Fully Leased 6-Unit Apartment
For Sale
$460,000
2314 Andover DR, Killeen, TX 76542
Six fully leased apartments in a single structure include four two-bedroom units and two one-bedroom units.
Property Size4,012 SF
Price / SF$114.66
Days on Market349
Property Features for 2314 Andover DR
General Information
Standard status
Active
Size
4,012 SF
Property subtype
General Commercial
Occupancy
100%
Additional Details
Multifamily Units
6
Building Details
Year Built
1972
Tenancy
Multi
Listing Agency:
Lake Travis
(512) 784-2345
Listed By:
Keller Williams
(512) 784-2345
Source:
Xome
Added: Aug 16, 2025
Changed: Jul 25
Last Checked: Jul 30 at 3:20AM
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 Lake Travis
Investment Insights
Based on property information with market context.
This fully leased 6-plex consists of a single apartment structure on a residential lot. The unit mix includes four two-bedroom, one-bath apartments and two one-bedroom, one-bath apartments, providing a straightforward configuration within one building.
The property is located in Killeen, just minutes from Fort Cavazos and major commercial corridors, offering convenient access to key employment and service destinations.
Given the existing tenant occupancy and consistent apartment layout, the asset is set up for investors seeking a multi-unit property with an established in-place rental base.
The property is located in Killeen, just minutes from Fort Cavazos and major commercial corridors, offering convenient access to key employment and service destinations.
Given the existing tenant occupancy and consistent apartment layout, the asset is set up for investors seeking a multi-unit property with an established in-place rental base.
Key Highlights
- Fully leased 6‑plex in Killeen with a mix of (4) 2‑bedroom, 1‑bath units and (2) 1‑bedroom, 1‑bath units
- All units are in a single structure on a spacious residential lot
- Parking available with 12 parking spaces, including assigned parking space(s)
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 6.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$963.7K
$843.2K – $1.12M
NOI $67,456 @ 7.0% cap · market cap 14.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
615
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six fully leased apartments in a single structure include four two-bedroom units and two one-bedroom units.
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 $460,000.
What are key features of this property?
This property features: Fully leased 6‑plex in Killeen with a mix of (4) 2‑bedroom, 1‑bath units and (2) 1‑bedroom, 1‑bath units; All units are in a single structure on a spacious residential lot; Parking available with 12 parking spaces, including assigned parking space(s)
