| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 22nd | Poor |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 670 N Carolina Dr, El Paso, TX, 79915, US |
| Region / Metro | El Paso |
| Year of Construction | 1982 |
| Units | 66 |
| Transaction Date | 2014-03-27 |
| Transaction Price | $1,990,000 |
| Buyer | RONSTON CAPITAL INVESTMENT LLC |
| Seller | CORTESIA CORTE BELLA LLC |
670 N Carolina Dr, El Paso 66-Unit Multifamily
Neighborhood occupancy has tracked close to national norms and renter demand within the 3-mile area provides a stable tenant base, according to WDSuite’s CRE market data.
Positioned in an Inner Suburb of El Paso (C+ neighborhood rating among 189 metro neighborhoods), the area offers everyday livability drivers that matter for workforce housing. Parks access ranks in the top quartile locally, and restaurants density is competitive among El Paso neighborhoods, while childcare access is also strong — but cafes, groceries, and pharmacies are limited within the immediate neighborhood. For investors, this mix suggests resilience for daily-life needs with some retail gaps that may modestly influence convenience perception.
Neighborhood multifamily occupancy has been steady near the national middle over the past few years, supporting income stability rather than outsized vacancy risk. Median asking rents in the neighborhood remain moderate by national standards, which can aid leasing velocity; however, rent-to-income levels indicate some affordability pressure, so asset management should emphasize renewal strategy and value delivery over large step-ups.
Within a 3-mile radius, demographics show a broad renter pool with roughly half of housing units renter-occupied, creating depth for leasing and re-leasing. Even as population is expected to edge lower, WDSuite data indicate a projected increase in households and smaller average household sizes by 2028, which can expand the renter base and support occupancy stability.
Ownership costs in this part of El Paso are relatively accessible compared with many U.S. markets, which can create some competition with entry-level ownership. For multifamily investors, that dynamic tends to favor retention via service quality and modest, well-timed rent growth rather than aggressive pricing power.
Based on WDSuite’s analysis, the neighborhood compares favorably to many areas nationwide on safety, with crime indicators placing it in the top quartile nationally. Recent data also show year-over-year declines in both property and violent offense rates, a positive directional trend for tenant retention and leasing.
Safety can vary by block and through cycles; investors should underwrite to property-level measures and current comps, using neighborhood trends as context rather than as a guarantee.
Nearby corporate offices bolster the local employment base and support renter demand through commute convenience, including Freeport-McMoRan, Western Refining, and Charles Schwab.
- Freeport McMoran-El Paso — corporate offices (1.9 miles)
- Western Refining — corporate offices (7.8 miles) — HQ
- Charles Schwab — corporate offices (9.9 miles)
Built in 1982, the asset is newer than much of the surrounding housing stock, offering competitive positioning versus 1970s-era properties while still presenting room for selective upgrades to drive rents and retention. Neighborhood occupancy trends sit near national norms and moderate rents support steady leasing — according to CRE market data from WDSuite — while nearby employers provide a practical commuter base.
Within a 3-mile radius, households are projected to grow and average household size to decline, pointing to a larger pool of renting households even with a modest population dip. The ownership market is comparatively accessible, so the investment thesis favors durable cash flow with value-add through operations and targeted renovations rather than aggressive rent pushes.
- 1982 vintage offers competitive positioning versus older stock, with targeted value-add potential
- Neighborhood occupancy near national norms supports income stability
- 3-mile household growth and smaller household sizes expand the renter base
- Proximity to corporate offices underpins workforce renter demand
- Risks: accessible ownership options and affordability pressure require disciplined renewal and pricing strategy