Northwind Apartments 5111 Interstate 35 N 71 Unité Immeuble d’appartements À vendre Waco, TX 76705

Summary:
The Multifamily Group is pleased to present Northwind Apartments, an exclusive 71-unit opportunity in Waco, Texas. Built in 1978, the property is strategically located along Interstate-35 and offers exceptional visibility and connectivity, positioned just 90 minutes from Dallas and Austin. The property is currently 86% occupied, compared to a strong 95% in the surrounding submarket, presenting immediate upside through focused leasing and marketing efforts. Additionally, three down units will require $12,000 each to repair. Northwind is being offered free and clear of existing debt.
Location:
The Waco metro is among the fastest-growing in Texas, with the population projected to exceed 323,000 by 2040. Northwind sits next to a convenience store and gas station and is less than one mile from Texas State Technical College, with additional economic anchors such as Baylor University and McLennan Community College only minutes away. Additionally, Downtown Waco features a thriving mix of museums, galleries, restaurants, entertainment venues, and major redevelopment initiatives.
Recent & Upcoming Growth in Waco:
Downtown Redevelopment & Mixed-Use Districts:
Waco’s Downtown Redevelopment Project is launching with the Barron’s Branch District, part of a planned ~100-acre “live-work-play” redevelopment. This signals a multi-billion-dollar public/private investment over the coming decades.
Alice Martinez Rodriguez Park:
The former site of Baylor’s Floyd Casey Stadium is being transformed into a 30-acre mixed-use regional park with green space and recreational amenities.
Mobility Corridor Initiative:
Waco is planning to introduce futuristic mobility technologies along a 9-mile corridor spanning Taylor Street, Franklin Avenue, and Highway 84, with intersections into downtown.
Forecasted Population Growth:
The Perryman Group projects Waco’s MSA population to reach approximately 323,000 by 2040.