806-777-4459
306 Gilmer St, Killeen, TX for Sale
Apartments - FOR SALE
1/19
null | Request Cap Rate

306 Gilmer St
Killeen, TX 76541
Killeen/Fort Cavazos


HIGHLIGHTS

  • High Rental Occupancy
  • Value Add - Unit Upgrades for Rent Premium
  • Value Add - RUBS to offset Water Expense
  • Metal Roofs & PVC Plumbing
  • Unit Mix - 91% 2 & 3 Bedroom Floorplans

OVERVIEW

Property Description The Gilmer Street Apartments are a 33-unit community consisting of 14 three-bedroom units, 16 two-bedroom units, 3 one-bedroom units, and a newly installed laundry room. Altogether, the property offers 77 bedrooms - a notably high count relative to its unit total, driven by the rare concentration of three-bedroom layouts in the market area. There is an opportunity to increase the existing cash flow through both upgrading units to achieve rental premiums and implementing RUBS to offset the property's water utility expenses. Additional positive attributes include consistent high occupancy, regular maintenance, metal roofs and PVC plumbing. To view the financials follow this link: https://buildout.com/website/1443847-sale Location Description The Gilmer Street Apartments are conveniently located within a 5-minute drive of the top fast food options of McDonalds, Subway, Taco Bell, Burger King, and Raising Canes. Other major points of interest include Fort Cavazos military base and Downtown Killeen which is seeing current investment from the city. The City of Killeen is located on Interstate-35 in the "Texas Triangle" which connects the major Texas metros of Dallas, Austin, Houston, and San Antonio. Killeen has seen the median income grow 9.64% from 2021-22' and population grow 5.12% since the 2020 census. Highlights High Rental Occupancy 77 Total Bedrooms across 33 Units Value Add - Unit Upgrades & RUBS

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

33

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Gilmer Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

56

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,119 SF

ZONING

R-3

APN/PARCEL ID

101260

ASK ABOUT THIS PROPERTY

Greg BrowndGo-Getters - MultifamilyMore Info
806-777-4459

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

Greg BrowndGo-Getters - MultifamilyMore Info
806-777-4459

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