| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 39th | Poor |
| Demographics | 24th | Poor |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 7696 Alameda Ave, El Paso, TX, 79915, US |
| Region / Metro | El Paso |
| Year of Construction | 1979 |
| Units | 102 |
| Transaction Date | 2006-05-30 |
| Transaction Price | $2,709,400 |
| Buyer | EPT SAN PEDRO APARTMENTS LP |
| Seller | GANEM LEILA GOMEZ |
7696 Alameda Ave El Paso Multifamily Opportunity
Neighborhood occupancy is around the metro midpoint with a modest renter base, suggesting steady demand drivers, according to WDSuite’s CRE market data. The immediate area skews value-oriented, positioning smaller units to compete on price while management focuses on retention and lease stability.
The property sits in an Inner Suburb pocket of El Paso with a C- neighborhood rating (ranked 172 of 189 metro neighborhoods), signaling investors should underwrite conservatively and focus on asset-level execution. Amenities are sparse locally (amenity rank 153 of 189, below the metro median), and average school ratings trend below national norms, which can place more weight on on-site features and service quality to support leasing.
Rents in the neighborhood track the lower end of the metro (neighborhood median contract rent sits in the lower national percentiles), while occupancy in the neighborhood is near the national midpoint. For investors, that combination typically favors assets that can win on affordability and consistent operations rather than premium finishes. Within a 3-mile radius, roughly half of housing units are renter-occupied, indicating a meaningful tenant pool and stable multifamily demand; lease-up and renewal strategy should emphasize value and convenience.
Demographics aggregated within a 3-mile radius show modest population growth in the last five years and a rise in household counts, expanding the near-term renter base. Forward-looking data indicate smaller household sizes and further household growth even as population is projected to edge down, which can still support occupancy by bringing more households into the market. Median home values locally are lower relative to many U.S. neighborhoods, which can create some competition from ownership options; however, rent-to-income levels suggest manageable affordability pressure, supporting retention with disciplined renewal management.
Built in 1979, the asset is newer than the area’s average vintage (1966). That relative age positioning can be a competitive advantage versus older stock, while still requiring capital planning for aging systems and targeted renovations to capture value-add upside without overcapitalizing in a value-focused submarket.
Safety indicators are mixed but generally favorable in a national context. Overall crime ranks around the middle of the El Paso metro, yet the neighborhood sits above the national median for safety (top 42% nationally). Violent offense rates benchmark strongly — top quartile nationally — and have improved year over year. Property offense metrics are also in a stronger national percentile, though the most recent year shows a notable uptick, pointing to potential volatility rather than a clear trend.
For underwriting, this translates to comparatively solid violent-crime positioning versus U.S. neighborhoods, competitive within the metro, and a prudent need to monitor property-related incidents and strengthen site-level security and lighting during hold.
Nearby employers provide a diversified employment base that supports renter demand through commute convenience, led by natural resources, energy, and financial services employers listed below.
- Freeport Mcmoran-El Paso — mining & resources offices (2.2 miles)
- Western Refining — energy & refining (7.4 miles) — HQ
- Charles Schwab — financial services (9.6 miles)
This 102-unit asset with compact average floor plans is positioned for value-focused renters in an Inner Suburb location where neighborhood rents are lower and occupancy trends are around the metro midpoint. Based on CRE market data from WDSuite, the surrounding area shows a stable renter base and nationally competitive safety positioning on violent offenses, which supports day-to-day leasing. The 1979 vintage is newer than the neighborhood average, offering relative competitiveness versus older stock while leaving room for targeted systems upgrades and unit refreshes to enhance yield.
Looking ahead, 3-mile demographic data indicate continued household growth and smaller household sizes, which can expand the renter pool even if population softens. With home values comparatively accessible in the area, multifamily strategies that emphasize value, convenience, and resident services can differentiate against entry-level ownership while maintaining retention and occupancy stability.
- Relative vintage advantage (1979) versus older neighborhood stock, with targeted capex and light value-add potential.
- Household growth and smaller household sizes within 3 miles support a broader tenant base and steady leasing.
- Nationally competitive violent-crime positioning supports site-level operations and resident retention.
- Value-forward positioning can capture demand where neighborhood rents skew lower and rent-to-income remains manageable.
- Risks: amenity scarcity in the immediate area and volatility in property offenses warrant conservative underwriting and proactive security/asset management.