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1101 Myrtle Ave 10 Unit Apartment Building $675,000 ($67,500/Unit) 8.15% Cap Rate El Paso, TX 79901
INVESTMENT HIGHLIGHTS
- Below Market Rents
- Can implement RUBS system
- 10 - 1 BR / 1 Bath units - 575 Sqft
- All tenants MTM
EXECUTIVE SUMMARY
Value Add Opportunity with Below Market Rents available in El Paso, Texas less than 10 minutes from UTEP. Ownership currently covers a majority of the Utilities with an opportunity to implement a RUBS system. This remarkable value-add multifamily property with below-market rents boasts a 7,107 SF building with 10 spacious units, ideal for the discerning low-rise/garden investor. Built in 1950 and zoned C-4, the property offers a valuable blend of classic charm and modern potential. Each unit is thoughtfully designed to provide comfort and convenience for residents, while the prime location ensures easy access to urban amenities and transportation. With its strong rental potential and strategic positioning within the vibrant El Paso area, this property represents a lucrative prospect for savvy multifamily investors seeking a high-performing asset in a thriving market.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$82,000
|
$12.78
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$82,000
|
$12.78
|
| Taxes |
$8,095
|
$1.26
|
| Operating Expenses |
$20,000
|
$3.12
|
| Total Expenses |
$28,095
|
$4.38
|
| Net Operating Income |
$53,905
|
$8.40
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $82,000 |
| Annual Per SF | $12.78 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $82,000 |
| Annual Per SF | $12.78 |
| Taxes | |
|---|---|
| Annual | $8,095 |
| Annual Per SF | $1.26 |
| Operating Expenses | |
|---|---|
| Annual | $20,000 |
| Annual Per SF | $3.12 |
| Total Expenses | |
|---|---|
| Annual | $28,095 |
| Annual Per SF | $4.38 |
| Net Operating Income | |
|---|---|
| Annual | $53,905 |
| Annual Per SF | $8.40 |
PROPERTY FACTS Under Contract
| Price | $675,000 | Apartment Style | Low-Rise |
| Price Per Unit | $67,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 8.15% | Building Size | 6,416 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Cross Streets | Octavia |
| Zoning | C4H - Regional Commercial | ||
| Price | $675,000 |
| Price Per Unit | $67,500 |
| Sale Type | Investment |
| Cap Rate | 8.15% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,416 SF |
| No. Stories | 2 |
| Year Built | 1950 |
| Cross Streets | Octavia |
| Zoning | C4H - Regional Commercial |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Tub/Shower
- Freezer
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Public Transportation
- Individual Locking Bedrooms
- Private Bathroom
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | $675.00 | 575 |
1 1
Walk Score®
Very Walkable (83)
PROPERTY TAXES
| Parcel Number | F607-999-0150-3600 | Total Assessment | $353,610 |
| Land Assessment | $60,000 | Annual Taxes | $8,095 ($1.26/SF) |
| Improvements Assessment | $293,610 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
F607-999-0150-3600
Land Assessment
$60,000
Improvements Assessment
$293,610
Total Assessment
$353,610
Annual Taxes
$8,095 ($1.26/SF)
Tax Year
2025
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1101 Myrtle Ave
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