651 E McGregor Dr - Apartments FOR SALE


Mc Gregor, TX 76657
$13,000,000 USD
805-904-8369
651 E McGregor Dr, Mc Gregor, TX for Sale
$13,000,000 USD
Apartments - FOR SALE
1/19
null | 6.22% Cap Rate

651 E McGregor Dr
Mc Gregor, TX 76657


OVERVIEW

Fully Occupied high performing multifamily in McGregor Texas. This is the only Multifamily property of its kind in McGregor with high occupancy rates, and high quality construction. 70 Unit Apartment complex including 5 residential buildings and the sales/marketing office. Sits on 4.503 acres McGregor, Texas is quickly emerging as a prime location for multifamily real estate investment due to its rapid industrial growth and strong employment base. Anchored by SpaceX’s massive rocket engine testing facility—which employs over 600 people—McGregor has become a hub for advanced manufacturing. Major new developments like the Knauf Insulation plant, the $210 million EFC Gases facility, and the Messer Group’s air-separation project are driving job creation and bringing hundreds of new workers to the area. These expansions, centered within McGregor’s 10,000-acre industrial park, are backed by city infrastructure investments and tax incentives, signaling long-term growth. With the workforce expanding and average salaries rising, demand for housing is following suit—especially among mid-skilled workers in technical and manufacturing roles. At the same time, McGregor’s housing market remains highly accessible, with median home prices around $260,000 and new residential subdivisions underway to meet growing demand. The city’s proximity to Waco and major highways positions it well for both local and commuter tenants, while its stable job market offers investors a dependable renter base. Vacancy rates remain low, and absorption is rising as more employers move in. For multifamily investors, McGregor offers a rare combination of affordability, economic momentum, and unmet housing demand—creating a strong opportunity for stable cash flow and long-term appreciation. Property marketing site available here: https://creekside.fun/

FOR SALE DETAILS

PRICE

$13,000,000 USD

PRICE/SF

$264 USD /SF

# OF UNITS

70

PRICE/UNIT

$185,714

CAP RATE

6.22%

% LEASED

94%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Creekside Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2019

PARKING SPACES

150

LAND DETAILS

LAND ACRES

4.49 AC

LAND SF

195,776 SF

ZONING

MF

APN/PARCEL ID

34-071400-001100-0

ASK ABOUT THIS PROPERTY

805-904-8369

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

805-904-8369

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.