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1808 N 8th Street
Killeen, TX 76541
Residential Multi Family (Apartment)
0.22 Acres
0 Sqft Living Area
16 Bedrooms
16 Bathrooms (16 Full, 0 Half)
Year Built: 1970
$900,000
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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). 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.
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Contact Details
Name: Matthew Marshall
Email: land@draketexas.com
MLS Listing Id: 20577134
Agent Phone: (903) 581-3737
List Agent License: 0544812
Office Name: Drake Real Estate & Investment
Office Phone: (903) 581-3737
Office MLS Id: DRAK01
Listing Status: Active
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Copyright © 2024 OpenHous, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
