3300-3310 E Rancier Ave
Killeen, TX 76543
Century Plaza Apartments · Immeuble residentiel Propriété À vendre · 256 Unités

Summary:
The Multifamily Group is pleased to present Century Plaza, an exclusive value-add investment opportunity in Killeen, Texas. Built in 1966, the property comprises 256 units with an average size of 666 square feet. Century Plaza offers a variety of one- and two-bedroom floorplans, including townhome-style layouts. The asset is currently 87% occupied, with submarket occupancy averaging a healthy 94%. An attractive assumable loan is in place, featuring a remaining balance of $9,900,000, a 4.15% interest rate, and four years remaining on the term. Century Plaza also qualifies for a new agency loan.
Location:
Killeen is experiencing a wave of new developments including a new City Hall that is in the works with a proposed budget between $155 million, signaling a major revitalization effort for downtown Killeen and likely spurring additional infrastructure and civic investment in the surrounding area.
Infrastructure improvements are happening across the city, with ten major road projects currently underway. This includes enhancements to the Chaparral Road corridor and the ongoing expansion of Interstate-14 (U.S. 190) into a six-lane expressway, which will improve connectivity across Killeen and the greater Central Texas region. The city has also committed over $4 million toward the expansion of parks and recreation facilities, including walking trails, playgrounds, and a splash pad.
Retail development is another bright spot, particularly the revitalization of the Killeen Mall. The property was acquired in 2024 and is actively filling its vacant anchor spaces with new tenants such as HomeGoods, T.J.Maxx, and Five Below, with openings planned throughout 2025. Finally, Texas A&M Central Texas continues to expand its nearby campus with new academic buildings, student housing, recreation facilities, and long-term plans for athletics.