Five-Unit Apartment
For Sale
$430,000
501 East Cliff Drive Unit 15, El Paso, TX 79902
Small multifamily property with four studio units and one three-bedroom unit plus an unfinished basement.
Property Size2,968 SF
Price / SF$144.88
Days on Market94
Property Features for 501 East Cliff Drive Unit 15
General Information
Standard status
Active
Size
2,968 SF
Property subtype
Multi-Family / Quadruplex
Additional Details
Multifamily Units
5
Building Details
Year Built
1925
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(915) 694-0339
Listed By:
Karin Ann Erickson · License #0530807
Source:
Compass
Added: Apr 30
Changed: Jul 10
Last Checked: Jul 31 at 11:50AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Investment Insights
Based on property information with market context.
This investment property consists of five residential units, including four studio apartments and one 3-bedroom unit. In addition to the finished living space, there is an unfinished full basement of approximately 1,300 square feet, which offers extra storage or potential for future development depending on buyer plans.
The property is located at 501 East Cliff Drive in El Paso, Texas 79902. It is described as being in a desirable subdivision and positioned for convenient day-to-day access.
With a mix of studio and three-bedroom layouts, the building can support multiple household types while keeping the overall unit count compact. The unfinished basement adds flexibility for owners who value extra on-site space. This is a straightforward option for an investor or owner-operator seeking a small multifamily asset with room to customize beyond the current unit mix.
The property is located at 501 East Cliff Drive in El Paso, Texas 79902. It is described as being in a desirable subdivision and positioned for convenient day-to-day access.
With a mix of studio and three-bedroom layouts, the building can support multiple household types while keeping the overall unit count compact. The unfinished basement adds flexibility for owners who value extra on-site space. This is a straightforward option for an investor or owner-operator seeking a small multifamily asset with room to customize beyond the current unit mix.
Key Highlights
- 5‑unit multifamily property built in 1925, plus an unfinished full basement
- Unit mix includes four studio apartments and one 3‑bedroom unit
- Unfinished full basement is approximately 1,300 sq ft
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 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$744.6K
$651.5K – $868.7K
NOI $52,122 @ 7.0% cap · market cap 12.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
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 - Small multifamily property 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 East Cliff Drive Unit 15 El Paso, TX.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: 5‑unit multifamily property built in 1925, plus an unfinished full basement; Unit mix includes four studio apartments and one 3‑bedroom unit; Unfinished full basement is approximately 1,300 sq ft
