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Cashflow 4plex - 8+% CAP 806 Sissom Rd 4 Unit Apartment Building $399,900 ($99,975/Unit) 7.55% Cap Rate Killeen, TX 76541
INVESTMENT HIGHLIGHTS
- Tenant Occupied at $3,000/mo
- Turnkey Rental Property
- I-14 Expansion
- Immediate CashFlow
- Largest Military Base in the Nation - Ft. Hood
- Metal Roof and TurnKey Renovated
EXECUTIVE SUMMARY
100% Occupied, TurnKey 4plex - No showings until executed contract.
Quiet neighborhood, close to major road Business 190 and current project for Interstate 14 expansion. The Killeeen/CopperasCove/Temple metro is home Ft. Hood, the largest military base in the nation.
https://www.military.com/base-guide/fort-hood
https://www.interstate-guide.com/i-014/
Unit 1: 2/1 ($800) - Tenant moved in Nov 2022-Oct 2023. Renewing at $800 Nov 2023-Oct 2024. Unit had full renovation in June 2021 (new carpet, paint, etc.)
Unit 2: 2/1 ($750) - Tenant renewing Dec 2022 -Nov 2023. Unit had full renovation in Nov 2021 (new waterproof LVP, paint, etc.)
Unit 3: 2/1 ($750) - Renewed from Feb 2023-Feb 2024. Unit in very good condition.
Unit 4: 2/1 ($700) - Renewed from Feb 2023-Jan 2024. Unit had full renovation January 2021 (new carpet, paint, etc.)
Please note this 4plex has a METAL roof. HVACs are relatively newer. No immediate maintenance/repairs needed.
Each unit is on separate meters and tenants pay all bills/utilities their own. No HOA.
All appliances convey with the sale. (Fridge and kitchen appliances. No W/D on property but W/D connections present on all units)
Operating Expenses of $2,100 represents only insurance.
Property management company can be put in place for 8%.
Seller is selling property to move money to larger investment.
Quiet neighborhood, close to major road Business 190 and current project for Interstate 14 expansion. The Killeeen/CopperasCove/Temple metro is home Ft. Hood, the largest military base in the nation.
https://www.military.com/base-guide/fort-hood
https://www.interstate-guide.com/i-014/
Unit 1: 2/1 ($800) - Tenant moved in Nov 2022-Oct 2023. Renewing at $800 Nov 2023-Oct 2024. Unit had full renovation in June 2021 (new carpet, paint, etc.)
Unit 2: 2/1 ($750) - Tenant renewing Dec 2022 -Nov 2023. Unit had full renovation in Nov 2021 (new waterproof LVP, paint, etc.)
Unit 3: 2/1 ($750) - Renewed from Feb 2023-Feb 2024. Unit in very good condition.
Unit 4: 2/1 ($700) - Renewed from Feb 2023-Jan 2024. Unit had full renovation January 2021 (new carpet, paint, etc.)
Please note this 4plex has a METAL roof. HVACs are relatively newer. No immediate maintenance/repairs needed.
Each unit is on separate meters and tenants pay all bills/utilities their own. No HOA.
All appliances convey with the sale. (Fridge and kitchen appliances. No W/D on property but W/D connections present on all units)
Operating Expenses of $2,100 represents only insurance.
Property management company can be put in place for 8%.
Seller is selling property to move money to larger investment.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$36,000
|
$10.40
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$36,000
|
$10.40
|
| Taxes |
$3,700
|
$1.07
|
| Operating Expenses |
$2,100
|
$0.61
|
| Total Expenses |
$5,800
|
$1.68
|
| Net Operating Income |
$30,200
|
$8.72
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $36,000 |
| Annual Per SF | $10.40 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $36,000 |
| Annual Per SF | $10.40 |
| Taxes | |
|---|---|
| Annual | $3,700 |
| Annual Per SF | $1.07 |
| Operating Expenses | |
|---|---|
| Annual | $2,100 |
| Annual Per SF | $0.61 |
| Total Expenses | |
|---|---|
| Annual | $5,800 |
| Annual Per SF | $1.68 |
| Net Operating Income | |
|---|---|
| Annual | $30,200 |
| Annual Per SF | $8.72 |
PROPERTY FACTS
| Price | $399,900 | Apartment Style | Garden |
| Price Per Unit | $99,975 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 3,462 SF |
| Cap Rate | 7.55% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1953 |
| Property Subtype | Apartment | ||
| Zoning | R-3 | ||
| Price | $399,900 |
| Price Per Unit | $99,975 |
| Sale Type | Investment |
| Cap Rate | 7.55% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Lot Size | 0.26 AC |
| Building Size | 3,462 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1953 |
| Zoning | R-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $687.50 | 865 |
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Presented by
Ruchi Mithal, Broker
Cashflow 4plex - 8+% CAP | 806 Sissom Rd
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