Four-Building Apartment
For Sale
Contact for pricing
901-919 Chihuahua, El Paso, TX 79901
Renovated multifamily property with on-site management and improvements across units, building exteriors, and shared grounds.
Property Size26,292 SF
Price / SF$110.30
Days on Market9
Property Features for 901-919 Chihuahua
General Information
Standard status
Active
Size
26,292 SF
Property subtype
Multifamily
Occupancy
90%
Additional Details
Multifamily Units
51
Building Details
Year Built
1915
Year Renovated
2026
Buildings
4
Units
51
Tenancy
Multi
Construction
brick
Listing Agency:
RC Properties
Listed By:
Roland Correa · License #TX 362474
(915) 328-9992
Source:
Crexi
Added: Aug 26
Changed: Sep 1
Last Checked: Sep 1 at 10:30PM
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 RC Properties
Investment Insights
Based on property information with market context.
This apartment property comprises 51 units across four brick buildings totaling 26,292 square feet. Constructed in 1915, the complex has undergone renovation work involving the exterior facades, common grounds, and individual residences. The improvements provide a refreshed physical setting while retaining the character of the original brick construction.
The property is located at 901-919 Chihuahua in historic downtown El Paso, Texas. An on-site property manager is available during regular business hours to support day-to-day operations and tenant needs. The combination of multiple buildings, substantial unit count, and recent work across the property creates a clearly defined multifamily configuration.
The property is located at 901-919 Chihuahua in historic downtown El Paso, Texas. An on-site property manager is available during regular business hours to support day-to-day operations and tenant needs. The combination of multiple buildings, substantial unit count, and recent work across the property creates a clearly defined multifamily configuration.
Key Highlights
- 51‑unit apartment property totaling 26,292 square feet
- Four brick buildings comprise the complex
- Renovation work includes exterior facades, common grounds, and individual units
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
$219,252
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
7.56%
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%
$4,385,040
$4.4M
Cap Rate 7%
$3,132,171
$3.1M
Cap Rate 9%
$2,436,133
$2.4M
Market Conditions
NOI Build-Up for 26,292 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
$419.6K $15.96/SF
− Vacancy
−$21.0K −$0.80/SF
EGI
$398.6K $15.16/SF
− OpEx
−$179.4K −$6.82/SF
NOI
$219.3K $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%
$4,385,040
Cap Rate 7%
$3,132,171
Cap Rate 9%
$2,436,133
Alternative Uses
Best Use
Apartment 5plus
$3.13M
$2.74M – $3.65M
NOI $219,252 @ 7.0% cap · market cap 7.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.60M
$5.77M – $7.70M
NOI $461,724 @ 7.0% cap · market cap 15.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
51
Residential units
Location Intelligence
Trade Area within ½ mile
1,259
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property with on-site management and improvements across units, building exteriors, and shared grounds.
Where is this apartment building located?
The property is located at 901-919 Chihuahua El Paso, TX.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 51‑unit apartment property totaling 26,292 square feet; Four brick buildings comprise the complex; Renovation work includes exterior facades, common grounds, and individual units
