Downtown El Paso Multifamily
412 S FLORENCE Street El Paso, TX 79901
412 S FLORENCE Street, El Paso, TX, 79901
$198,900
For Sale
$198,900
COMMERCIAL - El Paso, TX
Property Size1,800 SF
Lot Size0.07 Acres
Price / SF$110.50
Days on Market64
Property Features for 412 S FLORENCE Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- A3
- Parking features
- On Street
- Fireplace
- 1
- Standard status
- Active
- APN
- C05099914008100
- Size
- 1,800 SF
- Lot size
- 0.07 Acres
Taxes and HOA fees
- Tax Year
- 3945
- Tax Description
- 140 CAMPBELL LOT 17 (3120 SQ FT)
- Tax Annual Amount
- 2025
Utilities
- Sewer type
- Public Sewer
Building Details
- Floors in Building
- 1
- Building materials
- Brick
Listing Agency
Home Pros Real Estate Group
(915) 585-8806
1035 Belvidere St., Suite 200, el paso, TX
Listed by
Michelle M Medrano
(915) 204-3259
Added: May 15 Checked: Jul 17 at 5:06 pm
MLS# 944113
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.
Located in downtown El Paso, this five-unit multifamily property at 412 S Florence Street presents an investment opportunity. The property, situated on a 3,120 sq ft lot (0.07 acres), contains approximately 1,800 sq ft of space. Currently, three units are occupied, generating immediate rental income. The remaining units offer opportunities for renovation, lease-up, or increased rental revenue. The property is conveniently located near downtown attractions, restaurants, entertainment venues, international bridges, and major highways. This location is positioned in a growing area with strong rental demand. This multifamily property is suitable for both experienced and first-time investors looking to expand their portfolio in Central El Paso.
Key Highlights
- Prime Downtown El Paso location near attractions, restaurants, entertainment, international bridges, and major highways.
- Immediate rental income from 3 occupied units.
- Value‑add opportunity through renovation and lease‑up of 2 vacant units.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $28.7k | $15.96 |
| − Vacancy | −$1.4k | −$0.80 |
| EGI | $27.3k | $15.16 |
| − OpEx | −$12.3k | −$6.82 |
| NOI | $15.0k | $8.34 |
1,800 SF · lease $15.96/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$214.4K
$187.6K – $250.2K
NOI $15,010 @ 7.0% cap · market cap 7.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$451.6K
$395.1K – $526.8K
NOI $31,610 @ 7.0% cap · market cap 15.89%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Five-unit property with income potential in a prime urban location.
Where is this apartment building located?
The property is located at 412 S FLORENCE Street El Paso, TX.
What is the asking price?
The asking price for this property is $198,900.
What are key features of this property?
This property features: Prime Downtown El Paso location near attractions, restaurants, entertainment, international bridges, and major highways.; Immediate rental income from 3 occupied units.; Value‑add opportunity through renovation and lease‑up of 2 vacant units.
