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3300-3310 E Rancier Ave
Killeen, TX 76543
Century Plaza Apartments · Multifamily Property For Sale
·
136 Units
Investment Highlights
- Assumable Loan with $9.8MM Remaining, a 4.15% Interest Rate, and 3 years Remaining on the Term, or Qualifies for a New Agency Loan
- $55,000 AMI in a 5-Mile Radius - Yardi
- Attractive Basis Reset and ~75% LTV on Loan Assumption
- Roofs are Only 6 Years Old - Individual HVACs - Copper Wiring Throughout
- Killeen-Temple Metro has over 500,000 Residents
- Killeen was Recently Ranked as One of the Fastest-Growing Cities by U.S. News & World Report
Executive Summary
The Multifamily Group is proud to offer Century Plaza, a compelling value-add investment opportunity
Investment located in Killeen, Texas. Constructed in 1966, Century Plaza is a 256-unit community with an
average unit size of 666 square feet, currently 84% occupied. The property offers a mix of one- and
two-bedroom floorplans, including select townhome-style layouts. An attractive assumable loan is available,
with an outstanding balance of $9,800,000, a 4.15% interest rate, and approximately three years remaining
on the term. Additionally, the property is eligible for new agency financing.
Killeen is experiencing a strong wave of growth and reinvestment, signaling a shift from a primarily mil-
itary-driven town into a more diversified and expanding Central Texas market. A major catalyst is the
proposed new City Hall project, with an estimated budget of approximately $155 million. This development
is expected to anchor broader downtown revitalization efforts and attract additional public and
private investment to the area.
Infrastructure improvements are also advancing across the city. Killeen’s Capital Improvement Program
includes multiple road, utility, and public facility upgrades, with key projects along corridors like Chaparral
Road. Regionally, the continued expansion of Interstate-14 (U.S.-190) is improving connectivity to
I-35, Austin, and the surrounding Central Texas corridor, supporting both population growth and com-
muter access.
Retail and commercial development is accelerating as well. The Killeen Mall is undergoing revitalization
after its recent acquisition, with new tenants such as HomeGoods, T.J. Maxx, and Five Below
opening through 2025. Additional projects along major corridors include LongHorn Steakhouse,
Crunch Fitness, QuikTrip, and other service-based businesses, reflecting increasing consumer demand
and population growth.
Education remains a long-term growth driver. Texas A&M-Central Texas continues expanding its campus
with new academic buildings, student housing, and planned recreational and athletic facilities,
contributing to sustained economic activity in the area.
Investment located in Killeen, Texas. Constructed in 1966, Century Plaza is a 256-unit community with an
average unit size of 666 square feet, currently 84% occupied. The property offers a mix of one- and
two-bedroom floorplans, including select townhome-style layouts. An attractive assumable loan is available,
with an outstanding balance of $9,800,000, a 4.15% interest rate, and approximately three years remaining
on the term. Additionally, the property is eligible for new agency financing.
Killeen is experiencing a strong wave of growth and reinvestment, signaling a shift from a primarily mil-
itary-driven town into a more diversified and expanding Central Texas market. A major catalyst is the
proposed new City Hall project, with an estimated budget of approximately $155 million. This development
is expected to anchor broader downtown revitalization efforts and attract additional public and
private investment to the area.
Infrastructure improvements are also advancing across the city. Killeen’s Capital Improvement Program
includes multiple road, utility, and public facility upgrades, with key projects along corridors like Chaparral
Road. Regionally, the continued expansion of Interstate-14 (U.S.-190) is improving connectivity to
I-35, Austin, and the surrounding Central Texas corridor, supporting both population growth and com-
muter access.
Retail and commercial development is accelerating as well. The Killeen Mall is undergoing revitalization
after its recent acquisition, with new tenants such as HomeGoods, T.J. Maxx, and Five Below
opening through 2025. Additional projects along major corridors include LongHorn Steakhouse,
Crunch Fitness, QuikTrip, and other service-based businesses, reflecting increasing consumer demand
and population growth.
Education remains a long-term growth driver. Texas A&M-Central Texas continues expanding its campus
with new academic buildings, student housing, and planned recreational and athletic facilities,
contributing to sustained economic activity in the area.
Property Facts
| Sale Type | Investment | Lot Size | 8.28 AC |
| No. Units | 136 | Building Size | 170,372 SF |
| Property Type | Multifamily | Average Occupancy | 87% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1966 |
| Building Class | C |
| Sale Type | Investment |
| No. Units | 136 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 8.28 AC |
| Building Size | 170,372 SF |
| Average Occupancy | 87% |
| No. Stories | 2 |
| Year Built | 1966 |
Property Taxes
| Parcel Number | 132177 | Improvements Assessment | $13,406,111 |
| Land Assessment | $493,889 | Total Assessment | $13,900,000 |
Property Taxes
Parcel Number
132177
Land Assessment
$493,889
Improvements Assessment
$13,406,111
Total Assessment
$13,900,000
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