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600 & 404 East Craven Avenue 2 Multifamily Properties Offered at $2,675,000 in Waco, TX
Executive Summary
Fully stabilized 38 unit multifamily portfolio consisting of 404 E Craven Avenue (20 units) and 600 E Craven Avenue (18 units) in the rapidly growing Waco, Texas market. Together, these two neighboring assets offer investors 100% occupancy, immediate cash flow, diversified unit mixes, and long term appreciation potential in one of Central
Texas' strongest rental markets.
The portfolio features a total of 38 apartment units (20 two-bedroom units at 404 E Craven and a mix of 18 one bedroom and 3 two bedroom units at 600 E Craven) providing a balanced tenant base while reducing leasing risk. Both properties have undergone significant updates, are well maintained with minimal deferred maintenance, and offer ample on site parking, making them truly turnkey investments.
Strategically located near schools, shopping, restaurants, and major transportation corridors, the portfolio benefits from Waco's continued population growth, expanding employment base, and increasing demand for affordable rental housing. Investors can capitalize on stable in place income today while positioning themselves for future rent
growth and appreciation as the market continues to strengthen.
Texas' strongest rental markets.
The portfolio features a total of 38 apartment units (20 two-bedroom units at 404 E Craven and a mix of 18 one bedroom and 3 two bedroom units at 600 E Craven) providing a balanced tenant base while reducing leasing risk. Both properties have undergone significant updates, are well maintained with minimal deferred maintenance, and offer ample on site parking, making them truly turnkey investments.
Strategically located near schools, shopping, restaurants, and major transportation corridors, the portfolio benefits from Waco's continued population growth, expanding employment base, and increasing demand for affordable rental housing. Investors can capitalize on stable in place income today while positioning themselves for future rent
growth and appreciation as the market continues to strengthen.
Property Facts
| Price | $2,675,000 | Number of Properties | 2 |
| Price / SF | $91.05 / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 29,378 SF |
| Status | Active | Total Land Area | 1.32 AC |
| Price | $2,675,000 |
| Price / SF | $91.05 / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 29,378 SF |
| Total Land Area | 1.32 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
|
Mayflower Apartments
404 E Craven Ave, Waco, TX 76705 |
Multifamily | 20,000 SF | 1965 | - |
| 600 E Craven Ave, Waco, TX 76705 | Multifamily | 9,378 SF | 2000 | - |
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