Jefferson Apartments

Value-Add Potential
Current in-place rents are below market rates, providing a clear value-add opportunity for investors. By aligning rents with the market during lease renewals, investors can realize substantial Net Operating Income (NOI) growth.
Additional NOI upside can be achieved through targeted cosmetic improvements to unit interiors, further enhancing the asset’s competitive position in the market.
Economic Base and Market Dynamics
Waco’s multifamily market benefits from a diversified and expanding economic foundation, supported by several key drivers:
Baylor University contributes to consistent demand for rental housing due to its stable enrollment figures.
An expanding healthcare corridor enhances local employment opportunities, reinforcing economic growth.
The city’s tourism industry has witnessed significant growth over the past decade, further increasing rental demand across various property vintages.
Location Advantages
Waco’s strategic position along the I-35 corridor places it between Austin and Dallas, two of the fastest-growing metropolitan areas in the United States. This location offers several key advantages:
The city benefits from population spillover as residents seek more affordable living options compared to the larger, pricier metros.
Economic activity from both Austin and Dallas extends into Waco, creating a robust environment for business and employment growth.

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