| 84-Unit Killeen / Copperas Cove Multifamily Portfolio | 8%+ Going-In Cap Rate An attractive opportunity to acquire an 84-unit, workforce-housing multifamily portfolio across four strategically concentrated locations in Killeen and neighboring Copperas Cove. The portfolio offers an 8%+ going-in cap rate, approximately 90% physical occupancy, and meaningful upside through loss-to-lease burn-off, targeted unit renovations, and enhanced marketing and leasing efforts. Current rents are approximately $115 per unit below comparable market rents, creating an estimated 19% rental growth opportunity through interior renovations. With all four properties located within a few miles of one another, the portfolio provides opportunities for operational efficiencies and centralized management, while its all one-bedroom unit mix caters to Killeen’s broad workforce, young professional, and military-affiliated renter base. Key Highlights: 84 units across 4 locations 8%+ going-in cap rate ~90% physical occupancy ~$115/unit average rent gap to market 19% potential rental growth through renovations Concentrated portfolio supporting operational efficiencies Strong demand for attainable workforce housing |
