36-Unit Apartment Complex - Killeen, Texas / Fort Hood

[Dev Horn]

LOCATION:

1807 Mulford St. Killeen, Texas 76541 (Google Maps)

DESCRIPTION:

Mulford Terrace is a 36-unit apartment complex in Killeen, Texas – the home of the world’s largest military base – Fort Hood.  The property is located right on the edge of the base.  This investment offers value-added opportunities through increasing occupancy and raising current rents. Building Class: B/C. Location Class: B.

PURCHASE PRICE:

$945,000 -Cost per door: $26,250

OPPORTUNITY:

Current Cap Rate at 9.5%, Monthly Cash flow $4,210.00*

At 3% per year forced appreciation, results 10-15% annual return on your investment in equity.*

Owner financing available with down payment of $295K.
*Note: These are conservative figures based on the current market value.

OFFER PROCEDURE:

1. All offers must be submitted with Proof of Funds.

MORE INFORMATION:

http://www.firstcornerstonegroup.com/remm/EXECSUM1807MulfordDrKilleen.pdf

QUESTIONS:

Contact Larry Allen
(817) 504-2874
[email protected]

ABOUT FORT HOOD:

With 45,414 assigned soldiers or airmen and 8,909 civilian employees, Fort Hood is the largest single site employer in Texas, directly inserting nearly $3B annually into the Texas economy. In 2005, the Texas State Comptroller estimated the annual direct and indirect economic impact of Fort Hood on the Central Texas region as $6.09 billion.