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904 Sissom Rd 4 Unit Apartment Building $586,147 CAD ($146,537 CAD/Unit) 8.18% Cap Rate Killeen, TX 76541
INVESTMENT HIGHLIGHTS
- Tenant Occupied at $3,400/mo - Immediate CashFlow
- Entire Building re-piped with PEX water pipes
- I-14 Expansion
- Turnkey Rental Property
- Largest Military Base in the Nation - Ft Hood
- Upside to Increase Rents
EXECUTIVE SUMMARY
100% Occupied, TurnKey 4plex - No showings until executed contract.
Quiet neighborhood, close to major road Business 190 and current project for Interstate 14 expansion. The Killeeen/Copperas Cove/Temple metro is home Ft. Hood, the largest military base in the nation.
https://www.military.com/base-guide/fort-hood
https://www.interstate-guide.com/i-014/
Unit 1: 2/1 ($850) - Leased from Mar 2024-Feb 2025. Unit had full renovation (new LVP flooring, paint, toilet, vanity, plumb fixtures, etc.)
Unit 2: 2/1 ($850) - Leased from Mar 2024-Feb 2025. Unit had full renovation (new LVP flooring, paint, toilet, vanity, plumb fixtures, etc.)
Unit 3: 2/1 ($850) - Leased from Feb 2024-Jan 2025. Unit had full renovation (has new carpet, hardware, kitchen plumbing, etc)
Unit 4: 2/1 ($850) - Leased from Feb 2024-Jan 2025. Unit had full renovation (new LVP flooring, paint, toilet, vanity, plumb fixtures, etc.) etc.)
Entire building has been re-piped with brand new PEX piping and new exterior LED lighting. Don't have to worry about any pipes busting or cracking during a Texas freeze.
Relatively newer HVACs. Most water heaters ~7-10 years old. No immediate maintenance/repairs needed.
Each unit is on separate meters and tenants pay all bills/utilities their own. No HOA.
All kitchen appliances convey with the sale. (Fridge and kitchen appliances. . 3 of 4 fridges only 1 year old. 3 of 4 range/ovens only 1 year old)
No W/D on property, but W/D connections present on all units.
Operating Expenses of $2,500 is for insurance only.
Property management company can be put in place for 8%.
Seller is selling property to move money to larger investment.
Quiet neighborhood, close to major road Business 190 and current project for Interstate 14 expansion. The Killeeen/Copperas Cove/Temple metro is home Ft. Hood, the largest military base in the nation.
https://www.military.com/base-guide/fort-hood
https://www.interstate-guide.com/i-014/
Unit 1: 2/1 ($850) - Leased from Mar 2024-Feb 2025. Unit had full renovation (new LVP flooring, paint, toilet, vanity, plumb fixtures, etc.)
Unit 2: 2/1 ($850) - Leased from Mar 2024-Feb 2025. Unit had full renovation (new LVP flooring, paint, toilet, vanity, plumb fixtures, etc.)
Unit 3: 2/1 ($850) - Leased from Feb 2024-Jan 2025. Unit had full renovation (has new carpet, hardware, kitchen plumbing, etc)
Unit 4: 2/1 ($850) - Leased from Feb 2024-Jan 2025. Unit had full renovation (new LVP flooring, paint, toilet, vanity, plumb fixtures, etc.) etc.)
Entire building has been re-piped with brand new PEX piping and new exterior LED lighting. Don't have to worry about any pipes busting or cracking during a Texas freeze.
Relatively newer HVACs. Most water heaters ~7-10 years old. No immediate maintenance/repairs needed.
Each unit is on separate meters and tenants pay all bills/utilities their own. No HOA.
All kitchen appliances convey with the sale. (Fridge and kitchen appliances. . 3 of 4 fridges only 1 year old. 3 of 4 range/ovens only 1 year old)
No W/D on property, but W/D connections present on all units.
Operating Expenses of $2,500 is for insurance only.
Property management company can be put in place for 8%.
Seller is selling property to move money to larger investment.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$56,954
|
$16.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$56,954
|
$16.60
|
| Taxes |
$5,514
|
$1.61
|
| Operating Expenses |
$3,490
|
$1.02
|
| Total Expenses |
$9,004
|
$2.62
|
| Net Operating Income |
$47,950
|
$13.98
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $56,954 |
| Annual Per SF | $16.60 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $56,954 |
| Annual Per SF | $16.60 |
| Taxes (CAD) | |
|---|---|
| Annual | $5,514 |
| Annual Per SF | $1.61 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $3,490 |
| Annual Per SF | $1.02 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $9,004 |
| Annual Per SF | $2.62 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $47,950 |
| Annual Per SF | $13.98 |
PROPERTY FACTS
| Price | $586,147 CAD | Property Subtype | Apartment |
| Price Per Unit | $146,537 CAD | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 3,430 SF |
| Cap Rate | 8.18% | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1953 |
| Zoning | R-3 | ||
| Price | $586,147 CAD |
| Price Per Unit | $146,537 CAD |
| Sale Type | Investment |
| Cap Rate | 8.18% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.27 AC |
| Building Size | 3,430 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1953 |
| Zoning | R-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $1,221 CAD | 857 |
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Presented by
Ruchi Mithal, Broker
904 Sissom Rd
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