306 N Gilmer St, Killeen, TX, 76541
306 N Gilmer St
Killeen, TX 76541
Highlights
- Value Add - RUBS to offset Water Expense
- Value Add - Unit Upgrades for Rent Premium
- Metal Roofs & PVC Plumbing
Description
The Gilmer Street Apartments are a 33 unit apartment community consisting of 3 one-bedroom units, 16 two-bedroom units, and 14 three-bedroom units. The property also has a newly installed laundry room with 4 washers and 4 dryers for the tenant's convenience. There is opportunity to increase the cash flow through implementing RUBS to offset the property's water utility expense and completing additional unit upgrades to achieve higher rental income. The positive building attributes include the metal roofs, PVC plumbing, and recently updated catwalk & 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.
