Waco Multifamily Investment
501 North 12th Street, Waco, TX 76701
Well-maintained 12-unit apartment building near downtown Waco.
Type:MF
Property size:
6,480 SFLot size:
0.32 AcresPrice / SF:
$131/SF- Added:
- Nov 17, 2025
- Days on Market:
- 197
- Last Refresh:
- Apr 3 at 4:59 am
Property Features for 501 North 12th Street
General Information
- Standard status
- Active
- Size
- 6,480 SF
- Lot size
- 0.32 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
- Prime location near downtown Waco, Baylor University, and major highways (IH‑35 & US‑84).
- Stable, income‑producing multi‑family property with strong rental demand.
- Walking distance to schools, parks, public transportation, and shopping centers (Waco Downtown District and Brazos Riverwalk).
- 12 well‑maintained one‑bedroom units.
- Ample, gated on‑site parking for residents.
- Located in a thriving urban area with potential for long‑term growth.
Overview
Located in Waco, Texas, Brazos Terrace Apartments presents an investment opportunity in a multi-family property. Situated at 501 N 12th Street, this property offers access to local amenities, businesses, schools, and major transportation routes. The property contains twelve one-bedroom, one-bathroom units. Each unit offers 540 square feet of living space. The building has a total area of 6,480 square feet and was built in 1982. The lot size is 0.32 acres, equivalent to 13,939.20 square feet. The location is near downtown Waco, Baylor University, and major highways (IH-35 & US-84), providing residents with access to work, shopping, dining, and recreational options. Residents have access to on-site parking. The property is within walking distance of local schools, parks, public transportation, and shopping centers, including the Waco Downtown District and the Brazos Riverwalk. The property offers a stable income-producing property with demand for rental units in the area, providing the potential for long-term growth and cash flow.
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 | $103.4k | $15.96 |
| − Vacancy | −$9.5k | −$1.47 |
| EGI | $93.9k | $14.49 |
| − OpEx | −$42.3k | −$6.52 |
| NOI | $51.6k | $7.97 |
6,480 SF · lease $15.96/SF/yr · vacancy 9.20% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$737.8K
$645.6K – $860.8K
NOI $51,648 @ 7.0% cap · market cap 6.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.71M
$1.50M – $1.99M
NOI $119,673 @ 7.0% cap · market cap 14.08%
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
- -97.141276
- Latitude
- 31.5544739
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Well-maintained 12-unit apartment building near downtown Waco.
Where is this apartment building located?
The property is located at 501 North 12th Street 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: Prime location near downtown Waco, Baylor University, and major highways (IH‑35 & US‑84).; Stable, income‑producing multi‑family property with strong rental demand.; Walking distance to schools, parks, public transportation, and shopping centers (Waco Downtown District and Brazos Riverwalk).
