Renovated 4-Unit
For Sale
$360,000
2601 - 2603 Summer Avenue, Waco, TX 76708
Updated apartments offer included appliances and a varied bedroom configuration for residential rental use.
Property Size2,876 SF
Days on Market13
Property Features for 2601 - 2603 Summer Avenue
General Information
Standard status
Active
Size
2,876 SF
Property subtype
Quadruplex
Building Details
Building Size
2,876 SF
Year Built
1949
Tenancy
Multi
Listing Agency:
eXp Realty - Austin
(254) 630-0997
Listed By:
Lauren Rohr · License #0716656
(254) 630-0997
Source:
Whitelabelrealty
Added: Jul 24
Changed: Aug 3
Last Checked: Aug 5 at 4:53AM
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 eXp Realty - Austin
Investment Insights
Based on property information with market context.
This four-unit quadplex at 2601 - 2603 Summer Avenue was built in 1949 and has undergone renovation. The property contains 6 bedrooms and 4 bathrooms across two 2-bedroom, 1-bath units and two 1-bedroom, 1-bath units. Appliances are included in each unit, supporting a straightforward residential setup.
The property is approximately 12 minutes from Magnolia Market at the Silos and Downtown Waco, with Baylor University about 13 minutes away. Its Waco location also places the property near shopping, dining, and major employers, as described in the listing information.
The property is approximately 12 minutes from Magnolia Market at the Silos and Downtown Waco, with Baylor University about 13 minutes away. Its Waco location also places the property near shopping, dining, and major employers, as described in the listing information.
Key Highlights
- Four‑unit multifamily property with 6 bedrooms and 4 bathrooms
- Unit mix includes two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units
- Renovated property built in 1949
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 | $39.0k | $13.56 |
| − Vacancy | −$3.4k | −$1.19 |
| EGI | $35.6k | $12.37 |
| − OpEx | −$10.7k | −$3.71 |
| NOI | $24.9k | $8.66 |
2,876 SF · lease $13.56/SF/yr · vacancy 8.74% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$355.9K
$311.4K – $415.2K
NOI $24,913 @ 7.0% cap · market cap 6.92%
Second Best
Apartment 5plus
$327.5K
$286.5K – $382.1K
NOI $22,923 @ 7.0% cap · market cap 6.37%
Theoretical Best
Office A
$758.8K
$663.9K – $885.2K
NOI $53,114 @ 7.0% cap · market cap 14.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
193
Businesses Nearby
Explore this area
Business Placement
Demographics for 76708, TX
28,499
Population
11,241
Households
2.5
Avg Household Size
35
Median Age
25%
College-Educated
85%
High-School Grad
48.1 sq mi
ZIP Area
592
Density / Sq Mi
$66,764
Median Household Income
$39,409
Median Earnings
$1,087
Median Rent
$204,600
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated apartments offer included appliances and a varied bedroom configuration for residential rental use.
Where is this quadplex located?
The property is located at 2601 - 2603 Summer Avenue Waco, TX.
What is the asking price?
The asking price for this property is $360,000.
What are key features of this property?
This property features: Four‑unit multifamily property with 6 bedrooms and 4 bathrooms; Unit mix includes two 2‑bedroom, 1‑bath units and two 1‑bedroom, 1‑bath units; Renovated property built in 1949
