5-Unit Multifamily
511 E Nevada Avenue El Paso, TX 79902
511 E Nevada Avenue, El Paso, TX, 79902
$399,999
For Sale
$399,999
MULTI_FAMILY - El Paso, TX
Property Size2,048 SF
Lot Size0.13 Acres
Price / SF$195.31
Days on Market50
Property Features for 511 E Nevada Avenue
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- A2
- Parking features
- Paved or Surfaced, On Street
- Appliances
- Water Heater, Refrigerator, Microwave, Free-Standing Gas Oven
- Standard status
- Active
- APN
- A46299901406900
- Size
- 2,048 SF
- Lot size
- 0.13 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- 14 ALEXANDER E 40 FT OF (17 TO 20 & S 15 FT OF 16) (5474 SQ FT)
- Tax Annual Amount
- 5678
Utilities
- Sewer type
- Public Sewer
- Cooling system
- Window Unit(s), Multi Units
Building Details
- Year built
- 1957
- Number of units
- 5
- Flooring type
- Vinyl
- Building materials
- Stucco
- Roof type
- Shingle
- Additional Structures
- Storage
Listing Agency
The Real Estate Agency
(915) 600-7666
4445 N Mesa Suite 121, El Paso, TX
Listed by
Marco Panduro · License #0796838
(915) 317-0881
Added: May 29 Checked: Jul 17 at 5:06 pm
MLS# 944818
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 5-unit multifamily investment property offers additional storage space and consists of five rental units. Public remarks indicate that three of the five units have been recently remodeled with new mini-split systems, updated flooring, and fresh interior and exterior paint.
The property is identified for sale in El Paso, Texas, and is described as being near downtown and close to UTEP.
Zoned A2, the site is listed at 0.13 acres and has an indicated total property size of 2,048 square feet. Showings require 24-hour notice.
The property is identified for sale in El Paso, Texas, and is described as being near downtown and close to UTEP.
Zoned A2, the site is listed at 0.13 acres and has an indicated total property size of 2,048 square feet. Showings require 24-hour notice.
Key Highlights
- 5‑unit investment property near downtown and close to UTEP
- Three of the five units were recently remodeled with new mini‑split systems
- Remodeled units feature updated flooring and fresh interior and exterior paint
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 | $32.7k | $15.96 |
| − Vacancy | −$1.6k | −$0.80 |
| EGI | $31.1k | $15.16 |
| − OpEx | −$14.0k | −$6.82 |
| NOI | $17.1k | $8.34 |
2,048 SF · lease $15.96/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$244.0K
$213.5K – $284.6K
NOI $17,078 @ 7.0% cap · market cap 4.27%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$513.8K
$449.6K – $599.4K
NOI $35,966 @ 7.0% cap · market cap 8.99%
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 income property with three recently remodeled units, including mini-split systems and updated interior finishes.
Where is this apartment building located?
The property is located at 511 E Nevada Avenue El Paso, TX.
What is the asking price?
The asking price for this property is $399,999.
What are key features of this property?
This property features: 5‑unit investment property near downtown and close to UTEP; Three of the five units were recently remodeled with new mini‑split systems; Remodeled units feature updated flooring and fresh interior and exterior paint
