Blair’s Cove Apartments

Blair’s Cove Apartments

Waco, TX

Blair’s Cove Apartments was the ideal value-add opportunity for investors seeking both robust cash-on-cash return and capital appreciation. It is a well-established property in a fast-growing market experiencing strong occupancy and rental growth.

Property Description

Blair’s Cove Apartments consists of 256 units with an attractive mix of two- and three-bedroom units. The strong Class B submarket of Waco, TX was 96% occupied at the time of acquisition. Blair’s Cove is conveniently located inside the Texas Loop 340, next to the Waco Business District on LaSalle Avenue, and just 1.8 miles south of Baylor University. With multiple entry points, the property is highly accessible from Interstate 35, and Highways 84 and 6. Since January 2014, there has been a steady increase in occupancy, on track to reach 75-80%, and $25 to $40 rent increases with modest interior upgrades. After completing the deferred maintenance and upgrading additional units thereby increasing the appeal to local employers and students from Baylor University, there was a significant increase in occupancy and revenue.

 

Blair’s Cove Apartments Homes Receives 2016 Waco Award

WACO November 21, 2016 — Blair’s Cove Apartments Homes has been selected for the 2016 Waco Award in the Local Business category by the Waco Award Program. Each year, the Waco Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Waco area a great place to live, work and play. Various sources of information were gathered and analyzed to choose the winners in each category. The 2016 Waco Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Waco Award Program and data provided by third parties.

 

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