Apartment Building with Five
For Sale
$380,000
501 E CLIFF Drive, El Paso, TX 79902
MULTI_FAMILY - El Paso, TX
Property Size2,968 SF
Lot Size0.08 Acres
Price / SF$128.03
Days on Market86
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
Subdivision
Alexander
Elementary school
Lamar
Middle school
Wiggs
High school
Elpaso
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
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
Legal Description
42 ALEXANDER W 40 FT OF 18 TO 20 & W 40 FT OF S 12 FT OF 17 (3600 SQ FT)
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
Shingle, Composition
Listing Agency:
Keller Williams Realty
(915) 603-5293
Listed By:
Karin Ann Erickson · License #0530807
(915) 694-0339
Added: Jun 2
Changed: Aug 15
Last Checked: Aug 26 at 8:06PM
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.
Apartment building on a 0.08-acre lot with a total of 5 units, including four studio apartments and one 3-bedroom unit. The property also includes an unfinished full basement estimated at 1,300 sq ft. Construction is brick, built in 1925. Interior finishes include hardwood, ceramic tile, and laminate flooring. Heating is forced air and cooling is provided by window unit(s). Appliances referenced include a refrigerator and a free-standing gas oven. Parking is on-street, and the property is served by public sewer.
Addressed at 501 E Cliff Drive in El Paso, TX 79902, the property is zoned R5. Roof materials are composition and shingle.
Addressed at 501 E Cliff Drive in El Paso, TX 79902, the property is zoned R5. Roof materials are composition and shingle.
Key Highlights
- Five total units: four studio apartments and one 3‑bedroom unit
- Unfinished full basement estimated at 1,300 sq ft
- Brick apartment building on a 0.08‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,750
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$495,000
$495.0K
Cap Rate 7%
$353,571
$353.6K
Cap Rate 9%
$275,000
$275.0K
Market Conditions
NOI Build-Up for 2,968 SF
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.
Gross rent
$47.4K $15.96/SF
− Vacancy
−$2.4K −$0.80/SF
EGI
$45.0K $15.16/SF
− OpEx
−$20.3K −$6.82/SF
NOI
$24.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$495,000
Cap Rate 7%
$353,571
Cap Rate 9%
$275,000
Alternative Uses
Best Use
Apartment 5plus
$353.6K
$309.4K – $412.5K
NOI $24,750 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$744.6K
$651.5K – $868.7K
NOI $52,122 @ 7.0% cap · market cap 13.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,260
Businesses Nearby
Explore this area
Business Placement
Demographics for 79902, TX
20,071
Population
9,752
Households
2.1
Avg Household Size
38
Median Age
39%
College-Educated
81%
High-School Grad
6.5 sq mi
ZIP Area
3,088
Density / Sq Mi
$45,333
Median Household Income
$33,495
Median Earnings
$777
Median Rent
$223,300
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - R5 zoned apartment building with four studio units and one three-bedroom unit plus an unfinished 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 $380,000.
What are key features of this property?
This property features: Five total units: four studio apartments and one 3‑bedroom unit; Unfinished full basement estimated at 1,300 sq ft; Brick apartment building on a 0.08‑acre lot
