12-Unit Multifamily
1312 Wood Avenue, Waco, TX 76706
For Sale
Contact for pricing
Five rental properties near Baylor University combine duplex and four-unit residential buildings.
Property Size18,972 SF
Lot Size1.08 Acres
Price / SF$234.56
Days on Market12
Property Features for 1312 Wood Avenue
General Information
Standard status
Size
Total Parking Spaces
Lot size
Property subtype
Occupancy
Additional Details
Asking Price
Highway Access
Multifamily Units
Tenant in Place
Building Details
Buildings
Construction
Listing Agency:
The McLeod Company
Listed By:
Matthew McLeod · License TX #575417
(254) 235-0302
Source:
Crexi
Added: Oct 30
Changed: Nov 8
Last Checked: Nov 8 at 4:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of The McLeod Company
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Investment Insights
Based on property information with market context.
This multifamily offering brings together 12 residential units in six buildings across five properties. Four buildings are duplexes, and one is configured as a quadruplex. The combined building area is approximately 18,972 square feet on approximately 1.08 acres. Built between 2001 and 2004, the properties have brick and stone veneer exteriors, paved parking areas, and units equipped with appliances. All 12 units are tenant-occupied, and the properties provide 50 parking spaces in total.
The properties are near Baylor University, Downtown Waco, and Interstate 35, with residential and commercial amenities in the surrounding area. The five addresses are 1301 James Avenue, 1303 James Avenue, 1218 Wood Avenue, 1220 Wood Avenue, and 1312 Wood Avenue.
The properties are near Baylor University, Downtown Waco, and Interstate 35, with residential and commercial amenities in the surrounding area. The five addresses are 1301 James Avenue, 1303 James Avenue, 1218 Wood Avenue, 1220 Wood Avenue, and 1312 Wood Avenue.
Key Highlights
- 12 residential units across 6 buildings and 5 properties
- Approximately 18,972 square feet of building area on approximately 1.08 acres
- All 12 units are tenant‑occupied
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$164,343
Cap Rate
3.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,286,860
$3.3M
Cap Rate 7%
$2,347,757
$2.3M
Cap Rate 9%
$1,826,033
$1.8M
Market Conditions
NOI Build-Up for 18,972 SF
Gross rent
$257.3K $13.56/SF
− Vacancy
−$22.5K −$1.19/SF
EGI
$234.8K $12.37/SF
− OpEx
−$70.4K −$3.71/SF
NOI
$164.3K $8.66/SF
Area
Waco, TX
Vacancy
8.74%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,286,860
Cap Rate 7%
$2,347,757
Cap Rate 9%
$1,826,033
Alternative Uses
Best Use
Multifamily LT 5
$2.35M
$2.05M – $2.74M
NOI $164,343 @ 7.0% cap · market cap 3.69%
Second Best
Apartment 5plus
$2.16M
$1.89M – $2.52M
NOI $151,215 @ 7.0% cap · market cap 3.40%
Theoretical Best
Office A
$5.01M
$4.38M – $5.84M
NOI $350,375 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
12
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
487
Businesses Nearby
Explore this area
Business Placement
Demographics for 76706, TX
39,303
Population
16,600
Households
2.4
Avg Household Size
27
Median Age
23%
College-Educated
85%
High-School Grad
72.3 sq mi
ZIP Area
544
Density / Sq Mi
$42,277
Median Household Income
$23,954
Median Earnings
$1,063
Median Rent
$180,600
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Waco, TX
Properties on Market for Multifamily properties in Waco
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - Five rental properties near Baylor University combine duplex and four-unit residential buildings.
Where is this multifamily property located?
The property is located at 1312 Wood Avenue Waco, TX.
What is the asking price?
The asking price for this property is $4,450,000.
What are key features of this property?
This property features: 12 residential units across 6 buildings and 5 properties; Approximately 18,972 square feet of building area on approximately 1.08 acres; All 12 units are tenant‑occupied
