401 Main, Brownwood, Texas

Description

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.

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