305-307 BLAIR - 10 Unit Apartment Complex

Multi-Family for Sale
Catylist Listing ID: 30173570
Number of Units: 10 Units
Building Size (RSF): 5,450 SF
Gross Land Area: 40,075 SF
Sale Price: $165,000
Unit Price: $16,500 Per Unit
Property Use Type: Investment
Usable Size (USF): 5,250 SF
Sale Terms: Cash to Seller, Owner Financing
Cap Rate: 8.4%
Average Occupancy Rate: 95
Last Updated: 11/16/2017

Overview / Comments

This apartment complex has 10 one bedroom, one bath apartments and is 100% leased as of 10/22/17. Rent roll and 2016 Income and Expenses are attached as well as a current rent roll and survey of the property. Property has a former laundry room and covered car port that could easily be converted into a 2 bedroom apartment for more income.

NEW ROOF was installed in August of 2017 for a cost of over $14,000.00

PRICE is "FIRM", but Owner/Agent will finance with $50,000 down on a 15 year amortization with a 5 year balloon at 5%.

Additional Details

Nearest MSA: Killeen-Temple
County: Bell
Taxing Authority: BellCad
Tax ID/APN: 55409
Zoning: R-3
Percent Occupied: 100%
Property Located Between: Blair and Ave C
Highway Access: Business Hwy 190
Airports: Greater Killeen
Site Description: Large lot with "U" shaped brick building.
Area Description: Low income area with many other rentals in the area.
Total Number of Buildings: 2
Property Condition: Good
Number of Stories: 1
Year Built: 1969
Year Renovated: 2007
Roof Type: Gable
Construction/Siding: Brick
Exterior Description: Brick
Parking Type: Surface
Parking Description: Gravel parking area around the building.
Sprinklers: None
Heat Type: Electricity
Heat Source: Wall Units
Fuel: Electric
Air Conditioning: Window Unit
Interior Description: Living room-Kitchen and one bedroom and bath. Sheet rock walls and ceramic tile floors.
Zoning Description: Multifamily
Lot Frontage: 133'
Lot Depth: 150'
Sewer Type: Municipal
Easements: Utilities
Land Ownership: Fee simple
Legal Description: Part of Lot 2, (So. 133.51' of E. 299.07' of 2) AKA Lot 6, Block 8 city of Killeen.

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 14,588 90,519 156,084
Median Age: 26.63 26.89 27.22
Households: 6,022 32,925 55,002
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