6601-6701 May Dr - Apartments FOR SALE


Waco, TX 76710
$4,125,000 USD
210-848-3312
6601-6701 May Dr, Waco, TX for Sale
$4,125,000 USD
Apartments - FOR SALE
1/16
null | Request Cap Rate

6601-6701 May Dr
Waco, TX 76710


HIGHLIGHTS

  • Centrally Located in Waco – Easy access to shopping, dining, and entertainment
  • Nearby Neighborhoods: Parkdale Viking Hills & Mountainview
  • Close to Major Employers & Universities – Baylor University & Medical District
  • lose to Major Employers & Universities – Baylor University & Medical District Growing Market: Waco’s rental market is strong, with avg. rent of $1,474
  • Affordability & Growth: While home prices dipped 7.4% in 2024, price per square foot increased 10.3%, showing market resilience
  • Prime Location Between Dallas & Austin – Attractive to renters and investors

OVERVIEW

Creole Apartments, a stabilized 49-unit multifamily asset ideally located in the heart of Waco, Texas—one of the fastest-growing cities along the I-35 corridor between Dallas and Austin. This well-maintained property offers a rare blend of location, performance, and potential, making it a standout opportunity for both seasoned and first-time investors. Strategically positioned just minutes from Baylor University, major employers, and key retail and entertainment centers, Creole Apartments sits near the established neighborhoods of Parkdale Viking Hills and Mountainview. The surrounding area boasts strong demographics, steady rental demand, and proximity to lifestyle amenities that drive long-term tenant retention. The property enjoys consistent occupancy and reliable cash flow, with immediate upside potential through targeted unit upgrades and strategic rent increases. Investors will benefit from the strong fundamentals of Waco’s multifamily market—characterized by low vacancy rates, rising rents, and economic momentum fueled by the growth of healthcare, education, logistics, and manufacturing sectors.

FOR SALE DETAILS

PRICE

$4,125,000 USD

PRICE/SF

$105 USD /SF

# OF UNITS

49

PRICE/UNIT

$84,184

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Creole Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

-

LAND DETAILS

LAND ACRES

2.15 AC

LAND SF

93,654 SF

ZONING

R3D

APN/PARCEL ID

36-005507-000104-6

ASK ABOUT THIS PROPERTY

Kyle HeffronCorpMore Info
210-848-3312

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Kyle HeffronCorpMore Info
210-848-3312

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