Creekside Apartments 651 E McGregor Dr 70 Unit Apartment Building $13,000,000 ($185,714/Unit) 6.22% Cap Rate Mc Gregor, TX 76657

Fully Occupied high performing multifamily in McGregor Texas. This is the only Multifamily property of its kind in McGregor with high occupancy rates, and high quality construction.
70 Unit Apartment complex including 5 residential buildings and the sales/marketing office. Sits on 4.503 acres
McGregor, Texas is quickly emerging as a prime location for multifamily real estate investment due to its rapid industrial growth and strong employment base. Anchored by SpaceX’s massive rocket engine testing facility—which employs over 600 people—McGregor has become a hub for advanced manufacturing. Major new developments like the Knauf Insulation plant, the $210 million EFC Gases facility, and the Messer Group’s air-separation project are driving job creation and bringing hundreds of new workers to the area. These expansions, centered within McGregor’s 10,000-acre industrial park, are backed by city infrastructure investments and tax incentives, signaling long-term growth. With the workforce expanding and average salaries rising, demand for housing is following suit—especially among mid-skilled workers in technical and manufacturing roles.
At the same time, McGregor’s housing market remains highly accessible, with median home prices around $260,000 and new residential subdivisions underway to meet growing demand. The city’s proximity to Waco and major highways positions it well for both local and commuter tenants, while its stable job market offers investors a dependable renter base. Vacancy rates remain low, and absorption is rising as more employers move in. For multifamily investors, McGregor offers a rare combination of affordability, economic momentum, and unmet housing demand—creating a strong opportunity for stable cash flow and long-term appreciation.
Property marketing site available here: https://creekside.fun/