5-Unit Apartment
For Sale
$287,000
633 Barcelona Drive, El Paso, TX 79905
R4-zoned property with studio, one-bedroom, and two-bedroom units plus recent flooring and paint updates in select apartments.
Property Size1,287 SF
Price / SF$222
Days on Market645
Property Features for 633 Barcelona Drive
General Information
Standard status
Active
Size
1,287 SF
Property subtype
Multi-Family / House Plus Unit(s)
Zoning
R4
Additional Details
Multifamily Units
5
Taxes and HOA fees
Annual Taxes
$2,024
Amenities
Yes
Washer Hookup
.00
Composition
Building Details
Year Built
1951
Listing Agency:
Cap Rate Real Estate Group
Listed By:
Cristian Anibal Olague · License #0737250
(915) 345-4379
Source:
Compass
Added: Nov 27, 2024
Changed: Sep 2
Last Checked: Sep 1 at 10:31PM
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 Cap Rate Real Estate Group
Investment Insights
Based on property information with market context.
Located at 633 Barcelona Drive in El Paso, this five-unit multifamily property includes a combination of studio, one-bedroom, and two-bedroom apartments. The unit mix provides varied residential configurations within one compact asset, while select apartments have received refreshed flooring and paint. Washer hookups are also included.
Built in 1951, the property carries R4 zoning and has a composition exterior. Its location is described near healthcare and retail employment sectors, placing the complex within a residential setting connected to established job centers. The property offers an existing five-unit configuration with a range of apartment sizes and recent interior improvements in selected units.
Built in 1951, the property carries R4 zoning and has a composition exterior. Its location is described near healthcare and retail employment sectors, placing the complex within a residential setting connected to established job centers. The property offers an existing five-unit configuration with a range of apartment sizes and recent interior improvements in selected units.
Key Highlights
- Five‑unit multifamily property at 633 Barcelona Drive
- Unit mix includes studio, one‑bedroom, and two‑bedroom apartments
- R4 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$10,732
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$214,640
$214.6K
Cap Rate 7%
$153,314
$153.3K
Cap Rate 9%
$119,244
$119.2K
Market Conditions
NOI Build-Up for 1,287 SF
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.
Gross rent
$20.5K $15.96/SF
− Vacancy
−$1.0K −$0.80/SF
EGI
$19.5K $15.16/SF
− OpEx
−$8.8K −$6.82/SF
NOI
$10.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$214,640
Cap Rate 7%
$153,314
Cap Rate 9%
$119,244
Alternative Uses
Best Use
Apartment 5plus
$153.3K
$134.2K – $178.9K
NOI $10,732 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$322.9K
$282.5K – $376.7K
NOI $22,601 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
106
Businesses Nearby
Explore this area
Business Placement
Demographics for 79905, TX
22,483
Population
9,168
Households
2.5
Avg Household Size
39
Median Age
10%
College-Educated
58%
High-School Grad
6.6 sq mi
ZIP Area
3,407
Density / Sq Mi
$25,496
Median Household Income
$21,636
Median Earnings
$646
Median Rent
$103,900
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 - R4-zoned property with studio, one-bedroom, and two-bedroom units plus recent flooring and paint updates in select apartments.
Where is this apartment building located?
The property is located at 633 Barcelona Drive El Paso, TX.
What is the asking price?
The asking price for this property is $287,000.
What are key features of this property?
This property features: Five‑unit multifamily property at 633 Barcelona Drive; Unit mix includes studio, one‑bedroom, and two‑bedroom apartments; R4 zoning
