6-Unit Apartment
For Sale
$475,000
213 E Harrison Avenue, Killeen, TX 76541
Established multifamily property with four occupied units and two currently available for leasing.
Property Size3,600 SF
Price / SF$131.94
Days on Market76
Property Features for 213 E Harrison Avenue
General Information
Standard status
Active
Size
3,600 SF
Additional Details
Asking Price
$475,000
Multifamily Units
6
Listing Agency:
Two Lakes Real Estate
(254) 415-4040
Listed By:
Katie Strange · License #0743427
(254) 316-9606
Source:
Cornerstone-properties
Added: Aug 15
Changed: Oct 25
Last Checked: Oct 28 at 8:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Two Lakes Real Estate
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Investment Insights
Based on property information with market context.
Located at 213 E Harrison Ave in Killeen, this apartment property contains 6 units and was built in 1970. The existing configuration provides an established multifamily asset with a mix of occupied and vacant units.
Four units are currently occupied, while two units are vacant and available for leasing. This occupancy profile combines current rental activity with additional units that can be addressed through future leasing.
Four units are currently occupied, while two units are vacant and available for leasing. This occupancy profile combines current rental activity with additional units that can be addressed through future leasing.
Key Highlights
- 6‑unit apartment property
- Four occupied units and two vacant units
- Built in 1970
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$28,788
Cap Rate
6.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,760
$575.8K
Cap Rate 7%
$411,257
$411.3K
Cap Rate 9%
$319,867
$319.9K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$56.2K $15.60/SF
− Vacancy
−$3.8K −$1.06/SF
EGI
$52.3K $14.54/SF
− OpEx
−$23.6K −$6.54/SF
NOI
$28.8K $8.00/SF
Area
Killeen, TX
Vacancy
6.80%
Lease Rate
$15.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$575,760
Cap Rate 7%
$411,257
Cap Rate 9%
$319,867
Alternative Uses
Best Use
Apartment 5plus
$411.3K
$359.9K – $479.8K
NOI $28,788 @ 7.0% cap · market cap 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$864.7K
$756.6K – $1.01M
NOI $60,528 @ 7.0% cap · market cap 12.74%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
486
Businesses Nearby
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Business Placement
Demographics for 76541, TX
19,641
Population
10,207
Households
1.9
Avg Household Size
32
Median Age
12%
College-Educated
83%
High-School Grad
4.9 sq mi
ZIP Area
4,008
Density / Sq Mi
$36,739
Median Household Income
$27,869
Median Earnings
$858
Median Rent
$97,500
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Established multifamily property with four occupied units and two currently available for leasing.
Where is this apartment building located?
The property is located at 213 E Harrison Avenue Killeen, TX.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 6‑unit apartment property; Four occupied units and two vacant units; Built in 1970
