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Mayflower Apartments 404 E Craven Ave 20 Unit Apartment Building $1,575,000 ($78,750/Unit) Waco, TX 76705
EXECUTIVE SUMMARY
20-Unit Income-Producing Asset in the Heart of Waco TX
Located at 404 East Craven Avenue, this well-maintained 20-unit multifamily property offers a strong opportunity for investors seeking stable cash flow in one of Central Texas’s most resilient rental markets. Featuring all spacious 2-bedroom, 1-bathroom units, the property maintains approximately 95% occupancy, demonstrating consistent tenant demand and reliable income.
Built in 1965 with minimal deferred maintenance, this value-stable asset sits in a strategic central Waco location, providing residents with convenient access to nearby schools, shopping centers, restaurants, and major highways. Its proximity to downtown Waco, Baylor University, and growing employment hubs makes it an attractive option for both families and working professionals. With in-place income and upside potential, 404 E Craven Ave represents a turnkey, income-generating opportunity in a rapidly growing market.
Located at 404 East Craven Avenue, this well-maintained 20-unit multifamily property offers a strong opportunity for investors seeking stable cash flow in one of Central Texas’s most resilient rental markets. Featuring all spacious 2-bedroom, 1-bathroom units, the property maintains approximately 95% occupancy, demonstrating consistent tenant demand and reliable income.
Built in 1965 with minimal deferred maintenance, this value-stable asset sits in a strategic central Waco location, providing residents with convenient access to nearby schools, shopping centers, restaurants, and major highways. Its proximity to downtown Waco, Baylor University, and growing employment hubs makes it an attractive option for both families and working professionals. With in-place income and upside potential, 404 E Craven Ave represents a turnkey, income-generating opportunity in a rapidly growing market.
PROPERTY FACTS
| Price | $1,575,000 | Apartment Style | Low-Rise |
| Price Per Unit | $78,750 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.87 AC |
| No. Units | 20 | Building Size | 20,000 SF |
| Property Type | Multifamily | No. Stories | 1 |
| Property Subtype | Apartment | Year Built | 1965 |
| Zoning | R | ||
| Price | $1,575,000 |
| Price Per Unit | $78,750 |
| Sale Type | Investment |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.87 AC |
| Building Size | 20,000 SF |
| No. Stories | 1 |
| Year Built | 1965 |
| Zoning | R |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 20 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 20-030600-025100-0 | Improvements Assessment | $1,076,321 |
| Land Assessment | $48,090 | Total Assessment | $1,124,411 |
PROPERTY TAXES
Parcel Number
20-030600-025100-0
Land Assessment
$48,090
Improvements Assessment
$1,076,321
Total Assessment
$1,124,411
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Mayflower Apartments | 404 E Craven Ave
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