Updated Multifamily
1902 S 8th St Waco, TX 76706
1902 S 8th St, Waco, TX, 76706
$1,950,000
For Sale
$1,950,000
Well-maintained multifamily near Baylor with recent roof, exterior paint, and vinyl plank flooring updates.
Property Size6,889 SF
Price / SF$283.06
Days on Market64
Property Features for 1902 S 8th St
General Information
- Standard status
- Active
- Size
- 6,889 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1998
Listing agency
Compass RE Texas, LLC
(512) 575-3644
Listed by
Kristofer Kasper · License #0609931
Source
Buttross
Added: May 20 Updated: Jul 22 at 7:46AM Checked: Jul 22 at 7:46AM
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 Compass RE Texas, LLC
Investment Insights
Based on property information with market context.
This well-maintained multifamily property at 1902 S 8th St, Waco, TX 76706, has several recent updates that support day-to-day durability and curb appeal. Improvements include a new roof, fresh exterior paint, durable Hardiplank sheathing, modern vinyl plank flooring, security lighting, and updated entry pads.
The property is positioned near Baylor University, offering visibility and accessibility for tenants and visitors. The offering is currently described as producing a solid 7% cap rate. The current setup also presents an option mentioned in the materials: converting the property to condominiums and selling units individually down the line.
The property is positioned near Baylor University, offering visibility and accessibility for tenants and visitors. The offering is currently described as producing a solid 7% cap rate. The current setup also presents an option mentioned in the materials: converting the property to condominiums and selling units individually down the line.
Key Highlights
- Multifamily property built in 1998 near Baylor University
- Recent updates include roof replacement and fresh exterior paint
- Hardiplank sheathing and security lighting added
Local Financial Insights For Apartment 5plus
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 | $109.9k | $15.96 |
| − Vacancy | −$10.1k | −$1.47 |
| EGI | $99.8k | $14.49 |
| − OpEx | −$44.9k | −$6.52 |
| NOI | $54.9k | $7.97 |
6,889 SF · lease $15.96/SF/yr · vacancy 9.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$784.4K
$686.4K – $915.1K
NOI $54,908 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,226 @ 7.0% cap · market cap 6.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained multifamily near Baylor with recent roof, exterior paint, and vinyl plank flooring updates.
Where is this apartment building located?
The property is located at 1902 S 8th St Waco, TX.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: Multifamily property built in 1998 near Baylor University; Recent updates include roof replacement and fresh exterior paint; Hardiplank sheathing and security lighting added
