38-Unit Multifamily in Waco, TX
TX · listed Jul 23, 2026 (97 days)
- $/unit
- $70,395
- ▼ 24% vs TX · 32nd pct
- Cap rate
- 8%
- ▲ 0.6 pts vs TX median
- Gross yield
- —
- Units
- 38
- 2 bldg · 1965
Financials
- Asking price
- $2,675,000
- Price per unit
- $70,395
- Price per sq ft
- Not stated
- Gross rent / year
- Not stated
- Net operating income
- Not stated
- NOI per unit
- Not stated
- Cap rate
- 8%
- Gross yield
- Not stated
- Occupancy
- 100%
As stated by the seller. Verify during due diligence.
Building
- Units
- 38
- Unit mix
- 20 two-bedroom units at 404 E Craven and a mix of 18 one bedroom and 3 two bedroom units at 600 E Craven
- Buildings
- 2
- Year built
- 1965
- Building size
- Not stated
- Avg unit size
- Not stated
- Lot size
- 1.37 acres
- Condition
- Stabilized
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jul 23, 2026
- Days on market
- 97 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1521
About this property
Fully stabilized 38 unit multifamily portfolio consisting of (address on request) (20 units) and (address on request) (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.
Turnkey 38-Unit Portfolio in Waco, TX — 100% Occupied
Highlights
- All Units have been completely remodeled
- Mix of (15 - 1/1) and (3 - 2/1), ideal for single tenants or couples seeking comfort and functionality.
- Centrally located near schools, retail centers, restaurants, and key transit routes for everyday convenience.
- Strong occupancy history with stable rental income, appealing to seasoned and first-time investors alike.
- Ample parking available for tenants and guests, adding to the overall desirability of the property.
- 20 Generously Sized Units – Each featuring 2 bedrooms and 1 bathroom, ideal for families or roommates seeking comfortable living space.
- Resurfaced parking lot
- On site laundry
- Consistently high occupancy rates ensure stable and reliable cash flow.
- Property is well maintained with minimal deferred maintenance, ready for immediate tenant move-in.
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
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|---|---|---|---|
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 Waco, TXNew | $1.8M | $360K$360K | — |
 Waco, TXStabilized | $1.45M | $145K$145K | — |
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