4308 Zephyr Road

BEAUTIFUL, SECLUDED, RENOVATED 24 UNIT APARTMENT COMPLEX CENTERED IN THE HEART OF KILLEEN! This incredible all two-bedroom property sits quietly tucked away on its own, yet is still under 2 minutes to Hwy 190 & 9 minutes to Ft Hood! Over the past year the property and the majority of the units have received extensive renovations and improvements both inside & out! Appliances, HVACs, flooring, counters, cabinets, paint, roof repair & replacement, parking lot redone & resealed, perimeter fence - too many things to list! Several units were completely rebuilt, most received cosmetic overhauls. Developers - the central courtyard is over an acre & sizeable enough to build more units on! Remodeled units rent for $725, new leases/renewals - $650. Overall avg rent ~$600, & increasing as units renewed to mkt. *PROFORMA ESTIMATES* Gross Mkt Rent, incl. vacancy & loss to lease: $188,834. Gross Exp. Incl. mgmt, taxes, ins., R&M, utilities, etc.: $39,989. PROFORMA NOI - $148,845 - 7.25% CAP