Waco’s 119-unit Car Mel sells

​​​​WACO - Car Mel, a 119-unit apartment property, has sold.

Car Mel is located at 3638 W. Waco Dr., just one-half mile northeast of North Valley Mills Dr. 

Constructed in 1974, the property is situated on approximately 4.15 acres of land adjacent to the Castle Heights neighborhood. 

The community consists of 16 apartment buildings and three amenity buildings and has a unit mix of 94 one-bedroom/one-bath units, 16 two-bedroom/one-bath units, eight two-bedroom/two-bath units and one three-bedroom/three-bath unit. 

Historically, Car Mel has successfully maintained occupancy rates in the mid-to-high 90 percent range.