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Mulford Terrace 1807 Mulford Dr 36 Unit Apartment Building For Sale Killeen, TX 76541
Investment Highlights
- Same Owner for Over 15 Years
- 13% Cash-on-Cash Averaged over 5 Years
- Next Door to One of the Largest Military Installations in the World: Fort Hood with 65,000+ Soldiers & Civilian Employees
- In a Qualified Opportunity Zone
- Immediate Upside through Operational Improvements
- $58,000+ Area Median Income in a 5-Mile Radius - Yardi
Executive Summary
Summary:
The Multifamily Group is pleased to present the exclusive offering of
Mulford Terrace, a unique opportunity in Killeen, Texas. Constructed in 1972, the
property consists of 36 one-bedroom/one-bathroom units averaging 573 square
feet. The property is currently 83% occupied with strong occupancy rates in the
submarket at 91%. Mulford Terrace is being offered free and clear of existing debt.
Location:
Killeen is strategically located along Interstate-14 in the heart of Central Texas, providing
convenient access to Temple, Belton, Waco, Austin, and the surrounding region.
The city is anchored by Fort Hood, one of the largest military installations in
the world, creating a strong and stable employment base alongside major healthcare,
education, and government employers. Residents benefit from an abundance
of national retailers including Walmart, H-E-B, Target, Lowe’s, Home Depot,
and the Market Heights Shopping Center, as well as a wide variety of restaurants,
entertainment, and everyday conveniences. Ongoing residential and commercial
development, combined with continued population growth and Fort Hood’s more
than $39 billion annual economic impact, reinforces Killeen’s position as one of
Central Texas’ strongest workforce housing markets.
The Multifamily Group is pleased to present the exclusive offering of
Mulford Terrace, a unique opportunity in Killeen, Texas. Constructed in 1972, the
property consists of 36 one-bedroom/one-bathroom units averaging 573 square
feet. The property is currently 83% occupied with strong occupancy rates in the
submarket at 91%. Mulford Terrace is being offered free and clear of existing debt.
Location:
Killeen is strategically located along Interstate-14 in the heart of Central Texas, providing
convenient access to Temple, Belton, Waco, Austin, and the surrounding region.
The city is anchored by Fort Hood, one of the largest military installations in
the world, creating a strong and stable employment base alongside major healthcare,
education, and government employers. Residents benefit from an abundance
of national retailers including Walmart, H-E-B, Target, Lowe’s, Home Depot,
and the Market Heights Shopping Center, as well as a wide variety of restaurants,
entertainment, and everyday conveniences. Ongoing residential and commercial
development, combined with continued population growth and Fort Hood’s more
than $39 billion annual economic impact, reinforces Killeen’s position as one of
Central Texas’ strongest workforce housing markets.
Property Facts
| Sale Type | Investment | Lot Size | 0.37 AC |
| No. Units | 36 | Building Size | 21,600 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1973 |
| Building Class | C | ||
| Zoning | R-3 | ||
| Sale Type | Investment |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.37 AC |
| Building Size | 21,600 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1973 |
| Zoning | R-3 |
Amenities
Unit Amenities
- Heating
- Security System
- Ceiling Fans
- Kitchen
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 36 | - | 550 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 17367 | Improvements Assessment | $585,665 |
| Land Assessment | $68,750 | Total Assessment | $654,415 |
Property Taxes
Parcel Number
17367
Land Assessment
$68,750
Improvements Assessment
$585,665
Total Assessment
$654,415
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