$900,000
- Beds
- 16
- Baths
- 16.0
- sq ft
- 6,656
1808 N 8th St, Killeen, TX 76541
1808 N 8th St
Killeen, TX 76541
- 263 days on market
- Price drop $25,000↓
Fantastic investment opportunity in Killeen, TX along the I-35 Hwy corridor, just an hour north of Austin. This 16-unit complex cash flows in as-is condition, with potential for 10-20% rent increases. Close to Fort Hood military base and Samsung $17 billion chip plant that expects to bring in 3,000 new jobs. Killeen ranks as one of the most affordable and fastest growing cities in Texas (GoBankingRates report, 2024).
All units 1 bedroom, 1 bathroom ~ 416 SF per Unit
Some units recently renovated with increased rents; potential for more rent increases
First year property management fees are waived if buyer chooses to continue with current management
2023 Gross Rental Income: $95,054; NOI: $69,829; 7.75% CAP
Pro Forma Effective Rental Income: $126,060; NOI: $82,092; 9.1% CAP
Uncovered parking and individual AC & heat in each unit.
Details
Property type
Apartment
Lot size
9,460 sq ft
Price per sq ft
$136
Year built
1970
Price History
07/18/2024
NTREIS #20577134
Price change
$900,000
-2.7%
04/03/2024
NTREIS #20577134
Listed
$925,000
Schools & Community
Elementary school:
Pershingpa
Middle school:
Rancier
High school:
Killeen
School district:
Killeen ISD
Status: Active
Tomo last checked: 12/23/2024 at 9:00 AM
Listing updated: 07/18/2024 at 1:43 PM
Listed by: Matthew Marshall, Drake Real Estate & Investment Phone #: (903) 581-3737
MLS: NTREIS #20577134
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