Villa Capri Apartments

908 Adams Avenue, Killeen, TX

16.56% return

SP: $1,850,000

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Property Description

INSANE OPPORTUNITY!!!

58 unit apartment complex. Brick construction. Newer TPO roof. Central A/C. Separate electric meters. City water and sewer. Swimming pool was redone recently.

Only 1 hour away from Austin, TX and 5 minutes away from Fort Hood military base, third largest in United States.

Very inexpensive to operate. Building is in great condition, only minor cosmetic improvements are needed.

This building will generate a 13%+ net return on investment!!

Property will appreciate quickly as a result of growth happening in Killeen and neighboring Austin.

Do not wait, call us ASAP for showings and to place an offer.

Property Information

Listing statusSold
Property typeMulti Family
Total units58
Total bedrooms66
Total bathrooms59
Building size34047 sq. ft.
Lot size1.8 acres
Year built1965

CountyBell County
Subdivision
ConstructionBrick
RoofAsphalt Shingle
Water sourceCity water
Water disposalSewer
HeatingCentral
CoolingCentral air

Property Financial Summary

Sale price$1,850,000
Estimated rehab¹$250,000
Total investment$2,100,000

TypeProforma
After repair value$2,900,000
Potential profit$800,000

Gross income (annually)$445,500
Operating expenses (annually)$97,718
Net income (annually)$347,782
Gross return21.21%

Gross income (monthly)$37,125
Operating expenses (monthly)$8,143
Net income (monthly)$28,982
Net return16.56%

Property Income & ExpensesMonthlyAnnual

Income

Unit 101: 1 bed / 1 bath$625/month$7,500/year
Unit 102: 1 bed / 1 bath$625/month$7,500/year
Unit 103: 2 bed / 1 bath$725/month$8,700/year
Unit 105: 2 bed / 1 bath$725/month$8,700/year
Unit 106: 1 bed / 1 bath$625/month$7,500/year
Unit 108: 3 bed / 2 bath$900/month$10,800/year
Unit 110: 1 bed / 1 bath$625/month$7,500/year
Unit 111: 1 bed / 1 bath$625/month$7,500/year
Unit 112: 2 bed / 1 bath$725/month$8,700/year
Unit 114: 2 bed / 1 bath$725/month$8,700/year
Unit 115: 1 bed / 1 bath$625/month$7,500/year
Unit 116: 1 bed / 1 bath$625/month$7,500/year
Unit 117: 1 bed / 1 bath$625/month$7,500/year
Unit 118: 1 bed / 1 bath$625/month$7,500/year
Unit 119: 1 bed / 1 bath$625/month$7,500/year
Unit 120: 1 bed / 1 bath$625/month$7,500/year
Unit 121: 2 bed / 1 bath$725/month$8,700/year
Unit 123: 2 bed / 1 bath$725/month$8,700/year
Unit 124: 1 bed / 1 bath$625/month$7,500/year
Unit 125: 1 bed / 1 bath$625/month$7,500/year
Unit 126: 1 bed / 1 bath$625/month$7,500/year
Unit 127: 1 bed / 1 bath$625/month$7,500/year
Unit 128: 1 bed / 1 bath$625/month$7,500/year
Unit 130: 1 bed / 1 bath$625/month$7,500/year
Unit 131: 1 bed / 1 bath$625/month$7,500/year
Unit 132: 1 bed / 1 bath$625/month$7,500/year
Unit 201: 1 bed / 1 bath$625/month$7,500/year
Unit 202: 1 bed / 1 bath$625/month$7,500/year
Unit 203: 1 bed / 1 bath$625/month$7,500/year
Unit 204: 1 bed / 1 bath$625/month$7,500/year
Unit 205: 1 bed / 1 bath$625/month$7,500/year
Unit 206: 1 bed / 1 bath$625/month$7,500/year
Unit 207: 1 bed / 1 bath$625/month$7,500/year
Unit 208: 1 bed / 1 bath$625/month$7,500/year
Unit 209: 1 bed / 1 bath$625/month$7,500/year
Unit 210: 1 bed / 1 bath$625/month$7,500/year
Unit 211: 1 bed / 1 bath$625/month$7,500/year
Unit 212: 1 bed / 1 bath$625/month$7,500/year
Unit 213: 1 bed / 1 bath$625/month$7,500/year
Unit 214: 1 bed / 1 bath$625/month$7,500/year
Unit 215: 1 bed / 1 bath$625/month$7,500/year
Unit 216: 1 bed / 1 bath$625/month$7,500/year
Unit 217: 1 bed / 1 bath$625/month$7,500/year
Unit 218: 1 bed / 1 bath$625/month$7,500/year
Unit 219: 1 bed / 1 bath$625/month$7,500/year
Unit 220: 1 bed / 1 bath$625/month$7,500/year
Unit 221: 1 bed / 1 bath$625/month$7,500/year
Unit 222: 1 bed / 1 bath$625/month$7,500/year
Unit 223: 1 bed / 1 bath$625/month$7,500/year
Unit 224: 1 bed / 1 bath$625/month$7,500/year
Unit 225: 1 bed / 1 bath$625/month$7,500/year
Unit 226: 1 bed / 1 bath$625/month$7,500/year
Unit 227: 1 bed / 1 bath$625/month$7,500/year
Unit 228: 1 bed / 1 bath$625/month$7,500/year
Unit 229: 1 bed / 1 bath$625/month$7,500/year
Unit 230: 1 bed / 1 bath$625/month$7,500/year
Unit 231: 1 bed / 1 bath$625/month$7,500/year
Unit 232: 1 bed / 1 bath$625/month$7,500/year
Total$37,125/month$445,500/year

Expenses

Water bill$1,750/month$21,000/year
Property Taxes$1,627/month$19,518/year
Electric bill$500/month$6,000/year
Insurance$417/month$5,000/year
Pest Control$200/month$2,400/year
Pool Maintenance$150/month$1,800/year
Property Management$1,500/month$18,000/year
Maintenance reserve$2,000/month$24,000/year
Total$8,143/month$97,718/year

Property Questions & Answers

Q: How do I make an offer on this property?
A: Placing an offer is a simple process. All offers must be presented in writing with an escrow deposit of 10% or $5,000, whichever is larger. Escrow has to be sent to the attorney or title company who is handling the file for this property. Please send us an inquiry and one of our team members will get in touch with you to further assist you. You can also give us a call.

Q: Does this property come with clear title?
A: All our properties come with clear title. We highly recommend you purchase title insurance as well.