Eleven06 on 35 offers investors a unique chance to acquire a well-established community with a history of stable cash flow, now featuring 100% renovated units. Over the past four years, previous ownership has invested nearly $2 million to completely overhaul the property, inside and out. The interiors now include granite countertops, washer and dryer hookups with equipment, new appliances, modern paint, updated cabinet faces, contemporary lighting and plumbing fixtures, vinyl plank flooring, curved shower rods, 2-inch faux-wood blinds, and upgraded HVAC systems. Exterior improvements feature complete exterior painting of siding and railings, solar screens, upgraded lighting, modernized branding and signage, new fencing, and enhanced landscaping for visual appeal. The amenities have been elevated with a modern redesign of the leasing office and the addition of a full business center, which is typically found only in larger properties and rare for a property of this size, providing residents with valuable space for remote work and an enhanced sense of community. Other renovations include an upgraded dog park, a full fitness center with yoga/stretching room and 24-hour access, enhanced pool furniture and surroundings, and the addition of an inviting backyard oasis that includes a dining/ grilling pavilion with picnic tables and a grill, an outdoor fire pit, swings, and hammocks.

With the majority of the heavy lifting already complete, the property is poised to take advantage of being a market leader in a submarket where the prospects for new development remain limited.

Eleven06 on 35, equipped with the dual benefit of high visibility and convenient accessibility given its presence along Interstate 35 (I-35), is poised to continue to benefit from the favorable locational attributes that inherently exist on the north side of Waco. The property is situated two miles north of N Loop 340 and Lake Shore Drive in Lacy Lakeview directly across I-35 from Texas State Technical College, L-3 Communications, and Sanderson Farms. Additionally, Eleven06 on 35 is well-positioned less than 2 miles north of Bellmead which serves as the primary retail trade area for North Waco. Major retailers including Wal-Mart Supercenter, Home Depot, and Atwoods Ranch and Home Serve as corner anchors for the area that also includes a wide range of casual dining options including Starbucks, Heitmiller Steakhouse, Cracker Barrel, Casa Ole, Wingstop, IHOP, and Whataburger, among others.

Both I-35 and US Route 77 Business allows Waco residents to efficiently travel back into the heart of Waco to access Baylor University, McLennan Community College, Magnolia Market, Cameron Park Zoo, or the two major hospital systems in Baylor Scott & White and Providence Hospital. Additionally, I-35 serves as the main north-south thoroughfare in Texas directly connecting Waco to three of the largest cities in the nation: Austin (100 miles southwest), Dallas-Fort Worth (100 miles north), and San Antonio (200 miles southwest).

The “Texas Triangle”, which refers to the shape that is naturally created when connecting DFW, Houston, Austin, and San Antonio, is comprised of nearly 18 million people. The region has been responsible for 80% of the state’s population growth since 2000 and is referred to by demographers as “an increasingly important global megalopolis” featuring a job-growth rate three times that of New York City and five times that of Los Angeles.

Direct access to I-35 positions Waco within 200 miles of 80% of Texas’ population (or 17.6 million people) and allows for quick access to four of the largest markets in the nation: Austin (100 miles south), Dallas-Fort Worth (100 miles north), San Antonio (200 miles southwest) and Houston (185 miles southeast). With San Antonio and Austin to the south, Dallas/Fort Worth to the north, Waco is easily accessible via road, rail and air. Waco’s future is extremely bright as the region continues to prosper, and more people and businesses move to Texas.

Waco, Texas is experiencing significant economic expansion with major corporations investing heavily in the region. For instance, Graphic Packaging International has planned a $1 billion investment, creating 230 jobs at its new facility in Texas Central Park, which is set to be operational in late 2025. Amazon’s $250 million fulfillment center, completed in July 2022, employs over 1,000 people, further enhancing Waco’s position within the Texas Triangle as the city’s fifth largest employer. Envases Group’s $100 million facility, opened in December 2020, added 120 jobs and Electrolit is investing $400 million in its first U.S. site, set to open in early 2026, which will create over 200 jobs. Walmart’s $380 million milk plant in Robinson will generate nearly 400 jobs, and become the first anchor tenant in the Robinson Business Park in 2026. Additionally, SpaceX’s McGregor facility, crucial for rocket testing and the ongoing development for the Starship program, provides over 600 jobs to the surrounding area. These developments underscore Waco’s strategic location and affordable appeal to top-tier companies along with its continued robust economic growth. 

Waco has especially benefitted from the effects of the Texas Triangle boom which has resulted in impressive rental growth. According to Real Page, Waco experienced 7.6% annual effective rent growth as of Q3 2025, while the market occupancy stood firm at 95.1%. With such little new supply in the market and a surge of in-bound migration, emphasized by the projected 25.7% increase in median household income by 2030 to $75,549, Waco is primed to foster a healthy rental ecosystem that will produce stable cash flow for years to come.