Multifamily Portfolio in Landon
For Sale
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21 Addi Lane, Waco, TX 76705
24-unit multifamily portfolio in Waco's Landon Branch neighborhood.
Property Size72,616 SF
Price / SF$51.64
Days on Market267
Property Features for 21 Addi Lane
General Information
Standard status
Active
Size
72,616 SF
Class
B
Property subtype
Multifamily
Zoning
Residential
Occupancy
96%
Investment Type
Stabilized
Net Operating Income
$285,820
Building Details
Year Built
2007
Year Renovated
2021
Buildings
12
Stories
2
Units
24
Listing Agency:
AMA Assets
Listed By:
Aaron Amuchastegui · License #TX
Source:
Crexi
Added: Feb 9
Changed: Oct 26
Last Checked: Nov 1 at 5:52AM
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 AMA Assets
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Investment Insights
Based on property information with market context.
This multifamily portfolio in Waco offers a mix of assets, including freestanding duplexes and fourplexes, contiguous townhouses, and a six-unit single-story apartment building. Located in the Landon Branch neighborhood, the portfolio comprises 24 units clustered around Addi Lane. These well-maintained properties form a fully operational, income-producing portfolio. The portfolio is currently 96% leased and has maintained over 90% occupancy for over four years. The buildings and townhouses are on dedicated parcels, allowing for individual sales of surplus assets. A transition from subcontractors to a maintenance employee in October has further increased cash flow. Waco's location along Interstate 35 makes it a hub for industries ranging from logistics to public administration. The adjacent buildings are positioned to attract a diverse mix of residents. Major employment hubs, including Baylor University, Doris Miller VA Medical Center, and government agencies, are within 15 minutes. Employment in Waco’s education and health services industry increased by 4.5% over 2024.
Key Highlights
- High Occupancy Rate: 96% leased, showing stable income.
- Diverse Asset Mix: Includes duplexes, fourplexes, townhouses, and a six‑unit apartment building.
- Desirable Location: In the Landon Branch neighborhood, close to Baylor University and Doris Miller VA Medical Center.
Property Analytics
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Location Intelligence
Trade Area within ½ mile
133
Businesses Nearby
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Business Placement
Demographics for 76705, TX
31,736
Population
12,107
Households
2.6
Avg Household Size
34
Median Age
17%
College-Educated
80%
High-School Grad
118.6 sq mi
ZIP Area
268
Density / Sq Mi
$54,881
Median Household Income
$33,076
Median Earnings
$941
Median Rent
$167,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Multifamily property - 24-unit multifamily portfolio in Waco's Landon Branch neighborhood.
Where is this multifamily property located?
The property is located at 21 Addi Lane Waco, TX.
What is the asking price?
The asking price for this property is $3,750,000.
What are key features of this property?
This property features: High Occupancy Rate: 96% leased, showing stable income.; Diverse Asset Mix: Includes duplexes, fourplexes, townhouses, and a six‑unit apartment building.; Desirable Location: In the Landon Branch neighborhood, close to Baylor University and Doris Miller VA Medical Center.
