Five-Unit Apartment
511 East Nevada Avenue Unit AE El Paso, TX 79902
511 East Nevada Avenue Unit AE, El Paso, TX, 79902
$399,999
For Sale
$399,999
Well-located five-unit property with three remodeled units and added tenant storage space.
Property Size2,048 SF
Price / SF$195.31
Days on Market55
Property Features for 511 East Nevada Avenue Unit AE
General Information
- Standard status
- Active
- Size
- 2,048 SF
- Property subtype
- Multi-Family / House Plus Unit(s)
Building Details
- Year Built
- 1957
Listing Agency
The Real Estate Agency
(915) 317-0881
Listed by
Marco Panduro · License #0796838
(915) 317-0881
Source
Compass
Added: May 25 Checked: Jul 17 at 4:21 am
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 The Real Estate Agency
Investment Insights
Based on property information with market context.
This for-sale five-unit apartment building offers a straightforward residential income setup with multiple units in place. Three of the five units have been recently remodeled, including new mini-split systems, updated flooring, and fresh interior and exterior paint. The property also includes additional storage space, which can support tenant needs and help make the overall living experience more functional.
The building is described as being near downtown and close to UTEP, placing it within an area that should appeal to renters seeking convenient access to local employment and daily destinations. For buyers looking for an asset with some renovations already completed, the scope of interior and exterior updates on a majority of the units is a meaningful starting point.
For prospective owners, this property is positioned as a practical acquisition for continued portfolio expansion. With improvements already addressed in three units and the remaining units representing opportunities for further alignment, the building offers a clear path to bring consistency across the mix. The additional storage space further supports day-to-day tenant usability, while the recent mechanical updates in the remodeled units can help reduce near-term replacement concerns for those specific units.
The building is described as being near downtown and close to UTEP, placing it within an area that should appeal to renters seeking convenient access to local employment and daily destinations. For buyers looking for an asset with some renovations already completed, the scope of interior and exterior updates on a majority of the units is a meaningful starting point.
For prospective owners, this property is positioned as a practical acquisition for continued portfolio expansion. With improvements already addressed in three units and the remaining units representing opportunities for further alignment, the building offers a clear path to bring consistency across the mix. The additional storage space further supports day-to-day tenant usability, while the recent mechanical updates in the remodeled units can help reduce near-term replacement concerns for those specific units.
Key Highlights
- 5‑unit investment property near downtown and close to UTEP
- Three of the five units have been recently remodeled with new mini‑split systems
- Remodeled units include 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
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Well-located five-unit property with three remodeled units and added tenant storage space.
Where is this apartment building located?
The property is located at 511 East Nevada Avenue Unit AE 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 have been recently remodeled with new mini‑split systems; Remodeled units include updated flooring and fresh interior and exterior paint
