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Multi-Family and Apartment Investing

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Angelica M Garzon
Pro Member
  • Rental Property Investor
  • Miami, FL
112
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110
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Killeen, TX 8% Cap 46 Unit Apartment Buildings Class D+

Angelica M Garzon
Pro Member
  • Rental Property Investor
  • Miami, FL
Posted Jun 20 2019, 12:18

Hello BP Community! 

I have recently gotten 2 offers accepted for 2 apartment buildings in Killeen Texas zip 76549. 

As part of our market analysis, I wanted to get feedback from locals or seasoned investors. I am trying to understand the demographics, market rents, crime rates and overall market appreciation or opinion. Is this an up and coming area or too big a hassle for long-distance investors? Am I in the right zip code or should look elsewhere. 

We are purchasing these buildings long-distance thus our minimal knowledge of the area. Everything we know is directly from online resources. 

Break Down: 

8% Cap 

35% Vacancy

46 Units total

14% COC with leverage

39% ROI no leverage

No property management in place 

Units need to be updated  

Close to Military Base 

Looks like a high crime area

Potential for 50% + returns at 100% occupancy 

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