501 N 46th St, Killeen, TX 76543

This quadplex offers an excellent opportunity for investors looking to add a value-driven multifamily property to their portfolio. Featuring four 2-bedroom, 1-bathroom units and over 4,200 square feet of total living space, it provides immediate rental income with strong potential for increased returns through rent optimization. Three units are currently leased with monthly rents of $600, $550, and $800, and market rents in the area support a pro forma of approximately $850 per unit. With one vacant unit ready to lease or update, there’s a clear opportunity to bring all units to market value and increase overall income potential. Each unit is individually metered for electricity, while water and trash services are included in the lease — helping keep utility costs predictable and appealing to tenants. The property sits on a 0.22-acre lot with off-street parking and is conveniently located near shopping, schools, major employers, and Fort Hood, making it attractive to a wide range of renters. Whether you’re expanding your portfolio or beginning your multifamily investment journey, this property offers a solid foundation for long-term cash flow growth and appreciation in a high-demand rental market.