Well-Maintained Socorro Fourplex For
421 Panahi Road, Socorro, TX 79927
MULTI_FAMILY - Other - Socorro, TX
Property size:
2,862 SFLot size:
0.22 AcresPrice / SF:
$132/SF- Added:
- Nov 12, 2025
- Days on Market:
- 186
- Last Refresh:
- May 17 at 1:06 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 8, Bathroom 5, Bedroom 3, Bedroom 5, Bathroom 2, Bedroom 6, Bedroom 7, Bedroom 1, Bedroom 4, Bathroom 1, Bathroom 6, Bedroom 2, Bathroom 3, Bathroom 4
- 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
- Active
- 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
MLS# 933660
Listing URL
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
- Strong income property with approximately $36,000 annual gross income and potential for increased rents.
- Well‑maintained four‑plex in a high‑demand rental area.
- Each unit has individual electric/gas meters and washer/dryer hookups.
- Low‑maintenance central heating and evaporative cooling.
- Located in Socorro ISD with easy access to schools, shops, and major routes.
- Mix of unit sizes: two 1‑story (591 sq ft) and two 2‑story (840 sq ft) units.
Overview
This well-maintained fourplex is located in a strong rental area and offers a solid income opportunity. The property consists of two 1-story units, each with 2 bedrooms, 1 bathroom, and 591 square feet, and two 2-story units, each with 2 bedrooms, 1 bathroom, and 840 square feet. Each unit includes tile flooring, washer/dryer hookups, a free-standing gas oven, and individual electric and gas meters. Central heating and evaporative cooling are in place. Situated between Socorro Rd and Alameda Ave in the Socorro Independent School District, the property benefits from consistent rental demand and convenient access to schools, shops, and major routes. The lot size is 0.22 acres. The property's total size is 2862 square feet. The current gross income is approximately $36,000 per year, with the potential to increase rents and maximize overall revenue. The owner is responsible for water and sewer expenses.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$263.7K
NOI $23,733 @ 9.00% cap · cautious / downside scenario
Moderate
$339.0K
NOI $23,733 @ 7.00% cap · market / base-case scenario
Aggressive
$474.7K
NOI $23,733 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Multifamily LT 5
| 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 |
2,862 SF · lease $12.60/SF/yr · vacancy 5.98% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$339.0K
$296.7K – $395.6K
NOI $23,733 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$311.0K
$272.1K – $362.8K
NOI $21,770 @ 7.0% cap · market cap 5.73%
Theoretical Best
Office A
$517.2K
$452.6K – $603.4K
NOI $36,205 @ 7.0% cap · market cap 9.53%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quadplexes
Map
- City
- Socorro
- County
- El Paso
- State
- Texas
- Longitude
- -106.174
- Latitude
- 31.6519
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Income-generating fourplex in Socorro ISD with potential for increased revenue.
Where is this quadplex located?
The property is located at 421 Panahi Road Socorro, TX.
What is the asking price?
The asking price for this property is $380,000.
What are key features of this property?
This property features: Strong income property with approximately $36,000 annual gross income and potential for increased rents.; Well‑maintained four‑plex in a high‑demand rental area.; Each unit has individual electric/gas meters and washer/dryer hookups.
