8-Unit Apartment
For Sale
$389,000
404 & 406 French Place #1-8, El Paso, TX 79905
R5-zoned multifamily property with all eight units occupied.
Property Size2,193 SF
Price / SF$177.38
Days on Market43
Property Features for 404 & 406 French Place #1-8
General Information
Standard status
Active
Size
2,193 SF
Property subtype
Multi Family Home
Zoning
R5
Occupancy
100%
Site & Location
Neighborhood
Val Verde Neighborhood Association
Additional Details
Multifamily Units
8
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,960
Building Details
Building Size
2,193 SF
Year Built
1951
Stories
1
Units
8
Listing Agency:
El Paso Real Estate Company
Listed By:
Al Jurado · License #0410918
(915) 630-8373
Source:
Elpasorealestateco
Added: Sep 18
Changed: Oct 26
Last Checked: Oct 29 at 8:12PM
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 El Paso Real Estate Company
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 8-unit apartment property at 404 and 406 French Place in El Paso was built in 1951. The building contains 2,193 square feet and is zoned R5, with all eight units currently occupied by long-term tenants.
The property is in El Paso’s Lower Valley, near schools, shopping, restaurants, parks, and major thoroughfares.
The property is in El Paso’s Lower Valley, near schools, shopping, restaurants, parks, and major thoroughfares.
Key Highlights
- Eight apartment units, all occupied by long‑term tenants
- 2,193 square feet of building area
- Built in 1951
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$18,288
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$365,760
$365.8K
Cap Rate 7%
$261,257
$261.3K
Cap Rate 9%
$203,200
$203.2K
Market Conditions
NOI Build-Up for 2,193 SF
Gross rent
$35.0K $15.96/SF
− Vacancy
−$1.8K −$0.80/SF
EGI
$33.3K $15.16/SF
− OpEx
−$15.0K −$6.82/SF
NOI
$18.3K $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%
$365,760
Cap Rate 7%
$261,257
Cap Rate 9%
$203,200
Alternative Uses
Best Use
Apartment 5plus
$261.3K
$228.6K – $304.8K
NOI $18,288 @ 7.0% cap · market cap 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$550.2K
$481.4K – $641.9K
NOI $38,512 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Explore this area
Business Placement
Demographics for 79905, TX
22,483
Population
9,168
Households
2.5
Avg Household Size
39
Median Age
10%
College-Educated
58%
High-School Grad
6.6 sq mi
ZIP Area
3,407
Density / Sq Mi
$25,496
Median Household Income
$21,636
Median Earnings
$646
Median Rent
$103,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - R5-zoned multifamily property with all eight units occupied.
Where is this apartment building located?
The property is located at 404 & 406 French Place #1-8 El Paso, TX.
What is the asking price?
The asking price for this property is $389,000.
What are key features of this property?
This property features: Eight apartment units, all occupied by long‑term tenants; 2,193 square feet of building area; Built in 1951
