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    306 Gilmer St Killeen, TX 76541

    For Sale
    Contact for pricing

    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

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    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.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    306 Gilmer St Killeen, TX 76541
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