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306 Gilmer St Killeen, TX 76541

For Sale
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33-Unit Multifamily Investment Opportunity

Description

Added:
Dec 11, 2024
Days on Market:
365
This exceptional 33-unit apartment community in Killeen, Texas, presents a compelling investment opportunity. The property comprises two, two-story buildings totaling 25,057 net rentable square feet, built in 1970. The unit mix includes three one-bedroom, sixteen two-bedroom, and fourteen three-bedroom apartments. A newly installed laundry facility, featuring four washers and four dryers, adds significant tenant convenience. The property boasts durable metal roofs and PVC plumbing, enhancing longevity and reducing maintenance costs. Recent upgrades include renovated catwalks and staircases. Significant value-add potential exists through the implementation of RUBS (Rent Utility Billing System) to offset water expenses and by completing additional unit upgrades to command higher rental income. The property enjoys a prime location within a five-minute drive of popular fast-food restaurants like McDonald's, Subway, Taco Bell, Burger King, and Raising Cane's. Its proximity to Fort Cavazos military base and a revitalizing downtown Killeen, situated on Interstate-35 within the Texas Triangle, offers strong potential for future growth. Killeen's robust economic climate is evidenced by a 9.64% median income increase from 2021 to 2022 and a 5.12% population growth since the 2020 census. This strategic location, coupled with the property's inherent value-add potential, makes this a highly attractive investment prospect.

Property Features for 306 Gilmer St

General Information

Property type
Multifamily properties

Building Details

Year Built
1970
Buildings
2
Stories
2
Units
33

Property Profile Insight Report Location Intelligence

Current Use by Public Records

Whispering Hills Furnished Apartment Building

Suggested Use

Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Killeen
County
Bell
State
Texas
Longitude
-97.737492604059
Latitude
31.123133544087

FAQs

What type of property is this?
Multifamily property - 33-Unit Multifamily Investment Opportunity
Where is this multifamily property located?
The property is located at 306 Gilmer St Killeen, TX.
More about this property
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