Listed by Matthews
$600,000
223 Hold Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 4,990
Units 12
Cap Rate 9.95%
NOI $47,309
Occupancy 100%
Tenancy Single
Price per SqFt $120
Class C
Year Built 1965
Buildings 3
Investment Type Net Lease
Sale Condition N/A
Value-Add 12-Unit Multifamily in Killeen, TX – 9.95% Cap Rate, 100% Occupancy
Marketing description
12-unit multifamily in Killeen, TX, offered at $600,000 (9.95% cap rate). 4,990 SF building with classic one-bed, one-bath units. 100% occupancy, strong military-driven demand, and significant value-add potential through rent increases and renovations.
Investment highlights
- Significant value-add opportunity with potential to increase rents by 10%+ through strategic renovations and operational enhancements, and 20% with light unit renovations.
- Desirable unit mix consisting of one bed one bathroom catering to a broad tenant demographic.
- Located in Killeen, home to Fort Hood (formerly Fort Cavazos), one of the largest U.S. military installations—providing a stable and consistent tenant base driven by active-duty military personnel.
- Killeen benefits from strong in-migration trends supported by its relative housing affordability compared to major Texas metros.
- Offered at an attractive cost basis, presenting upside potential for long-term value appreciation.
- Market supported by solid local demographics, including a median household income of approximately $60,000.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$47,309.00
$3,942.42/mo
Valuation Metrics
0
DSCR
7.88%
Cap Rate
7.88%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Title
Brokerage Address
Name
License
Is there information that looks off?
