Call for Offers: 222-Unit Central Texas Apartments

Offers to purchase Lake Road requested by Thursday, April 16, 2015

realestate-investment-multifamily-property-for-sale-lake-road-Killeen-texas-462x330

KILLEEN, TEXAS – Lake Road Apartments is a class C asset consisting of 222 units in Killeen, Texas. Built in 1976 and 1983, Lake Road Apartments boasts a desirable unit mix consisting of spacious one and two bedroom configurations. The city of Killeen serves as the home to Fort Hood, the largest active duty military base in the United States.

STRONG CENTRAL TEXAS SECONDARY MARKET

The Waco-Temple-Killeen MSA is located in one of the fastest growing economic corridors in the nation. Killeen is situated 60 miles north of Austin and 136 miles south of Dallas/Fort Worth and boasts rapid growth in all areas of the economy including population growth, business, medical industry, retail services, entertainment and educational facilities. The population of Killeen is currently estimated at over 127,921 and has increased 47 percent since 2000. Lake Road Apartments offers investors the opportunity to capture a value-add class C asset in an expanding market.

EXCEPTIONALLY LOCATED WITHIN THE CITY OF KILLEEN

Lake Road is strategically located in northern Killeen within seven miles of Fort Hood Military base and within three miles of Highway 190, the major highway bisecting the city.  The submarket is abundant with retail and entertainment including the Killeen Mall and the Market Heights shopping center whose 600,000 square feet and 80 acres offer major retail drivers such as Barnes & Nobles, Cinemark, Dick’s Sporting Goods, Target, Walmart, and many national restaurant chains. The property is also well positioned near the area’s large employers including Texas A&M–Central Texas University and Metroplex Hospital. The Waco-Temple-Killeen MSA also serves as the regional healthcare hub, boasting a broad range of services for much of central Texas.

STRONG MARKET DRIVING DEMAND

With continued growth in the Waco-Temple-Killeen MSA and limited new construction on the horizon in Killeen, the property is expected to remain in high demand to investors seeking a value-add opportunity to transform this to a top performing asset in its class.

FINANCING

This property is being offered on an all cash basis allowing for unrestricted financing options.

For the complete marketing package, please sign the Lake Road Confidentiality Agreement.

For additional investment information, please contact:

Joe James | jjames@marcusmillichap.com | 512-338-7852

Kent Myers | kmyers@marcusmillichap.com | 512-338-7853

Follow us on Twitter @JamesMyersMF for the latest market news and activity.

The James-Myers Multifamily Team of Marcus & Millichap (NYSE: MMI) has participated in the sale of more than 63 transactions since 2007 totaling over 13,000 units and more than $730 Million in sales across Texas.  Contact us for acquisitions, dispositions, property evaluations or market information for your Texas apartments.

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