Small Multifamily Income
501 E CLIFF Drive El Paso, TX 79902
501 E CLIFF Drive, El Paso, TX, 79902
$415,000
For Sale
$415,000
MULTI_FAMILY - El Paso, TX
Property Size2,968 SF
Lot Size0.08 Acres
Price / SF$139.82
Days on Market50
Property Features for 501 E CLIFF Drive
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Zoning
- R5
- Parking features
- On Street
- Appliances
- Refrigerator, Free-Standing Gas Oven
- Standard status
- Active
- APN
- A46299904206600
- Size
- 2,968 SF
- Lot size
- 0.08 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- 42 ALEXANDER W 40 FT OF 18 TO 20 & W 40 FT OF S 12 FT OF 17 (3600 SQ FT)
- Tax Annual Amount
- 8228
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Window Unit(s)
Building Details
- Year built
- 1925
- Number of units
- 5
- Flooring type
- Tile - Ceramic, Laminate, Hardwood
- Building materials
- Brick
- Roof type
- Composition, Shingle
Listing Agency
Keller Williams Realty
(915) 603-5293
12040 Tierra Este suite B206, El Paso, TX
Listed by
Karin Ann Erickson · License #0530807
(915) 694-0339
Added: Jun 2 Updated: Jul 18 at 10:04 am Checked: Jul 21 at 6:06 am
MLS# 945158
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.
This small multifamily income property offers a total of five units, consisting of four studio apartments and one three-bedroom unit. The property also includes an unfinished full basement with approximately 1,300 square feet.
The building is located at 501 E Cliff Drive in El Paso, Texas, within an R5 zoning designation.
With five residential units in place and additional unfinished basement space, the property provides a straightforward configuration for residential income use.
The building is located at 501 E Cliff Drive in El Paso, Texas, within an R5 zoning designation.
With five residential units in place and additional unfinished basement space, the property provides a straightforward configuration for residential income use.
Key Highlights
- Total 5‑unit property (4 studio apartments and 1 3‑bedroom unit)
- Unfinished full basement of about 1,300 sq ft
- Brick construction with ceramic tile, laminate, and hardwood flooring
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 | $47.4k | $15.96 |
| − Vacancy | −$2.4k | −$0.80 |
| EGI | $45.0k | $15.16 |
| − OpEx | −$20.3k | −$6.82 |
| NOI | $24.8k | $8.34 |
2,968 SF · lease $15.96/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$744.6K
$651.5K – $868.7K
NOI $52,122 @ 7.0% cap · market cap 12.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Five-unit multifamily property features four studio apartments and one three-bedroom unit with an unfinished full basement.
Where is this apartment building located?
The property is located at 501 E CLIFF Drive El Paso, TX.
What is the asking price?
The asking price for this property is $415,000.
What are key features of this property?
This property features: Total 5‑unit property (4 studio apartments and 1 3‑bedroom unit); Unfinished full basement of about 1,300 sq ft; Brick construction with ceramic tile, laminate, and hardwood flooring
