Triplex with Leased
For Sale
$315,000
3905 Leavell Ave, El Paso, TX 79904
Three-unit income property with two leased units and seller-paid utilities, Wi-Fi, and security equipment.
Property Size1,924 SF
Price / SF$163.72
Days on Market188
Property Features for 3905 Leavell Ave
General Information
Standard status
Active
Size
1,924 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$4,352
Listing Agency:
The Real Estate Agency
(915) 241-4940
Listed By:
Blanca Cecilia Alvidrez · License #0781590
(915) 241-4940
Source:
Exprealty
Added: Feb 18
Changed: Aug 22
Last Checked: Aug 24 at 8:48AM
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 The Real Estate Agency
Investment Insights
Based on property information with market context.
This 1,924-square-foot triplex at 3905 Leavell Ave in El Paso, Texas includes three residential units, with two currently leased. The property is configured as a rental asset, and the main house is identified as having additional rental potential.
The seller currently covers all utilities, along with Wi-Fi service and Ring floodlights and cameras. These operating details, combined with existing leases, provide a clear overview of the property’s current rental arrangement.
The seller currently covers all utilities, along with Wi-Fi service and Ring floodlights and cameras. These operating details, combined with existing leases, provide a clear overview of the property’s current rental arrangement.
Key Highlights
- 1,924‑square‑foot triplex in El Paso, Texas
- Two of the three units are currently leased
- Main house identified as having additional rental potential
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
$17,395
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
5.52%
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%
$347,900
$347.9K
Cap Rate 7%
$248,500
$248.5K
Cap Rate 9%
$193,278
$193.3K
Market Conditions
NOI Build-Up for 1,924 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
$26.1K $13.56/SF
− Vacancy
−$1.2K −$0.64/SF
EGI
$24.9K $12.92/SF
− OpEx
−$7.5K −$3.87/SF
NOI
$17.4K $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%
$347,900
Cap Rate 7%
$248,500
Cap Rate 9%
$193,278
Alternative Uses
Best Use
Multifamily LT 5
$248.5K
$217.4K – $289.9K
NOI $17,395 @ 7.0% cap · market cap 5.52%
Second Best
Apartment 5plus
$229.2K
$200.6K – $267.4K
NOI $16,044 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$482.7K
$422.4K – $563.1K
NOI $33,788 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
342
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?
Triplex - Three-unit income property with two leased units and seller-paid utilities, Wi-Fi, and security equipment.
Where is this triplex located?
The property is located at 3905 Leavell Ave El Paso, TX.
What is the asking price?
The asking price for this property is $315,000.
What are key features of this property?
This property features: 1,924‑square‑foot triplex in El Paso, Texas; Two of the three units are currently leased; Main house identified as having additional rental potential
