Six-Unit Apartment
2314 Andover Dr Killeen, TX 76542
2314 Andover Dr, Killeen, TX, 76542
$479,999
For Sale
$479,999
Fully leased 6-plex with 4 two-bed and 2 one-bed units in a single structure on a residential lot.
Property Size4,012 SF
Price / SF$119.64
Days on Market333
Property Features for 2314 Andover Dr
General Information
- Standard status
- Active
- Size
- 4,012 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1972
Listing Agency
Keller Williams - Lake Travis
(512) 263-9090
Listed by
Alice Duffy · License #0681288
Source
Loessinproperties
Added: Aug 19, 2025 Checked: Jul 17 at 8:41 am
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
Investment Insights
Based on property information with market context.
2314 Andover Dr is a fully leased six-unit apartment building in Killeen, TX, built as a single structure on a spacious residential lot. The unit mix consists of four two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments, providing a balanced blend of layouts for resident needs.
The property is located in the heart of Killeen, just minutes from Fort Cavazos and major commercial corridors. This positioning supports practical day-to-day convenience for tenants while keeping the building connected to the broader local rental demand drivers.
With all units currently leased, this 6-plex suits buyers looking for an income-producing multifamily asset with straightforward operating complexity. The existing mix of one- and two-bedroom homes can support a range of household sizes, and the building’s apartment configuration is well-suited for an operator seeking to manage a compact portfolio. The property also offers a manageable scale for owners who prefer to focus on resident retention and light interior unit updates over larger, more complex redevelopment efforts.
The property is located in the heart of Killeen, just minutes from Fort Cavazos and major commercial corridors. This positioning supports practical day-to-day convenience for tenants while keeping the building connected to the broader local rental demand drivers.
With all units currently leased, this 6-plex suits buyers looking for an income-producing multifamily asset with straightforward operating complexity. The existing mix of one- and two-bedroom homes can support a range of household sizes, and the building’s apartment configuration is well-suited for an operator seeking to manage a compact portfolio. The property also offers a manageable scale for owners who prefer to focus on resident retention and light interior unit updates over larger, more complex redevelopment efforts.
Key Highlights
- Fully leased 6‑plex built in 1972, located in Killeen.
- Unit mix includes (4) 2‑bedroom, 1‑bath units and (2) 1‑bedroom, 1‑bath units.
- All 6 units are in a single structure on a spacious residential lot.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $62.6k | $15.60 |
| − Vacancy | −$4.3k | −$1.06 |
| EGI | $58.3k | $14.54 |
| − OpEx | −$26.2k | −$6.54 |
| NOI | $32.1k | $8.00 |
4,012 SF · lease $15.60/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$458.3K
$401.0K – $534.7K
NOI $32,082 @ 7.0% cap · market cap 6.68%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.7K
$843.2K – $1.12M
NOI $67,456 @ 7.0% cap · market cap 14.05%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully leased 6-plex with 4 two-bed and 2 one-bed units in a single structure on a residential lot.
Where is this apartment building located?
The property is located at 2314 Andover Dr Killeen, TX.
What is the asking price?
The asking price for this property is $479,999.
What are key features of this property?
This property features: Fully leased 6‑plex built in 1972, located in Killeen.; Unit mix includes (4) 2‑bedroom, 1‑bath units and (2) 1‑bedroom, 1‑bath units.; All 6 units are in a single structure on a spacious residential lot.
