603 Hall Ave Killeen, TX 76541
- Commercial real estate
Current Use by Public Records
- Downtown Manor / Indoor Lodging
Property Details for 603 Hall Ave
- Year built
- 1976
- Property type
- Commercial real estate
Description
This exceptional 16-unit apartment building, known as Downtown Manor, presents a compelling investment opportunity in Killeen, Texas. Built in 1976, this two-story property encompasses 8,009 square feet of net rentable space, featuring exclusively one-bedroom units. The property's strategic location at 603 Hall Ave places it within close proximity to major employers such as DLA Distribution Red River, Central Texas College, and Seton Medical Center, as well as the significant employment base provided by Fort Hood. This proximity ensures a consistent demand for rental units. The property offers substantial value-add potential. Implementing a RUBS program could significantly enhance net operating income (NOI), while aligning current rental rates with market rates promises considerable rent growth. Seller financing is available, making this an even more attractive proposition for investors seeking strong cash-on-cash returns in the first year. Financial details are available upon request. This is a rare opportunity to acquire a well-situated multifamily property with significant upside potential in a thriving Texas market. The property consists of one building and presents a chance to capitalize on the robust Killeen rental market. Further details regarding recent capital improvements are available upon request.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Killeen
- County
- Bell
- State
- Texas
- Longitude
- -97.7240727
- Latitude
- 31.1203201
