501 North 12Th St, Waco, TX 76701
- Commercial real estate
- 6,480 SF
- 0.32 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 501 North 12Th St
- Year built
- 1982
- Lot size
- 0.32 lot acres
- Property type
- Commercial real estate
Description
This exceptional 12-unit apartment building, located at 501 N 12th St, Waco, TX 76701, presents a compelling value-add investment opportunity. The property, built in 1982, comprises a single, two-story building totaling 6,480 square feet on a 0.32-acre lot. Currently boasting 100% occupancy, the property features 12 one-bedroom, one-bathroom units, each approximately 540 square feet. The asking price is $1,050,000, representing $87,500 per unit and $162.04 per square foot. The current Net Operating Income (NOI) is $63,353, yielding a 6.03% cap rate. Pro-forma NOI is projected at $72,319, resulting in a 6.89% pro-forma cap rate. The property is zoned O-2: Office Residence, offering potential for future development or expansion. Its prime location in Waco, Texas, offers easy access to downtown Waco, Baylor University, and major highways (IH-35 & US-84), ensuring high demand for rental units. Residents enjoy convenient 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. This well-maintained property offers a stable income stream with significant potential for long-term growth and cash flow in a thriving Central Texas rental market. Financial details are available upon request.
Value Estimations
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Location Insight
- Map
- Local Demand
- City
- Waco
- County
- McLennan
- State
- Texas
- Longitude
- -97.1412878111
- Latitude
- 31.554155289603
