Renovated, Maintained Killeen Asset: Killen 2nd Street Apartments is a gated 50-unit multifamily community just north of Downtown Killeen. The property – built in 1983 –offers one and two bedroom floor plans as well as an on site management office and laundry facility. Residents of the community enjoy updated interiors consisting of new tile flooring throughout the entire apartment, new light fixtures, two-tone paint with chair-railed walls in living rooms, central HVAC, individual water heaters and white kitchen appliances as well as gated parking and a central green terrace. Additionally, the current owner has replaced 50% of HVAC units over the past two years offering a property with minimal deferred maintenance. A new owner is offered substantial management upside through improved occupancy.
Strong, Stable Employment Market: Killeen – the largest city in the Killeen-Temple-Fort Hood MSA (450,000+ population in 2015) – is located just off Interstate 35 within 60 miles of both Austin and Waco. The Killeen MSA is home to Fort Hood, the largest United States military installation in the world, as well as other major employers including Texas A&M Central Texas, Killeen ISD, the Scott & White Memorial Hospital, Metroplex Health System, McLane Company, Atmos Energy and many others. The City acts as a hub for surrounding cities including Temple, Belton, Harker Heights Copperas Cove and Lampasas. The MSA population is expected to rise above 550,000 by 2030.
