| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 27th | Fair |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 3501 Keltner Ave, El Paso, TX, 79904, US |
| Region / Metro | El Paso |
| Year of Construction | 1972 |
| Units | 46 |
| Transaction Date | 2021-12-30 |
| Transaction Price | $1,596,000 |
| Buyer | 3501 KELTNER LLC |
| Seller | SADECO INC |
3501 Keltner Ave, El Paso TX Multifamily Investment
Inner-suburb location with strong food and grocery access supports renter demand and day-to-day convenience, according to WDSuite’s CRE market data. Neighborhood occupancy trends are middling locally, but service amenities and proximity to employment help underpin leasing resilience.
The property sits in an Inner Suburb of El Paso with a neighborhood rating of C+, competitive amenity access, and a renter base that provides depth for multifamily leasing. Neighborhood metrics indicate restaurants and groceries are readily available (both rank among the stronger concentrations locally and test in the top quartile nationally), which supports daily convenience and helps broaden appeal to working households.
Renter-occupied housing accounts for roughly two-fifths of neighborhood units, suggesting a defined tenant pool, while the broader 3-mile area shows a higher renter concentration that can aid absorption and retention for comparable assets. Neighborhood occupancy is below the metro median, so underwriting should emphasize leasing execution and asset positioning versus nearby alternatives.
Within a 3-mile radius, recent trends show modest population softness, yet household counts have increased and are projected to rise further by 2028, indicating a larger tenant base even if household sizes adjust. This outlook points to ongoing demand for rental units, particularly for cost-conscious segments where effective pricing and amenities can sustain occupancy stability.
Ownership costs in the immediate area are relatively accessible in a national context, which can introduce competition from entry-level ownership options. At the same time, neighborhood rent levels and a rent-to-income profile near 0.30 imply manageable affordability pressure for many renters, supporting lease retention when combined with practical upgrades and disciplined renewals. Based on commercial real estate analysis from WDSuite, limited park and pharmacy access in the immediate vicinity is a consideration for amenity programming at the property level.
Safety signals are mixed when viewed across geographies. Within the El Paso metro, the neighborhood’s crime rank indicates higher-than-metro-average incident rates (ranked 19 among 189 metro neighborhoods). However, compared with neighborhoods nationwide, the area places in the top quartile for safety, reflecting comparatively favorable national positioning.
Recent trend indicators also point to improvement, with both property and violent offense estimates moving lower year over year. Investors should still underwrite security, lighting, and visibility measures appropriate for the block, but the broader trajectory suggests conditions are stabilizing relative to prior periods.
Proximity to corporate offices supports workforce housing demand and commute convenience, particularly to Charles Schwab, Western Refining, and Freeport-McMoRan’s local offices noted below.
- Charles Schwab — financial services (4.3 miles)
- Western Refining — energy (5.2 miles) — HQ
- Freeport Mcmoran-El Paso — mining offices (6.1 miles)
This 46‑unit asset benefits from a renter base supported by strong neighborhood access to restaurants and groceries, plus proximity to established employers. While neighborhood occupancy runs below the metro median, the surrounding 3-mile area shows rising household counts and a projected increase through 2028, pointing to a larger tenant base and potential for steady absorption with competitive positioning. According to CRE market data from WDSuite, rent levels and the local rent-to-income profile suggest manageable affordability pressure, which can aid renewal strategies when paired with focused asset management.
Counterbalancing considerations include higher-than-metro-average crime rankings and limited nearby parks and pharmacies, which argue for practical on-site amenity and security enhancements. Overall, the location’s service convenience, commuter access to nearby employers, and a broadening household base support a durable, defensible leasing story for value-conscious renters.
- Broad tenant base: 3-mile households have grown and are projected to increase further, supporting demand depth and occupancy stability.
- Daily convenience: Strong neighborhood restaurant and grocery density enhances resident appeal and supports retention.
- Employment access: Nearby corporate offices provide commute-friendly job centers that can support leasing velocity.
- Pricing power balance: Rent levels and rent-to-income dynamics point to manageable affordability pressure with disciplined renewals.
- Risks: Below-metro occupancy, higher-than-metro crime rankings, and limited park/pharmacy access require thoughtful security and amenity planning.