Address: 1808 N 8th St, Killeen, TX 76541, USA
Created date: April 2, 2024
Date last updated: September 12, 2024
- 16-unit apartment complex — Please see brochure for more details
- All units 1 bedroom / 1 bathroom | ~ 416 SF / Unit
- Some units recently renovated with increased rents; potential for more rent increases
- First year property management fees are waived if buyer chooses to continue with current management
- 2023 Gross Rental Income: $95,054 | NOI: $69,829 | 7.75% CAP
- Pro Forma Effective Rental Income: $126,060 | NOI: $82,092 | 9.1% CAP
- Uncovered parking and individual A/C & heat in each unit
Property Description
Fantastic investment opportunity in Killeen, TX along the I-35 Hwy corridor, just an hour north of Austin. This 16-unit complex cash flows in as-is condition, with potential for 10-20% rent increases. Close to Fort Hood military base and Samsung $17 billion chip plant that expects to bring in 3,000 new jobs. Killeen ranks as one of the most affordable and fastest growing cities in Texas (GoBankingRates report, 2024).