Triplex with Central HVAC
1607 West Avenue Waco, TX 76707
For Sale
$400,000
Triplex offers three 3-bedroom, 1-bath units with largely preserved wood floors and in-unit stackable laundry.
Property Size3,060 SF
Price / SF$130.72
Days on Market946
Property Features for 1607 West Avenue
General Information
- Standard status
- Active
- Size
- 3,060 SF
- Property subtype
- Triplex
Building Details
- Year Built
- 1932
Listing Agency:
Fathom Realty
(888) 455-6040
Listed By:
Chelsea Hutchens · License #714731
(817) 729-0310
Source:
Xome
Added: Dec 20, 2023
Changed: Jul 22
Last Checked: Jul 23 at 3:33AM
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 Fathom Realty
Investment Insights
Based on property information with market context.
This triplex features a main up/down split layout with two 3-bedroom, 1-bath units, and a garage apartment in the rear. The front units include remodeled kitchens and bathrooms with subway tile, stone countertops, and updated hardware. Throughout most living areas, original wood floors are retained, with central HVAC servicing the front units, and each unit has an in-bath stackable laundry unit. One front unit’s stackable laundry is approximately two years old, and the other is approximately one year old.
The rear garage apartment includes a more moderate kitchen and bathroom remodel and similar finishes such as subway tile and stone countertops, with original wood floors through most of the unit and replaced carpet in one bedroom with vinyl plank. This back unit does not have central air, but it has two modern window units that will convey with the property. A large graveled, fully fenced lot with three-sided fencing and landlord-used storage space supports off-street parking.
The property is described as fully rented and includes fencing work completed in February, along with updates supporting ongoing maintenance.
The rear garage apartment includes a more moderate kitchen and bathroom remodel and similar finishes such as subway tile and stone countertops, with original wood floors through most of the unit and replaced carpet in one bedroom with vinyl plank. This back unit does not have central air, but it has two modern window units that will convey with the property. A large graveled, fully fenced lot with three-sided fencing and landlord-used storage space supports off-street parking.
The property is described as fully rented and includes fencing work completed in February, along with updates supporting ongoing maintenance.
Key Highlights
- Sanger Heights triplex on just under 1/2 acre with three 3‑bedroom, 1‑bath units
- Each unit includes stackable laundry in the bathroom (one approx. 2 years old; another approx. 1 year old)
- Central HVAC provided in the main up/down split units; electric cooling includes central air plus window air conditioning
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $41.5k | $13.56 |
| − Vacancy | −$3.6k | −$1.19 |
| EGI | $37.9k | $12.37 |
| − OpEx | −$11.4k | −$3.71 |
| NOI | $26.5k | $8.66 |
3,060 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$378.7K
$331.3K – $441.8K
NOI $26,507 @ 7.0% cap · market cap 6.63%
Second Best
Apartment 5plus
$348.4K
$304.9K – $406.5K
NOI $24,389 @ 7.0% cap · market cap 6.10%
Theoretical Best
Office A
$807.3K
$706.4K – $941.9K
NOI $56,512 @ 7.0% cap · market cap 14.13%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
FAQs
What type of property is this?
Triplex - Triplex offers three 3-bedroom, 1-bath units with largely preserved wood floors and in-unit stackable laundry.
Where is this triplex located?
The property is located at 1607 West Avenue Waco, TX.
What is the asking price?
The asking price for this property is $400,000.
What are key features of this property?
This property features: Sanger Heights triplex on just under 1/2 acre with three 3‑bedroom, 1‑bath units; Each unit includes stackable laundry in the bathroom (one approx. 2 years old; another approx. 1 year old); Central HVAC provided in the main up/down split units; electric cooling includes central air plus window air conditioning
