8-Unit Apartment
For Sale
$549,900
515 W Missouri Avenue #1 2 3 4 5 6 7 8, El Paso, TX 79901
The property is zoned A3 and dates to 1913.
Property Size3,240 SF
Price / SF$169.72
Days on Market96
Property Features for 515 W Missouri Avenue #1 2 3 4 5 6 7 8
General Information
Standard status
Active
Size
3,240 SF
Property subtype
Multi Family Home
Zoning
A3
Site & Location
Neighborhood
Southside Neighborhood Association
Additional Details
Multifamily Units
8
Taxes and HOA fees
Annual Taxes
$4,000
Building Details
Building Size
3,240 SF
Year Built
1913
Stories
2
Units
8
Listing Agency:
El Paso Real Estate Company
Listed By:
Al Jurado · License #0410918
(915) 630-8373
Source:
Elpasorealestateco
Added: Jul 22
Changed: Oct 23
Last Checked: Oct 23 at 5:14PM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This eight-unit apartment property was built in 1913 and carries A3 zoning. It is located in Downtown El Paso, near Southwest University Park, UTEP, hospitals, and downtown dining and entertainment. I-10 access is convenient, and the planned Downtown Deck Plaza is also nearby.
Key Highlights
- Eight apartment units
- Built in 1913
- A3 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$27,019
Cap Rate
4.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$540,380
$540.4K
Cap Rate 7%
$385,986
$386.0K
Cap Rate 9%
$300,211
$300.2K
Market Conditions
NOI Build-Up for 3,240 SF
Gross rent
$51.7K $15.96/SF
− Vacancy
−$2.6K −$0.80/SF
EGI
$49.1K $15.16/SF
− OpEx
−$22.1K −$6.82/SF
NOI
$27.0K $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%
$540,380
Cap Rate 7%
$385,986
Cap Rate 9%
$300,211
Alternative Uses
Best Use
Apartment 5plus
$386.0K
$337.7K – $450.3K
NOI $27,019 @ 7.0% cap · market cap 4.91%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$812.8K
$711.2K – $948.3K
NOI $56,899 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,498
Businesses Nearby
Explore this area
Business Placement
Demographics for 79901, TX
10,027
Population
4,571
Households
2.2
Avg Household Size
40
Median Age
7%
College-Educated
46%
High-School Grad
2.2 sq mi
ZIP Area
4,558
Density / Sq Mi
$13,984
Median Household Income
$19,026
Median Earnings
$517
Median Rent
$93,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - The property is zoned A3 and dates to 1913.
Where is this apartment building located?
The property is located at 515 W Missouri Avenue #1 2 3 4 5 6 7 8 El Paso, TX.
What is the asking price?
The asking price for this property is $549,900.
What are key features of this property?
This property features: Eight apartment units; Built in 1913; A3 zoning
