400 Glenwood StEl Paso, TX 79905

Property Details for 400 Glenwood St

Year built

1929

Lot size

1.94 AC

Property size (Sq ft)

2,559 SF

Zone code

R4

Property type

Commercial real estate

APN

A438-999-0060-5300

APU

A43899900605300

Description

This exceptional investment opportunity presents a 35-unit multifamily property encompassing both apartment buildings and a mobile home park situated on a 1.94-acre lot in El Paso, Texas. Located at 400 S Glenwood St, El Paso, TX 79905, this property boasts significant value-add potential. Currently operating at 83% occupancy, the property generates a net operating income (NOI) of $172,000. The average lot rent is below market rates compared to competing parks in the area, which average 95% occupancy, indicating substantial upside for increased revenue. This presents a unique chance to capitalize on the growing demand for affordable housing in El Paso, a city with approximately 680,000 residents and a median income of $60,000. The property is zoned R4 and features public water and sewer connections with individual meters for efficient usage tracking. The sale is being conducted via auction. This is a prime opportunity to acquire a well-located, income-producing asset with considerable potential for growth and improved profitability. The property's existing infrastructure and favorable market conditions make it an attractive investment for experienced real estate investors seeking a strong return on investment.

• CAP approach

  CAP return

  Valuation

  6%

  $287,363

  6.5%

  $265,259

  7%

  $246,312

• Comparable approach

  Method

  Valuation

  Relative Method

  $425,818

  Geo Method

  $425,818

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $519,024

  Retail / Commercial

  $266,781

  Mixed-Use / Specialty

  $266,325

  Hospitality / Lodging

  $196,039

  Office

  $265,259

  Institutional / Educational

  $277,048

  Residential Income

  $324,146

  Multifamily

  $386,019

  Automotive / Energy

  $237,469

  Parking / Income-Based Land

  $81,458.80

  Restaurant / Food Service

  $139,574

  Healthcare / Senior Housing

  $272,604

Location Insight

City

El Paso

County

El Paso

State

Texas

Latitude

31.7575

Longitude

-106.42

CBSA code

21340

CBSA name

EL PASO, TX METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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