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4304 Lake Rd 16 Unit Apartment Building $1,005,000 ($62,813/Unit) 7.61% Cap Rate Killeen, TX 76543
Investment Highlights
- Significant value-add opportunity with potential to increase rents by 10%+ through renovations.
- Located near Fort Hood, one of the largest U.S. military installations, ensuring stable demand.
- Market supported by strong in-migration and a median household income of $60,000.
- Desirable unit mix of one bed, one bath units catering to a broad tenant demographic.
- Offered at an attractive cost basis with upside potential for long-term value appreciation.
- 100% occupancy and classic unit condition present clear opportunity for upgrades.
Executive Summary
Broker of Record
Patrick Graham
License # 9005919, 528005 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Patrick Graham
License # 9005919, 528005 (TX)
Matthews Real Estate Investment Services, Inc
2699 Howell St., Suite 400, Dallas, TX 75204
(866) 889-0550
Property Facts
| Price | $1,005,000 | Apartment Style | Low-Rise |
| Price Per Unit | $62,813 | Building Class | C |
| Sale Type | Investment | Building Size | 11,980 SF |
| Cap Rate | 7.61% | Average Occupancy | 100% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1965 |
| Property Subtype | Apartment | ||
| Zoning | Commercial | ||
| Price | $1,005,000 |
| Price Per Unit | $62,813 |
| Sale Type | Investment |
| Cap Rate | 7.61% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Building Size | 11,980 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1965 |
| Zoning | Commercial |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | - |
1 1
Somewhat walkable
30/100
Very drivable
80/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 12456 | Improvements Assessment | $354,657 |
| Land Assessment | $56,000 | Total Assessment | $410,657 |
Property Taxes
Parcel Number
12456
Land Assessment
$56,000
Improvements Assessment
$354,657
Total Assessment
$410,657
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4304 Lake Rd
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