El Paso Multifamily Investment
For Sale
$1,498,500
512 Center Way, El Paso, TX 79915
COMMERCIAL - El Paso, TX
Property Size11,000 SF
Lot Size0.48 Acres
Price / SF$136.23
Days on Market94
Property Features for 512 Center Way
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
A2
Fireplace
1
Standard status
Active
APN
N44299900602500
Size
11,000 SF
Lot size
0.48 Acres
Taxes and HOA fees
Tax Description
6 NORTH LOOP GARDENS #1 10 (0.482 ACRE)
Tax Annual Amount
2025
Legal Description
6 NORTH LOOP GARDENS #1 10 (0.482 ACRE)
Building Details
Floors in Building
2
Listing Agency:
Cap Rate Real Estate Group
(915) 443-8859
Listed By:
Anibal Olague · License #0653430
(915) 443-8859
Added: Apr 29
Changed: Jun 6
Last Checked: Jul 31 at 11:06PM
MLS# 943064
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.
The property at 512 Center Way in El Paso, Texas, presents an investment opportunity with an 11-unit multifamily complex. Located in the 79915 ZIP code within the Santa Lucia neighborhood, the property is conveniently located near shopping centers such as San Jose Plaza and North Loop Shopping Center, accessible within a 10 to 11-minute walk. Ascarate Park is also nearby, approximately 7 minutes away by car. The property is situated 1.5 miles, or 3 minutes, from El Paso Community College (EPCC) Valle Verde campus. The complex consists of two-story townhomes, each featuring 2 to 3 bedrooms and 1 to 1.5 baths. Each unit provides approximately 1,000 sq ft of living space. The units feature open floor plans, refrigerated air units, and modern designer colors. The lot size is 0.48 acres. The property's location and unit features make it suitable for student renters.
Key Highlights
- 11‑unit multifamily complex at 512 Center Way Apartments in El Paso, TX 79915 (Santa Lucia neighborhood)
- Two‑story townhome layout with 2–3 bedrooms and 1–1.5 baths
- Approximately 1,000 SF per unit
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 | $175.6k | $15.96 |
| − Vacancy | −$8.8k | −$0.80 |
| EGI | $166.8k | $15.16 |
| − OpEx | −$75.1k | −$6.82 |
| NOI | $91.7k | $8.34 |
11,000 SF · lease $15.96/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,730 @ 7.0% cap · market cap 6.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.76M
$2.41M – $3.22M
NOI $193,175 @ 7.0% cap · market cap 12.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
11
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
512
Businesses Nearby
Explore this area
Business Placement
Demographics for 79915, TX
35,234
Population
14,139
Households
2.5
Avg Household Size
41
Median Age
13%
College-Educated
68%
High-School Grad
8.9 sq mi
ZIP Area
3,959
Density / Sq Mi
$35,938
Median Household Income
$25,400
Median Earnings
$808
Median Rent
$117,600
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 - Eleven-unit complex near EPCC, ideal for student housing.
Where is this apartment building located?
The property is located at 512 Center Way El Paso, TX.
What is the asking price?
The asking price for this property is $1,498,500.
What are key features of this property?
This property features: 11‑unit multifamily complex at 512 Center Way Apartments in El Paso, TX 79915 (Santa Lucia neighborhood); Two‑story townhome layout with 2–3 bedrooms and 1–1.5 baths; Approximately 1,000 SF per unit
