401 Main St - Apartments FOR SALE


Brownwood, TX 76801
$870,000 USD
512-813-9500
401 Main St, Brownwood, TX for Sale
$870,000 USD
Apartments - FOR SALE
1/19
null | 9.14% Cap Rate

401 Main St
Brownwood, TX 76801


HIGHLIGHTS

  • Fully occupied 10-unit property with strong rent growth
  • Recent $124K renovations including HVAC, LVP flooring, and appliances
  • Prime Main Street location near downtown amenities
  • Each unit features 2 bed/1 bath layout with full appliance package
  • Separately metered utilities for higher NOI and easy management
  • Significant upside potential supported by downtown revitalization and regional economic growth

OVERVIEW

Cash-flowing 10-unit property with strong occupancy in an unbeatable downtown Brownwood location.? All utilities separately metered and paid by tenants.? The property offers multiple value add strategies including conversion to 20 units and/or STR/boutique hotel.? The property is sitting on a 0.5 acre lot in a prime location on Main St, offering excellent visibility and unbeatable convenience for tenants.? 5 minute walk to the Howard Payne University campus and 7 min min drive to Hendrick Medical Center.? $120k+ of improvements in recent years including updated electrical, plumbing, LVP flooring, new parking lot, and more.? All units have identical layout - 2 bed 1 bath and 720 sqft - perfect size for single, retiree, or small family.? The layout is a perfect fit for conversion to 20 units.? Seller is getting bids on conversion, ask listing agent for details.? Location of the property offers significant upside potential supported by Brownwood downtown revitalization project.? Last but not least, enjoy the effective property tax rate of 0.6% with ultra-low tax appraised value! **NO SELLER FINANCING, NO WHOLESALE OFFERS, AGENTS AND END-BUYERS ONLY** Contact listing agent #2 Max Son for details.

FOR SALE DETAILS

PRICE

$870,000 USD

PRICE/SF

$122 USD /SF

# OF UNITS

20

PRICE/UNIT

$43,500

CAP RATE

9.14%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Office/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,836 SF

ZONING

MF

APN/PARCEL ID

55806

ASK ABOUT THIS PROPERTY

Jeff McElroyReal Broker, LLCMore Info
512-813-9500

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Jeff McElroyReal Broker, LLCMore Info
512-813-9500

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.