granite countertops, and refrigerated air to support comfortable day-to-day living. Three units are currently rented, and one unit is vacant and available for showings, allowing buyers to evaluate finishes and layout in person.
The property sits on a 0.2-acre lot and is zoned A2. It is located in El Paso, TX 79904.
With three units already producing rental income and a fourth available for immediate viewing, this asset may appeal to investors seeking a small multifamily structure with straightforward unit mix. The consistent two-bedroom, one-bath configuration across all units can also simplify operations for an owner-operator or a portfolio buyer looking for a dependable income stream.
The property sits on a 0.2-acre lot and is zoned A2. It is located in El Paso, TX 79904.
With three units already producing rental income and a fourth available for immediate viewing, this asset may appeal to investors seeking a small multifamily structure with straightforward unit mix. The consistent two-bedroom, one-bath configuration across all units can also simplify operations for an owner-operator or a portfolio buyer looking for a dependable income stream.
Key Highlights
- Quaduplex built in 2021 with four units, each featuring 2 bedrooms and 1 bathroom
- Open floor plan in all units with stainless steel appliances, granite countertops, and refrigerated air
- Three units currently rented; one vacant unit available for showings
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
$34,980
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
7.44%
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%
$699,600
$699.6K
Cap Rate 7%
$499,714
$499.7K
Cap Rate 9%
$388,667
$388.7K
Market Conditions
NOI Build-Up for 3,869 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
$52.5K $13.56/SF
− Vacancy
−$2.5K −$0.64/SF
EGI
$50.0K $12.92/SF
− OpEx
−$15.0K −$3.87/SF
NOI
$35.0K $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%
$699,600
Cap Rate 7%
$499,714
Cap Rate 9%
$388,667
Alternative Uses
Best Use
Multifamily LT 5
$499.7K
$437.3K – $583.0K
NOI $34,980 @ 7.0% cap · market cap 7.44%
Second Best
Apartment 5plus
$460.9K
$403.3K – $537.7K
NOI $32,264 @ 7.0% cap · market cap 6.87%
Theoretical Best
Office A
$970.6K
$849.3K – $1.13M
NOI $67,945 @ 7.0% cap · market cap 14.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
75%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
437
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?
Quadplex - Four well-appointed units offer strong rental potential, with three currently occupied and one available for showings.
Where is this quadplex located?
The property is located at 3724 KELTNER Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Quaduplex built in 2021 with four units, each featuring 2 bedrooms and 1 bathroom; Open floor plan in all units with stainless steel appliances, granite countertops, and refrigerated air; Three units currently rented; one vacant unit available for showings
