5-Unit Apartment
For Sale
$392,500
511 E Nevada Avenue #A-E, El Paso, TX 79902
Three units feature updated finishes and mini-split systems, with additional storage on site.
Property Size2,048 SF
Price / SF$191.65
Days on Market155
Property Features for 511 E Nevada Avenue #A-E
General Information
Standard status
Active
Size
2,048 SF
Property subtype
Multi Family Home
Zoning
A2
Site & Location
Neighborhood
Houston Park Neighborhood Association
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$5,677
Amenities
storage space
Building Details
Building Size
2,048 SF
Year Built
1957
Stories
2
Units
5
Listing Agency:
El Paso Real Estate Company
Listed By:
Al Jurado · License #0410918
(915) 630-8373
Source:
Elpasorealestateco
Added: May 29
Changed: Oct 30
Last Checked: Oct 29 at 8:16PM
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 El Paso Real Estate Company
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Investment Insights
Based on property information with market context.
This 2,048-square-foot apartment property contains five units and was built in 1957. Three units have received recent interior and exterior updates, including new flooring, fresh paint, and mini-split systems. Additional storage space is also available on the property.
The building is located at 511 E Nevada Avenue in El Paso, near downtown and close to UTEP. The property is zoned A2.
The building is located at 511 E Nevada Avenue in El Paso, near downtown and close to UTEP. The property is zoned A2.
Key Highlights
- Five‑unit apartment property totaling 2,048 square feet
- Three units updated with new flooring, fresh interior and exterior paint, and mini‑split systems
- Additional storage space on site
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,078
Cap Rate
4.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$341,560
$341.6K
Cap Rate 7%
$243,971
$244.0K
Cap Rate 9%
$189,756
$189.8K
Market Conditions
NOI Build-Up for 2,048 SF
Gross rent
$32.7K $15.96/SF
− Vacancy
−$1.6K −$0.80/SF
EGI
$31.1K $15.16/SF
− OpEx
−$14.0K −$6.82/SF
NOI
$17.1K $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 Rate 5%
$341,560
Cap Rate 7%
$243,971
Cap Rate 9%
$189,756
Alternative Uses
Best Use
Apartment 5plus
$244.0K
$213.5K – $284.6K
NOI $17,078 @ 7.0% cap · market cap 4.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$513.8K
$449.6K – $599.4K
NOI $35,966 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,918
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
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Three units feature updated finishes and mini-split systems, with additional storage on site.
Where is this apartment building located?
The property is located at 511 E Nevada Avenue #A-E El Paso, TX.
What is the asking price?
The asking price for this property is $392,500.
What are key features of this property?
This property features: Five‑unit apartment property totaling 2,048 square feet; Three units updated with new flooring, fresh interior and exterior paint, and mini‑split systems; Additional storage space on site
