306 N Gilmer St, Killeen, TX, 76541

Highlights

• High Rental Occupancy
• Value Add - Unit Upgrades for Rent Premium
• Value Add - RUBS to offset Water Expense
• Metal Roofs & PVC Plumbing
• Unit Mix - 91% 2 & 3 Bedroom Floorplans

Description

The Gilmer Street Apartments are a 33-unit community consisting of 14 three-bedroom units, 16 two-bedroom units, 3 one-bedroom units, and a newly installed laundry room. There is an opportunity to increase the existing cash flow through both upgrading units to achieve rental premiums and implementing RUBS to offset the property's water utility expenses. Additional positive attributes include consistently high occupancy, metal roofs, PVC plumbing, and recently updated catwalks and staircases.

The Gilmer Street Apartments are conveniently located within a 5-minute drive of the top fast food options of McDonalds, Subway, Taco Bell, Burger King, and Raising Canes. Other major points of interest include Fort Cavazos military base and Downtown Killeen which is seeing current investment from the city. The City of Killeen is located on Interstate-35 in the "Texas Triangle" which connects the major Texas metros of Dallas, Austin, Houston, and San Antonio. Killeen has seen the median income grow 9.64% from 2021-22' and population grow 5.12% since the 2020 census.

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