Online Auction – University Area Residential Dev. Lot

>Real Estate Auction in

23 Thursday
January 23rd, 2020 3:00 PM

Online Auction – University Area Residential Dev. Lot

>Real Estate Auction in

Thursday at - 23rd January , 2020

Notes

Buyers premium: 10% Buyers Premium based on the high bid.
Closing: 30-Day closing, sold in As-Is, Where-Is condition, no contingencies.
Deposit Amount: 10% deposit of the Total Sale Price in guaranteed funds.
Broker Coop: 2% of the high bid will be paid to a properly registered broker at settlement.

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Auction Items For Sale

Online Real Estate Auction  University District Development Lot  Development Opportunity! 8,450 +/- SF Lot Blocks from the University of Baylor. The site is zoned R-2 for Two-Family and Attached Single-Family Residential and lies within the Zone 1 College & University Neighborhood District. The zoning and district allow for SHORT TERM RENTAL (aka AirBnB or VRBO) as well as a BOARDING HOUSE (aka Student Room Rentals). Conveniently located within blocks of I-35 and Baylor University. Although the Lot is zoned R-2, a developer can apply for a variance with the City of Waco for additional development opportunities. Note that R3B, R3C, R3D & R3E Multiple Family District zoning allows for Boarding House with maximum of 8 bedrooms so a variance may be requested with the City of Waco.

  • Approx. 8,450 +/- SF of land
  • 1/2 Mile from Baylor University
  • .15 Miles from I-35 Feeder
  • Approx. 2 Miles from Magnolia Market Silos
  • Dimensions: 50’ x 169’
  • Zoning: R-2 – Permitted Uses
    • Single-Family Dwelling
    • Single-Family Attached (zero lot line) Dwellings
    • Two-Family Dwellings, Duplexes
    • Bed & Breakfast Homestay Establishment
    • Short Term Rental Type I – Owner Occupied
    • Short Term Rental Type II – Non-Owner Occupied, Single-Family or Duplex
    • Boarding House Provided that the boarding house contains a maximum of 6 bedrooms & not more than 1 boarding house structure is located on the lot.
  • Utilities:
    • City Water & Sewer
  • Flood Hazard: None
  • 50’ +/- along Speight Ave
  • 50’ +/- along Alley
  • Waco, TX, located halfway between Dallas and Austin, is home to Baylor University, Texas Ranger Hall of Fame & Museum and Texas Sports Hall of Fame. Due to the popularity of HGTV’s Fixer Upper show featuring Chip & Joanna Gaines, their Magnolia Market Silo’s project now attracts over 2,000,000 visitors a year.