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 ~ 416 SF per 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 AC & heat in each unit.
