Killeen 6-Plex Investment
For Sale
$445,000
2314 Andover Dr Dr, Killeen, TX 76542
Fully leased 6-plex in Killeen, near Fort Cavazos.
Property Size4,012 SF
Lot Size0.09 Acres
Days on Market321
Property Features for 2314 Andover Dr Dr
General Information
Standard status
Active
Size
4,012 SF
Lot size
0.09 Acres
Property subtype
Commercial
Building Details
Building Size
4,012 SF
Year Built
1972
Listing Agency:
Keller Williams - Lake Travis
Listed By:
Sandra Silva · License #0705123
(956) 459-4298
Source:
Elliman
Added: Dec 3, 2025
Changed: Oct 9
Last Checked: Oct 19 at 8:15AM
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 Keller Williams - Lake Travis
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This fully leased 6-plex is located in Killeen. The property features a unit mix of four two-bedroom, one-bath units and two one-bedroom, one-bath units, all within a single structure situated on a residential lot. The property is located minutes from Fort Cavazos and major commercial corridors, in a high-demand rental market characterized by strong occupancy and steady turnover. This property is intended for investors seeking consistent returns with low operating complexity.
Key Highlights
- Fully leased 6‑plex providing immediate cash flow.
- Favorable unit mix: (4) 2‑bedroom/1‑bath and (2) 1‑bedroom/1‑bath units.
- Value‑add opportunity through renovations or lease increases.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,082
Cap Rate
7.21%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$641,640
$641.6K
Cap Rate 7%
$458,314
$458.3K
Cap Rate 9%
$356,467
$356.5K
Market Conditions
NOI Build-Up for 4,012 SF
Gross rent
$62.6K $15.60/SF
− Vacancy
−$4.3K −$1.06/SF
EGI
$58.3K $14.54/SF
− OpEx
−$26.2K −$6.54/SF
NOI
$32.1K $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%
$641,640
Cap Rate 7%
$458,314
Cap Rate 9%
$356,467
Alternative Uses
Best Use
Apartment 5plus
$458.3K
$401.0K – $534.7K
NOI $32,082 @ 7.0% cap · market cap 7.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.7K
$843.2K – $1.12M
NOI $67,456 @ 7.0% cap · market cap 15.16%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
382
Businesses Nearby
Explore this area
Business Placement
Demographics for 76542, TX
53,312
Population
21,027
Households
2.5
Avg Household Size
32
Median Age
29%
College-Educated
94%
High-School Grad
63.0 sq mi
ZIP Area
846
Density / Sq Mi
$72,891
Median Household Income
$42,506
Median Earnings
$1,237
Median Rent
$228,500
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased 6-plex in Killeen, near Fort Cavazos.
Where is this apartment building located?
The property is located at 2314 Andover Dr Dr Killeen, TX.
What is the asking price?
The asking price for this property is $445,000.
What are key features of this property?
This property features: Fully leased 6‑plex providing immediate cash flow.; Favorable unit mix: **(4) 2‑bedroom/1‑bath and (2) 1‑bedroom/1‑bath units.**; Value‑add opportunity through renovations or lease increases.
