737-255-7274
2205 Botanical Dr, Killeen, TX for Sale
Apartments - FOR SALE
1/52
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2205 Botanical Dr
Killeen, TX 76542
Killeen/Fort Cavazos


HIGHLIGHTS

  • Excellent location in Killeen with close proximity to major employment, grocery anchored shopping centers and HWY 190
  • Distinctive multiphase property with half the units built in the 1980’s and half the units built in mid 2000’s
  • Superior Rent vs. Own advantage with a 75% higher cost to own vs. renting
  • Significant operational upside can be achieved with a present owner and on-site management
  • Attractive Investment returns can be achieved with strong going in yields, high LTV coverage and a low basis

OVERVIEW

Windchase offers a unique mix of one-, two-, and three-bedroom floorplans across two construction phases. The original, built in 1983, features majority of fully renovated units, while the 2005 addition provides more classic units – delivering options that appeal to a wide range of renters. Renovated units are receiving around an $80/month premium over classic units. Perfectly positioned just off Hwy 190, the Property is within a 10-minute drive of Killeen’s major employment hubs and retail corridors. Residents enjoy unmatched convenience with the city’s largest shopping center – including HEB, Walmart, CVS, Chick Fil A, and more – located just five minutes away. Surrounding single family homes trade at an average 40% premium – roughly $80,000 higher than the Killeen MSA average – creating a $650 per month cost differential versus renting at Windchase. This affordability gap will continue to drive consistent rental demand. The Property underwrites to exceptional projected yields, supported by above-average loan to value coverage. Investors are positioned to achieve compelling leverage returns, including an estimated low 20% levered IRR.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

92

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Windchase Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1983

PARKING SPACES

146

LAND DETAILS

LAND ACRES

7.2 AC

LAND SF

313,632 SF

ZONING

B-5/R-3

APN/PARCEL ID

47767

ASK ABOUT THIS PROPERTY

Allie AndersonWalker & DunlopMore Info
737-255-7274

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Allie AndersonWalker & DunlopMore Info
737-255-7274

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.