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8th & Wood 1902 S 8th St 5 Unit Apartment Building $2,200,000 ($440,000/Unit) 6.40% Cap Rate Waco, TX 76706
INVESTMENT HIGHLIGHTS
- Walking distance to campus
- Recently updated
EXECUTIVE SUMMARY
This well-maintained property is ideally situated in a highly sought-after location near Baylor University, offering excellent visibility and accessibility. Recent updates include a roof, fresh exterior paint, durable Hardiplank sheathing, modern vinyl plank flooring, security lighting, and updated entry pads. With these key improvements already completed, this property is well situated for investors.
The property offers strong future potential, including the possibility of converting to condominiums and selling units individually down the line. Currently offering a solid 6.4% cap rate, this is an outstanding investment opportunity in a growing and vibrant area.
The property offers strong future potential, including the possibility of converting to condominiums and selling units individually down the line. Currently offering a solid 6.4% cap rate, this is an outstanding investment opportunity in a growing and vibrant area.
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 4+2.5 | 5 | - | 1,360 |
1 1
PROPERTY TAXES
| Parcel Number | 48-001600-007102-7 | Total Assessment | $602,000 |
| Land Assessment | $318,800 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $283,200 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
48-001600-007102-7
Land Assessment
$318,800
Improvements Assessment
$283,200
Total Assessment
$602,000
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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8th & Wood | 1902 S 8th St
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