Waco Multifamily Investment
1926 Colcord Avenue, Waco, TX 76707
12-unit apartment complex in Waco's growing rental market.
Type:MF
Property size:
7,144 SFLot size:
0.38 AcresPrice / SF:
$118/SF- Added:
- Nov 17, 2025
- Days on Market:
- 197
- Last Refresh:
- Apr 3 at 4:59 am
Property Features for 1926 Colcord Avenue
General Information
- Standard status
- Active
- Size
- 7,144 SF
- Lot size
- 0.38 Acres
- Property subtype
- MF
Listing agent Brad Harrell, CCIM License #363789 (254) 749-7551
Listing office Onward Team at KW Commercial (254) 749-7551
Listing date Nov 17, 2025
Source Realnex
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 Onward Team at KW Commercial
HighLights
- Strong rental demand: Ensuring a steady stream of potential tenants.
- Centrally located: Near Baylor University, Waco Convention Center, and Waco Riverwalk, with easy access to I‑35.
- Investment opportunity: Well‑positioned, income‑producing property in Waco’s growing rental market.
- Features 12 units, all 1BD/1BA.
- Ample off‑street parking for residents and guests.
- Close to public transportation, schools, grocery stores, and a variety of dining and shopping options.
Overview
The 1926 Colcord Avenue Apartments, located in Waco, Texas, offer an investment opportunity in a residential area. The property features a combination of units, catering to a range of tenants. The property contains 12 units with a unit mix of 1BD/1BA. The unit size is 563 SF, and the building size is 7,144 SF. The lot size is 0.38 acres (16,552.80 SF). Built in 1981, the property is centrally located near Baylor University, the Waco Convention Center, and the Waco Riverwalk. Easy access to I-35 and other major roadways provides routes to shopping, dining, and entertainment. Situated in a high-demand rental area, the property offers off-street parking for residents and guests. The property features a community-oriented atmosphere with green spaces and outdoor areas for residents. It is close to public transportation, schools, grocery stores, and a variety of dining and shopping options. The 12-unit multifamily complex at 1926 Colcord Avenue presents an opportunity for investors seeking an income-producing property in Waco’s growing rental market. With its location, well-maintained units, and high rental demand, this property offers the potential for cash flow and long-term value appreciation.
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 | $114.0k | $15.96 |
| − Vacancy | −$10.5k | −$1.47 |
| EGI | $103.5k | $14.49 |
| − OpEx | −$46.6k | −$6.52 |
| NOI | $56.9k | $7.97 |
7,144 SF · lease $15.96/SF/yr · vacancy 9.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$813.4K
$711.8K – $949.0K
NOI $56,941 @ 7.0% cap · market cap 6.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.88M
$1.65M – $2.20M
NOI $131,935 @ 7.0% cap · market cap 15.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Waco
- County
- McLennan
- State
- Texas
- Longitude
- -97.1562038
- Latitude
- 31.5556554
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 12-unit apartment complex in Waco's growing rental market.
Where is this apartment building located?
The property is located at 1926 Colcord Avenue Waco, TX.
What is the asking price?
The asking price for this property is $849,900.
What are key features of this property?
This property features: Strong rental demand: Ensuring a steady stream of potential tenants.; Centrally located: Near Baylor University, Waco Convention Center, and Waco Riverwalk, with easy access to I‑35.; Investment opportunity: Well‑positioned, income‑producing property in Waco’s growing rental market.
