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Circle @ 1800 Offers C-Class Multifamily Near Big 12 Campus
Circle @ 1800, a two-story 168-unit community at 1800 Primrose Dr. in Waco, recently sold for an undisclosed purchase price. The property was built in 1970.
Jon Krebbs of The Multifamily Group (TMG) represented the seller and TMG’s Yonnic Land procured the buyer. TMG secured pricing to accommodate a seven-figure yield-maintenance penalty.
“This was a unique opportunity to buy a highly amenitized C-class apartment community in a high-growth market close to a Big 12 campus.” said Krebbs.
The on-site amenities include a pool, fitness center, a laundry facility, a volleyball court, a dog park, a walking trail, a picnic area with a grill, a rentable club room with a kitchen area, and a basketball and tennis court.
“There are plenty of value-add opportunities to generate strong returns given that the units are still in classic condition and there is additional land for development,” adds Land.
- ◦Sale/Acquisition
