Description
Desirable 'townhome-style' income producing brick fourplex in Killeen. Well managed, upgraded and well maintained 2br/1.5ba & 3br/1.5ba units with very stable income, high occupancy rates and longer term tenants. Rents well above the norm for units in the area, even in comparison to other townhome-style quads, and with rent increases built into the leases. Spacious 1100 sqft units, upgraded flooring and other updates. Gross rents above $30,000 for several years and rising with 2024 pro forma gross rents above $45,000 if fully occupied. Pro forma cap rate at 10%+. A steady earner that still has substantial untapped upside. One unit being held open for potential VA buyer or owner occupants.Let your rental income pay your mortgage. Fort Hood produces thousands of steady, government-backed tenants. May not be as 'glamorous' as Austin but if steady positive cash flow and stable, low maintenance property is the goal it's among the best small income property options in Central Texas. Smart long term add to your income portfolio or a great first investment.
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0BEDS
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0.2ACRES
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0BATHS
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01/2 BATHS
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4,440SQFT
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$86$/SQFT
© 2024 Central Texas MLS.
Listing courtesy of David Mosrie of Texas Ally Real Estate Group: (512) 763-2559.
Description
Desirable 'townhome-style' income producing brick fourplex in Killeen. Well managed, upgraded and well maintained 2br/1.5ba & 3br/1.5ba units with very stable income, high occupancy rates and longer term tenants. Rents well above the norm for units in the area, even in comparison to other townhome-style quads, and with rent increases built into the leases. Spacious 1100 sqft units, upgraded flooring and other updates. Gross rents above $30,000 for several years and rising with 2024 pro forma gross rents above $45,000 if fully occupied. Pro forma cap rate at 10%+. A steady earner that still has substantial untapped upside. One unit being held open for potential VA buyer or owner occupants.Let your rental income pay your mortgage. Fort Hood produces thousands of steady, government-backed tenants. May not be as 'glamorous' as Austin but if steady positive cash flow and stable, low maintenance property is the goal it's among the best small income property options in Central Texas. Smart long term add to your income portfolio or a great first investment.
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© 2024 Central Texas Multiple Listing Service, Inc. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some properties which appear for sale on the website may no longer be available because they are for instance, under contract, sold or are no longer being offered for sale. Information is deemed reliable but is not guaranteed accurate by the MLS or Hacienda Texas Realty. Data last updated: 2024-11-07T00:06:02.903.