Frutas Apartments
$640,000
3119 Frutas Avenue, El Paso, TX 79905
9,620 sqft
Building Size
16
Units
Details:
Description:
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).
Opportunity to Upgrade Classic Units
Regularly Maintained CAPEX
94.0% submarket occupancy
6.0% submarket YoY rent growth
Documents:
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Location
Gallery
