Listed by Matthews
$950,000
4304-4306 Lake Rd
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 11,980
Units 16
Cap Rate 7.50%
NOI $76,436
Occupancy 100%
Price per SqFt $79
Year Built 1977
Multifamily | 7.50% Cap Rate | $950,000
Investment highlights
- Attractive basis at $62,813/door — well below replacement cost, providing downside protection and long-term appreciation potential.
- Diversified unit mix — equal split of 8 one-bedroom and 8 two-bedroom units broadens tenant appeal and reduces concentration risk across the rent roll.
- Washer/dryer connections in 12 of 16 units (75%) — a meaningful amenity advantage in the Killeen market, supporting premium rents and tenant retention.
- Value-add upside — rents can move 10%+ through operational improvements, or 20%+ with light unit renovations on a 1977-vintage asset with repositioning potential.
- Fort Hood-anchored demand — one of the country's largest military installations delivers a consistent, recession-resistant tenant base of active-duty personnel and their families.
- In-migration tailwind — Killeen continues to attract households priced out of major Texas metros, supporting sustained rental demand.
- Stable local demographics — median household income of ~$60,000 supports healthy rent-to-income ratios and organic rent growth.
No creative financing will be offered, considered or responded to.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$76,436.00
$6,369.67/mo
Valuation Metrics
0
DSCR
8.05%
Cap Rate
8.05%
ROI
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