8-Unit Gated Apartment
New
For Sale
$1,100,000
8931 & 8935 Marks Drive, El Paso, TX 79904
MULTI_FAMILY - El Paso, TX
Property Size6,496 SF
Lot Size0.50 Acres
Price / SF$169.33
Days on Market2
Property Features for 8931 & 8935 Marks Drive
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
A2
Parking
11
Parking features
Assigned, Guest
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
Last Checked: Aug 14 at 1:06AM
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 with 8 units across 6,496 square feet. Each residence includes 2 bedrooms, 2 bathrooms, refrigerated air, a private yard, and a 1-car garage. The gated grounds also provide assigned and guest parking, while individual units include washer hookups, refrigerators, free-standing gas ovens, and dishwashers. Laminate and tile flooring, stucco construction, shingle roofing, public sewer service, and 2010 construction complete the physical profile.
The property is located in El Paso, Texas, near major highways, shopping, dining, and everyday amenities. All 8 units are tenant occupied, and the two fourplex buildings are being offered together; each has a separate address. The property is zoned A2 and occupies 0.5 acres.
The property is located in El Paso, Texas, near major highways, shopping, dining, and everyday amenities. All 8 units are tenant occupied, and the two fourplex buildings are being offered together; each has a separate address. The property is zoned A2 and occupies 0.5 acres.
Key Highlights
- 8 units across two apartment buildings
- All 8 units currently tenant occupied
- Each unit includes 2 bedrooms, 2 bathrooms, refrigerated air, 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
$54,171
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
4.92%
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%
$1,083,420
$1.1M
Cap Rate 7%
$773,871
$773.9K
Cap Rate 9%
$601,900
$601.9K
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
$103.7K $15.96/SF
− Vacancy
−$5.2K −$0.80/SF
EGI
$98.5K $15.16/SF
− OpEx
−$44.3K −$6.82/SF
NOI
$54.2K $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%
$1,083,420
Cap Rate 7%
$773,871
Cap Rate 9%
$601,900
Alternative Uses
Best Use
Apartment 5plus
$773.9K
$677.1K – $902.9K
NOI $54,171 @ 7.0% cap · market cap 4.92%
Second Best
—
—
no second resolved use
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
148
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Two apartment buildings offer occupied residences with private outdoor space, garages, and in-unit laundry connections.
Where is this apartment building located?
The property is located at 8931 & 8935 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: 8 units across two apartment buildings; All 8 units currently tenant occupied; Each unit includes 2 bedrooms, 2 bathrooms, refrigerated air, a private yard, and a 1‑car garage
