6601 May DrWaco, TX 76710

For Sale
$4,000,000

49 Units, Prime Baylor Location

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 49-unit apartment building, situated in Waco, Texas, presents a compelling investment opportunity. Boasting 40,600 square feet, this Class C property, built in 1970, is ideally located near Baylor University, ensuring consistently high occupancy rates due to strong student housing demand. Its prime location offers easy access to major roadways, connecting residents to the broader Waco area and its amenities. The property benefits from a diverse tenant base, including students, young professionals, and families, creating a balanced and stable rental market. The surrounding area features abundant shopping, dining, and entertainment options, further enhancing the property's appeal. Waco's ongoing economic growth and revitalization, fueled by Baylor University and other employers, contribute to a robust job market and increased property value. The land value is assessed at $99 per square foot, and the asking price is $4,000,000, representing a price per unit of $81,633. This property offers a unique blend of strong rental income potential and long-term appreciation prospects in a thriving Texas market. The address is 6601 May Dr, Waco, TX 76710.

Highlights

  • $4,000,000 asking price for a 49-unit apartment building.
  • Excellent location near Baylor University in Waco, TX, providing strong student housing demand.
  • Easy access to major roadways and Waco amenities.
  • High rental demand from Baylor students and a diverse tenant base of young professionals and families.
  • Close proximity to shopping, dining, and entertainment.
  • Beneficial location within a growing Waco economy with a robust job market fueled by Baylor University and other employers.

Property Details for 6601 May Dr

Property type
Multifamily properties, Apartment buildings
Square Feet
40,600 SF
Class
C
Year Built
1970
Units
49

Location Insight

City
Waco
County
McLennan
State
Texas
Latitude
31.519563876719
Longitude
-97.197059846537
6601 May Dr, Waco, Texas

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6601 May Dr
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