3119 Frutas Ave 16 Unit Apartment Building $600,000 ($37,500/Unit) El Paso, TX 79905
INVESTMENT HIGHLIGHTS
- Opportunity to Upgrade Classic Units
- 94.0% submarket occupancy
- Regularly Maintained CAPEX
- 6.0% submarket YoY rent growth
EXECUTIVE SUMMARY
The Go-Getters Multifamily team is pleased to present the exclusive listing of the Frutas Apartments in El Paso, TX. This 16 unit complex is comprised of 14 two-bedroom units, 1 three-bedroom unit and 1 efficiency unit across two buildings. Regular maintenance and upgrades have kept the property in shape including the upgraded parking lot, appliances and more. Additional investment in upgrading the classic units can lead to capitalizing on rental increases. This asset appeals to the investor looking to acquire at a good basis or expand upon an existing portfolio.
The Frutas Apartments are strategically located in Central El Paso only 0.25 miles from Interstate-10 giving it easy access to businesses, schools and universities across the city. The apartments are also less than 1.0 mile away from the nearest elementary and high schools as well as 4.0 miles from the University of Texas at El Paso (UTEP). The Central El Paso submarket has seen 6.0% YoY rent growth and has a current market occupancy of 94.0% for conventional units (ALN Data).
The Frutas Apartments are strategically located in Central El Paso only 0.25 miles from Interstate-10 giving it easy access to businesses, schools and universities across the city. The apartments are also less than 1.0 mile away from the nearest elementary and high schools as well as 4.0 miles from the University of Texas at El Paso (UTEP). The Central El Paso submarket has seen 6.0% YoY rent growth and has a current market occupancy of 94.0% for conventional units (ALN Data).
PROPERTY FACTS
| Price | $600,000 |
| Price Per Unit | $37,500 |
| Sale Type | Investment |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 8,736 SF |
| No. Stories | 2 |
| Year Built | 1922 |
| Parking Ratio | 1.14/1,000 SF |
UNIT AMENITIES
- Heating
- Kitchen
- Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $500.00 | - |
| 2+1 | 13 | $539.00 | - |
| 3+1 | 1 | $650.00 | - |
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Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | E014-999-0300-1100 | Improvements Assessment | $406,045 |
| Land Assessment | $28,665 | Total Assessment | $434,710 |
ZONING
| Zoning Code | M1 |
