8-Unit Apartment
For Sale
$1,100,000
8931 & 893 Marks Drive, El Paso, TX 79904
Residential Income, El Paso, TX
Property Size6,496 SF
Lot Size0.50 Acres
Price / SF$169.33
Days on Market29
Property Features for 8931 & 893 Marks Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
A2
Parking
11
Parking features
Guest, Assigned
Appliances
Washer Hookup, Refrigerator, Free-Standing Gas Oven, Dishwasher
Subdivision
Del Norte Acres
Elementary school
H R Moye
Middle school
Canyonh
High school
Irvin
Elementary school district
El Paso
Middle school district
El Paso
High school district
El Paso
Standard status
Active
APN
D36199901001700 AND D36199901001800
Size
6,496 SF
Lot size
0.50 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
10 DEL NORTE ACRES LOT 8 & 10.00 FT PT OF ADJ ALLEY WAY, AND 10 DEL NORTE ACRES LOT 9 & 10.00 FT PT OF ADJ ALLEY WAY
Tax Annual Amount
25927
Legal Description
10 DEL NORTE ACRES LOT 8 & 10.00 FT PT OF ADJ ALLEY WAY, AND 10 DEL NORTE ACRES LOT 9 & 10.00 FT PT OF ADJ ALLEY WAY
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Central
Cooling system
Ceiling Fan(s)
Amenities
refrigerated air
private yard
gated property
Building Details
Year built
2010
Number of units
8
Flooring type
Laminate, Tile
Building materials
Stucco
Roof type
Shingle
Listing Agency:
ERA Sellers & Buyers Real Esta · ERA Real Estate
(915) 585-2222
Listed By:
Veronica Garcia · License #0696447
(915) 630-3502
Added: Aug 13
Changed: Sep 8
Last Checked: Sep 10 at 11:06AM
MLS# 949309
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.
This apartment property comprises two buildings totaling 8 units and 6,496 square feet on 0.5 acres. Built in 2010, the property includes four units in each building, with every unit configured as a 2-bedroom, 2-bathroom residence. Individual features include a private yard and 1-car garage, while the property is enclosed by a gate. Separate addresses for the two buildings support their sale together as one package.
The units are fully occupied, and the property is located in El Paso, Texas. Construction includes stucco exteriors, with laminate and tile flooring inside. Additional property features include assigned and guest parking, public sewer service, shingle roofing, washer hookups, refrigerators, free-standing gas ovens, and dishwashers. The property is zoned A2.
The units are fully occupied, and the property is located in El Paso, Texas. Construction includes stucco exteriors, with laminate and tile flooring inside. Additional property features include assigned and guest parking, public sewer service, shingle roofing, washer hookups, refrigerators, free-standing gas ovens, and dishwashers. The property is zoned A2.
Key Highlights
- Two buildings with 8 total units, sold together as a package
- 6,496 SF apartment property on 0.5 acres
- Each unit includes 2 bedrooms, 2 bathrooms, a private yard, and a 1‑car garage
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
$58,731
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
5.34%
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%
$1,174,620
$1.2M
Cap Rate 7%
$839,014
$839.0K
Cap Rate 9%
$652,567
$652.6K
Market Conditions
NOI Build-Up for 6,496 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
$88.1K $13.56/SF
− Vacancy
−$4.2K −$0.64/SF
EGI
$83.9K $12.92/SF
− OpEx
−$25.2K −$3.87/SF
NOI
$58.7K $9.04/SF
Area
El Paso, TX
Vacancy
4.75%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
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%
$1,174,620
Cap Rate 7%
$839,014
Cap Rate 9%
$652,567
Alternative Uses
Best Use
Multifamily LT 5
$839.0K
$734.1K – $978.9K
NOI $58,731 @ 7.0% cap · market cap 5.34%
Second Best
Apartment 5plus
$773.9K
$677.1K – $902.9K
NOI $54,171 @ 7.0% cap · market cap 4.92%
Theoretical Best
Office A
$1.63M
$1.43M – $1.90M
NOI $114,079 @ 7.0% cap · market cap 10.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
834
Businesses Nearby
Explore this area
Business Placement
Demographics for 79904, TX
31,491
Population
13,571
Households
2.3
Avg Household Size
33
Median Age
14%
College-Educated
78%
High-School Grad
12.0 sq mi
ZIP Area
2,624
Density / Sq Mi
$40,892
Median Household Income
$28,775
Median Earnings
$1,017
Median Rent
$117,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two gated buildings combine private outdoor space, garages, and established occupancy in a residential income property.
Where is this apartment building located?
The property is located at 8931 & 893 Marks Drive El Paso, TX.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Two buildings with 8 total units, sold together as a package; 6,496 SF apartment property on 0.5 acres; Each unit includes 2 bedrooms, 2 bathrooms, a private yard, and a 1‑car garage
