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Occupied 14-Unit Apartment Complex Hitting the 1% Rule for Under $50k per Door

1405 N Gray St, Killeen
ROI
19.38% IRR
Strategy
Long Term Rental
Occupied 14-unit apartment complex hitting the 1% Rule for under $50k per door. All 1 bed units leased for $535/mo on average ($7500/mo gross) with market rents at $550-600/mo. 7,050 sq ft two story 14-unit complex with all 1 bed, 1 bath units. Built in 1976. Fully occupied on 12-month leases from $450-600/mo expiring from 8/31/23-5/31/24.

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Occupied 14-Unit Apartment Complex Hitting the 1% Rule for Under $50k per Door

Listed 07/20/2023

1405 N Gray St, Killeen

Purchase Price:$650,000

Cash Outlay:$1175,500

Cashflow:$742/mo

Cap Rate:7.21%

IRR:19.38%

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