401 Main Street, Brownwood, TX 76801
401 Main Street, Brownwood, TX 76801
401 Main Street, Brownwood, TX 76801
17
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$899,000
Est. payment /mo
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20 Beds
10 Baths
0.49 Acres Lot
Active

401 Main Street Brownwood, TX 76801

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Daniel Demissie

Daniel Demissie

+1(469) 715-2615

UPDATED:

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

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.

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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Listed by Maxim Son • Real Broker, LLC

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Daniel Demissie

Daniel Demissie

Agent | License ID: 746381

+1(469) 715-2615

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401 Main Street