| 1500 Lakeshore
Waco, Texas 
INVESTMENT HIGHLIGHTS
Great CASH FLOW properties! LOW purchase price of ONLY $48,701 to $82,826. Property management fees are only 5%. Can be purchased with as little as $0 DOWN.
PROPERTY OVERVIEW
Situated on a four-acre parcel below a wooded bluff, the property consists of nine buildings, totaling 52 units. 1500 LAKESHORE offers high quality and great value at prices that allow investors to purchase with a positive cash flow. 1500 LAKESHORE is located in Waco, Texas. The property lies in a scenic pocket between Lake Waco and the The Brazos River, close to colleges, parks and shopping. Lakeshore Drive is just off the I-35 Highway, which is heavily traveled from Austin to Dallas/Fort Worth. Locally, the I-35 is the primary access route for Waco's colleges and universities, and also the main thoroughfare used by commuters to reach many of area's largest employers (see below). Lakeshore is also the route the President travels from Waco's regional airport to reach his ranch in nearby Crawford. A FOUR-ACRE, PARK-LIKE ENVIRONMENT Nestled on a green slope below a wooded bluff. 9 buildings containing 52 units in all. Fully secured with perimeter fencing and automated key-entry gate. Ample parking and newly paved driveway and parking lot. Beautiful new swimming pool and poolside terrace. Walking paths, open lawns, and beautiful trees.
BRIGHT, COMPLETELY UPDATED CONDOMINIUMS All new, well-designed kitchens and bathrooms. All new windows, doors and patio doors, hardware, fixtures, and lighting. All new wood, carpet, and tile flooring. All new cabinets, appliances, fixtures, and countertops. Inviting interiors with ceiling fans, newly painted inside and out. New roofs, new siding, new HVAC units. Fully landscaped and well-maintained grounds. Swimming pool. Fully fenced with security gates. Fully wired for high speed Internet and cable. FREE cable service - 78 channels.
LOCAL INFORMATION | Nearby Destinations | Waco Lake
River Bend Water Park
The Bosque River Stage
River Bend Baseball Complex
| The Tennis Center
The Gym (completion 2005)
Cameron Park and Cameron Zoo
Disc Golf Course
| | Nearby Institutions | McLennan Community College
Baylor University
| Texas State Technical College
The Art Center of Waco
| | Nearby Employers | Allergan
AOL Time Warner
American Income Life Insurance
Blue Cross Blue Shield of Texas
Cargill Foods
Dillards
Dr. Pepper
Goodwill Industries
Level-3 Communications | Minute Maid
Pilgrim's Pride
Texas Dept. of Transportation
Texas Farm Bureau
Trane
Veteran Affairs Regional Office
Waco ISD
Wal-Mart |
WHY INVEST IN WACO, TEXAS
WACO THE CITY According to Inc. Magazine, the city of Waco currently ranks #6 amongst the top 25 cities for doing business in America. Steady job growth and an influx of people relocating to the area mean opportunities for business growth and increased demand for housing.  Last year Waco's labor force was the third fastest growing labor force in the State of Texas after Dallas/Ft. Worth and Houston! Waco's diverse employment base grew by 1,200 jobs and supported growth in a broad range of industry sectors, including housing: last year, construction starts were up by 18%. Waco is a college town, home to Baylor University, Texas Trade Tech, and McLennan Community College (MCC). Student rentals account for fully 25% of the city's housing, and nicer rental units are in great demand. The area schools are experiencing a period of tremendous growth in alumni endowments, state support, and increased enrollments. Baylor's freshman class of '04 was the biggest yet in its 160-year history. MCC is recognized as one of the state's finest community colleges, and it was recently awarded a coveted association with University of Texas. This change has stimulated a 30% increase in enrollment for this year alone and additional increases in enrollment are expected. Increased enrollments have in turn stimulated Waco's rental housing and condo sales markets. Read the article:
www.inc.com/magazine/20040301/top25.html.
FUTURE TRENDS KB Homes has arrived in Waco, and has scheduled construction of several hundred homes over the next few years. Trammell Crow has also recently entered the Waco market, coordinating a large mixed-use development designed to incorporate condominium living alongside retail shopping, theatres, and restaurants.
Within five miles of 1500 LAKESHORE, a new housing development called The Enclave is currently in construction. Located on the shore of nearby Lake Waco, it addresses the high-end market with lot prices ranging from $70,000 to $200,000, where buyers will build their custom homes to suit.
Waco's colleges and universities are enjoying a period of tremendous growth and expansion, with corresponding increases in enrollment projected over the next decade. Student housing comprises fully 25% of the city's housing stock, and newer, nicer apartment and condo rentals and sales are in strong demand.
Recognizing its need for additional housing, the city of Waco has designated the northwestern section of town (where 1500 Lake Shore is located) as its residential and recreational zone to help implement its policy.
| | GENERAL INFORMATION | | | | | | | | | | | Floor
Plan A | Floor
Plan B | Floor
Plan C, E | Floor
Plan D | | | | | | | | | | Story: | 2 | 2 | 1 | 1 | | | Bedrooms: | 3 | 2 | 2 | 1 | | | Baths: | 1.5 | 1.5 | 1 | 1 | | | Size (sq feet): | 1092 | 996 | 876 | 612 | | | | | | | |
| | FINANCIAL INFORMATION | | | | | | | | | | | Floor
Plan A | Floor
Plan B | Floor
Plan C, E | Floor
Plan D | | | | | | | | | | Original List Price: | $84,950 | $77,950 | $69,950 | $49,950 | | | Discounted Price: | $82,826 | $76,001 | $68,201 | $48,701 | | | | | | | | | | Earnest Money Deposit: | $2,000 | $2,000 | $2,000 | $2,000 | | | Assignment Fee: | $3,000 | $3,000 | $2,500 | $2,000 | | | Initial Funds Required: | $5,000 | $5,000 | $4,500 | $4,000 | | | | | | | |
| | CASH FLOW ANALYSIS* | | | | | | | | | | | Floor
Plan A | Floor
Plan B | Floor
Plan C, E | Floor
Plan D | | | | | | | | | | With a 5% Down Payment | | | Rental Income: | $895 | $795 | $725 | $550 | | | Mortgage Payment*: | -$393 | -$361 | -$324 | -$231 | | | Property Tax: | -$180 | -$177 | -$159 | -$114 | | | Home Association: | -$100 | -$100 | -$100 | -$100 | | | Property Management (5%): | -$ 45 | -$ 40 | -$ 36 | -$ 28 | | | CASH FLOW: | $177 | $117 | $106 | $77 | | | Cash on Cash Return: | 30% | 21% | 22% | 21% | | | | | | | | | | With a 10% Down Payment | | | Rental Income: | $895 | $795 | $725 | $550 | | | Mortgage Payment*: | -$373 | -$342 | -$307 | -$219 | | | Property Tax: | -$180 | -$177 | -$159 | -$114 | | | Home Association: | -$100 | -$100 | -$100 | -$100 | | | Property Management (5%): | -$ 45 | -$ 40 | -$ 36 | -$ 28 | | | CASH FLOW: | $197 | $136 | $123 | $89 | | | Cash on Cash Return: | 21% | 15% | 16% | 16% | | | | | | | | | | * Mortgage payments are based on an Interest-Only loan at 6% annual interest.
Check with your mortgage broker for current interest rates and programs available to you. | |
HOW TO PURCHASE UNITS | Step 1 | | Choose your desired units from those available. | | Step 2 | | Send us an email request for your desired units.
We will reply to your email with your purchase agreements. | | Step 3 | | Fax the signed agreements to (866) 611-3060. | | Step 4 | | Mail the completed agreement and required funds to: | | | | Norada Real Estate Investments
c/o 1500 Lakeshore
30251 Golden Lantern, Suite E-261
Laguna Niguel, CA 92677 |
Only a signed agreement with deposit will guarantee your unit.
Mortgage brokers are available upon request. Please email questions & requests to:
Deals@NoradaRealEstate.com
(Due to the continuing large volume of phone
calls, email will be given priority response.) Norada Real Estate
www.NoradaRealEstate.com
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