About 401 Main Street
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.
Features of 401 Main Street
| MLS® # | 21129647 |
|---|---|
| Price | $870,000 |
| Bedrooms | 20 |
| Bathrooms | 10.00 |
| Full Baths | 10 |
| Acres | 0.49 |
| Year Built | 1990 |
| Type | Residential Income |
| Sub-Type | Apartment |
| Status | Active |
Community Information
| Address | 401 Main Street |
|---|---|
| Subdivision | Rankin |
| City | Brownwood |
| County | Brown |
| State | TX |
| Zip Code | 76801-2964 |
Amenities
| Utilities | City Sewer, City Water, Electricity Connected |
|---|---|
| Parking Spaces | 20 |
| Garages | Concrete, Paved |
| Is Waterfront | No |
| Pool On Property | No |
Interior
| Interior Features | Open Floorplan |
|---|---|
| Heating | Central |
| Fireplace | No |
| Fireplaces | None |
Exterior
| Roof | Composition |
|---|---|
| Construction | Siding, Frame |
| Foundation | Other |
School Information
| District | Brownwood ISD |
|---|---|
| Elementary | Coggin |
| Middle | Brownwood |
| High | Brownwood |
Additional Information
| Flooring | Luxury Vinyl Plank |
|---|---|
| Net Income | $79,515 |
| Building Sqft | 7,140 |
| # Units | 10 |
Listing Details
| Agent | Maxim Son |
|---|---|
| Office | Real Broker, LLC |