421 Panahi Road, Socorro, TX 79927
- Added:
- Nov 12, 2025
- Days on Market:
- 239
- Last Refresh:
- Jul 9 at 10:06 am
Property Features for 421 Panahi Road
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R1
- Bedrooms
- 8
- Bathrooms
- 5
- Rooms
- Bedroom 6, Bathroom 4, Bedroom 5, Bedroom 4, Bedroom 7, Bathroom 6, Bedroom 1, Bathroom 3, Bathroom 1, Bedroom 3, Bedroom 8, Bedroom 2, Bathroom 2, Bathroom 5
- Window features
- Double Pane Windows
- Interior features
- Ceiling Fan(s), Handicap Access
- Fencing
- Fenced
- Accessibility
- Accessible Approach with Ramp
- Appliances
- Disposal, Exhaust Fan, Free-Standing Gas Oven
- Standard status
- Pending
- APN
- F80000202100280
- Size
- 2,862 SF
- Lot size
- 0.22 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- 21 FRIEDMAN ESTATES #2 LOT 28
- Tax Annual Amount
- 9262
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central, Natural Gas
- Cooling system
- Evaporative Cooling, Ceiling Fan(s)
Building Details
- Year built
- 1987
- Floors in Building
- 2
- Flooring type
- Tile
- Building materials
- Stucco
- Roof type
- Flat
- Architectural style
- Other
Listing agent Jorge Daniel Leon License #0432121 (915) 667-1345
Listing office Leon Realty Group, LLC 7367 Brays Landing Dr., El Paso, TX (915) 726-7637
Listing date Nov 12, 2025
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.
HighLights
- Four‑plex built in 1987 with a mix of two 1‑story units and two 2‑story units
- Two 2‑bed/1‑bath units at 591 SF each and two 2‑bed/1‑bath units at 840 SF each
- Each unit has tile flooring, washer/dryer hookups, and a free‑standing gas oven, plus individual electric and gas meters
- Central natural gas heating and evaporative cooling for the units
- Public sewer connection; owner pays water and sewer
- Handicap access with an accessible approach and ramp; fenced property
Overview
The property is located between Socorro Rd and Alameda Ave in the Socorro Independent School District. The setting supports access to schools, shops, and major routes.
This is a suitable offering for investors seeking a residential income property with individually metered utilities and a mix of 1-story and 2-story unit configurations. Owner responsibility is limited to water and sewer, with electric and gas metered separately per unit. Current gross income is approximately $36,000 per year.
Local Financial Insights For Multifamily LT 5
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 | $36.1k | $12.60 |
| − Vacancy | −$2.2k | −$0.75 |
| EGI | $33.9k | $11.85 |
| − OpEx | −$10.2k | −$3.55 |
| NOI | $23.7k | $8.29 |
Alternative Uses
Current Use by Public Records
Map
- City
- Socorro
- County
- El Paso
- State
- Texas
- Longitude
- -106.279561
- Latitude
- 31.619816
