1926 Colcord Ave Waco, TX 76707
- Commercial real estate
- 7,144 SF
- 0.38 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1926 Colcord Ave
- Year built
- 1981
- Lot size
- 0.38 lot acres
- Property size
- 7,144 SF
- Property type
- Commercial real estate
Description
This exceptional 12-unit apartment building, located at 1926 Colcord Avenue in Waco, Texas, presents a compelling investment opportunity. The property boasts a total of 7,144 square feet on a 0.38-acre lot, featuring a mix of one-bedroom, one-bathroom units, each approximately 563 square feet. Built in 1981 and renovated in 2024, the two-story building is currently 100% occupied, generating a strong net operating income (NOI) of $62,969, with a pro-forma NOI of $71,623. The asking price is $1,050,000, representing a price per unit of $87,500 and a cap rate of 6.00% (pro-forma 6.82%). The property is zoned R-3E and benefits from ample off-street parking. Its prime location in Waco offers easy access to I-35, Baylor University, the Waco Convention Center, and the Waco Riverwalk, ensuring high rental demand and convenient access to amenities. This stabilized investment property provides a solid foundation for long-term growth and consistent cash flow in a thriving Texas market. Financial details are available upon request. The property's welcoming community atmosphere and proximity to schools, shopping, and dining further enhance its appeal to tenants. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a desirable location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Waco
- County
- McLennan
- State
- Texas
- Longitude
- -97.15636163504
- Latitude
- 31.555463462503
