500 S Central, Brownsville

$430,000

0 Beds
0 Baths
8,408 Sqft
.49 Acres
0 Garages

Mixed use, value-add investment opportunity with 6 apartments and a commercial building, currently being used as a laundry facility. Six, large 3 bedroom, 2 bath units (averaging 1,030 SF) being leased for $540-$585, totaling $3,415 gross monthly income. Well maintained building with spacious floorplans and long-term tenants. Quick Trip Laundry is currently on a 10-year triple net lease (expires 04/30/2027), with step up rental payments for years 4-10. Base rent for years 1-3 is $1,545 + estimated tax and insurance reimbursement of 24% of actual cost, equates to an effective gross monthly rent of approximately $1,830/month. Lessee has been in the laundry business since 1981 and operates 8 laundry facilities.

Essential Information
MLS® #29716518
Price$430,000
Square Footage8,408
Acres0.49
Year Built1990
TypeMulti-Family
Sub-TypeMultiplex (2-10)
StatusPending
Community Information
Address500 S Central
AreaBrownsville
SubdivisionOut Loc
CityBrownsville
CountyCameron
StateTX
Zip Code78521
Amenities
AmenitiesNo Special Amenities
FeaturesNone
ParkingNo Carport
GaragesNo Garage
Interior
InteriorVinyl/Linoleum
Interior FeaturesVinyl/Linoleum
AppliancesStove/Range, Refrigerator
HeatingBrick
Stories2
Exterior
ExteriorBrick, Stucco, Concrete
Exterior FeaturesDeck/Balcony/Porch
Lot DescriptionCorner Lot
FoundationSlab
School Information
DistrictBROWNSVILLE I.S.D.
ElementaryOther
MiddleOther
HighOther
Listing Details
AgentTom Mason Ii
OfficeMASON & COMPANY
Property History
Status Changed from Active to Pending
Price Reduced from $469,500 to $430,000
LISTING MAP

Listing information provided by Rio Grande Valley MLS. IDX Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but not guaranteed accurate by the MLS.

Listing information last updated on March 31st, 2020 at 1:53pm CDT.