Michelle Lim

REMAX Premier
License number: 0630492
phone: (972) 696-9546
 mobile: (214) 205-1338
 fax: (972) 403-2015
 www.mlzip.com
2100 Dallas Parkway Suite102
 Plano, TX 75093
$899,000
401 Main Street, Brownwood, Texas 76801, USA
MLS#
21129647
Property type
Residential For Sale, Apartment
Land size
0.49 sqft (0.05 m2)
Building Size
7,140 sqft (663.3 m2)
Status
Bedrooms
20
Baths
10
Sale price per sqm
0 $
Virtual Tour
100% occupied cash-flowing property in the heart of downtown Brownwood. The Brownwood Cottages is a 10-unit property consisting of five identical buildings with a total of 7,140 rentable square feet. The property is situated on a 0.5 acre lot in a prime location on Main St, offering excellent visibility and unbeatable convenience for tenants, with everything Brownwood Downtown has to offer just a short walk away. 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 new parking lot, LVP flooring, appliances, etc. The property also features copper wiring and mostly updated PVC plumbing offering peace of mind and low maintenance costs moving forward. All units have identical layout - 2 bed 1 bath and 720 sqft - perfect size for single, retiree, or small family. Each unit features a full appliance package including dishwasher, as well as washer-dryer hookups. All utilities are separately metered and paid by tenants. The property is 100% occupied with a waitlist of tenants and has shown strong rent growth and occupancy due to fantastic location. The Brownwood Cottages offer significant upside potential for investors, supported by the award-winning Brownwood downtown revitalization efforts and the spillover economic growth driven by major data-center development in Abilene, just an hour away. Last but not least, enjoy the effective property tax rate of 0.6% with ultra-low tax appraised value. Seller will install brand new roofs on all 5 buildings before the close. Contact listing agent for details.
Property Details
1990 Year Built:
Building or Complex name: Brownwood Cottages Location:
Siding Construction:
Siding Exterior Description:
Resale Condition:
Built-In Refrigerator/Freezer, Dishwasher, Cooktop - Electric, Oven-Electric Appliances:
city water, City sewer Utilities:
Central Heating System:
Central Cooling System:
composition Roofing:
Parking / Garage
20 Number of parking spaces:
School Information
150 School District:
Coggin Elementary School:
Brownwood High School:
Brownwood Middle School:

Listing by: Real Broker, LLC
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