6601 May DrWaco, TX 76710

Property Details for 6601 May Dr

Year built

1970

Property size (Sq ft)

40,600 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Waco

County

McLennan

State

Texas

Latitude

31.5196

Longitude

-97.1971

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