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).
All units 1 bedroom, 1 bathroom; ~ 525 sqft.
One unit recently renovated, one in process of make-ready—other 14 units could use updates, currently cash flows as-is.
First year property management fees are waived if buyer chooses to continue with current management.
2023 Gross Rental Income: $95,054; NOI: $69,829; 7.5% CAP.
Potential for rent increases with updated renovations.
Uncovered parking and individual AC & heat in each unit.
Property Type :
Residential Income
Subdivision :
Cox
County :
Bell
Style :
Residential Income
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ByOwner last updated this listing 04/29/2024 @ 21:56
MLS: 437888096
LISTED BY: Matthew Marshall, Drake Real Estate & Investment
SOURCE: NTREIS - North Texas Real Estate Information
Buyer Agency Compensation: 3%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
