Listed by Matthews
$1,325,000
224-228 Hold St
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 14,620
Units 26
Cap Rate 10.20%
NOI $135,134
Occupancy 100%
Price per SqFt $91
Class C
Year Built 1970
Buildings 1
Stories 2
26-Unit Value-Add Multifamily Near Fort Hood with 10.2% Cap Rate
Marketing description
26-unit multifamily in Killeen, TX offered at $1,325,000 with a 10.2% cap rate. 100% occupied, value-add upside with potential rent increases of 10%+ through renovations. Located near Fort Hood, ensuring strong tenant demand. Priced at $90.63/SF and $50,962/unit.
Investment highlights
- Strong value-add upside — rents can move 10%+ through operational improvements, or 20%+ with light unit renovations.
- Uniform 1BD/1BA unit mix keeps management simple and targets the market's largest renter demographic.
- Fort Hood-driven demand — one of the country's largest military installations sits in Killeen's backyard, anchoring occupancy with a steady rotation of active-duty tenants.
- Favorable affordability story — Killeen continues to draw households priced out of major Texas metros, supporting in-migration and rental demand.
- Attractive basis at $51K/door — well below replacement cost, providing a margin of safety and long-term appreciation potential.
- Stable local economy — median household income of ~$60,000 supports rent growth without outsized affordability pressure on tenants
Seller will not consider any type of creative financing.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$135,134.00
$11,261.17/mo
Valuation Metrics
0
DSCR
10.2%
Cap Rate
10.2%
ROI
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