515 W MISSOURI Avenue, Unit 1
Property Description
8-unit multifamily in El Paso's historic district, minutes from UTEP and downtown. All eight units occupied, producing $60,780 annual scheduled rent against $16,027 operating expenses -- $41,714 NOI at a 7.45% cap. The opportunity is flexibility: five of eight units are on month-to-month terms with a sixth just rolled, so a new owner can reposition rents immediately instead of waiting out a staggered lease stack. Bringing units to market lifts scheduled income to $68,400 (+13%), with Unit 2 alone $250/month under market. Established student and workforce tenant base, 4.63% actual collection loss YTD, taxes and insurance paid in full for 2026. Rent roll, T-12 and full OM available on request. Buyer to verify all figures including post-sale tax reassessment.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $549,900 |
| No. of Units: | 8 |
| Year Built: | 1913 |
| Lot Size: | 3,240.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $68,738 |
| Number of Bedrooms: | 0 |
| Number of Bathrooms: | 0 |
ID: 3yd-GEPARTX-948044
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