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Jefferson Apartments 925 N 26th St 20 Unit Apartment Building $1,000,000 ($50,000/Unit) Waco, TX 76707
Investment Highlights
- In-place rents below market provide immediate value-add potential through lease renewals and rent repositioning.
- Baylor University contributes to consistent demand for rental housing due to its stable enrollment figures.
- The city’s tourism industry has witnessed significant growth over the past decade, further increasing rental demand across various property vintages.
- Additional NOI upside through cosmetic interior upgrades that enhance competitiveness and support higher rental rates.
- An expanding healthcare corridor enhances local employment opportunities, reinforcing economic growth.
- The city benefits from population spillover as residents seek more affordable living options compared to the larger, pricier metros.
Executive Summary
Broker of Record
Patrick Graham
License # 9005919, 528005 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Patrick Graham
License # 9005919, 528005 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Property Facts
| Price | $1,000,000 | Apartment Style | Low-Rise |
| Price Per Unit | $50,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.58 AC |
| Gross Rent Multiplier | 7.47 | Building Size | 13,600 SF |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | ||
| Zoning | C1 | ||
| Price | $1,000,000 |
| Price Per Unit | $50,000 |
| Sale Type | Investment |
| Gross Rent Multiplier | 7.47 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.58 AC |
| Building Size | 13,600 SF |
| No. Stories | 2 |
| Year Built | 1978 |
| Zoning | C1 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 680 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 48-043800-008801-5 | Improvements Assessment | $611,940 |
| Land Assessment | $68,060 | Total Assessment | $680,000 |
Property Taxes
Parcel Number
48-043800-008801-5
Land Assessment
$68,060
Improvements Assessment
$611,940
Total Assessment
$680,000
Contacts
-
Richard Waterhouse -
Andrew Kopenec -
Buddy Gaston -
Matthews Real Estate Investment Services
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Jefferson Apartments | 925 N 26th St
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