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Mike Bowman

[email protected] +1(817) 328-2342

$870,000

Est. payment - /mo

20 Beds

10 Baths

0.49 Acres Lot

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Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

Subdivision Rankin

MLS Listing ID 21129647

Bedrooms 20

Full Baths 10

HOA Y/N None

Total Fin. Sqft 7140

Year Built 1990

Annual Tax Amount $6,702

Lot Size 0.489 Acres

Acres 0.489

Property Sub-Type Apartment

Property Description

Cash-flowing 10-unit property with super 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 or conversion to STR. 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. Each unit features a dishwasher and W-D hookups. Location of the property offers significant upside potential supported by the award-winning Brownwood downtown revitalization project. Last but not least, enjoy the effective property tax rate of 0.6% with ultra-low tax appraised value! Contact listing agent for details.

Location

State TX

County Brown

Direction Drive on Main St turn, find 401 Main st, go around the building to turn into the parking lot

Interior

Interior Features Open Floorplan

Heating Central

Cooling Central Air

Flooring Luxury Vinyl Plank

Fireplaces Type None

Appliance Built-in Refrigerator, Dishwasher, Electric Cooktop, Electric Oven

Heat Source Central

Exterior

Utilities Available City Sewer, City Water, Electricity Connected

Roof Type Composition

Garage No

Building

Story One

Foundation Other

Level or Stories One

Structure Type Frame,Siding

Schools

Elementary Schools Coggin

Middle Schools Brownwood

High Schools Brownwood

School District Brownwood Isd

Others

Acceptable Financing Cash, Conventional, FHA, FMHA

Listing Terms Cash, Conventional, FHA, FMHA

Virtual Tour https://www.propertypanorama.com/instaview/ntreis/21129647

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North Texas Real Estate Info Systems (NTREIS) -MetroTex and Collin County (CCAR)

Listed by Maxim Son • Real Broker, LLC

Nearby School & Business

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Mike Bowman

+1(817) 328-2342

Broker License ID: 0273938

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401 Main Street Brownwood, TX 76801

Mike Bowman

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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