500 S Central

    Brownsville, TX 78521
    • $469,500
    • STATUS: Active
    • ON SITE: 133 days
    • MLS #: 29716518
    $469,500
    • 0
      BEDS
    • 0.49
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 8,408
      SQFT
    • $56
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1990
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:

    Description

    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.

    Monthly Payment Calculator

    © 2019 Harlingen Board of Realtors Multiple Listing Service. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or The Monica Benavides Team at Keller Williams Realty LRGV. Data last updated: 2019-07-16T23:51:25.707.
    www.monicabenavidesteam.com/homes/92359424

    500 S Central Brownsville, TX 78521

    • Price: $469,500
    • Status: Active
    • MLS #: 29716518
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.49
    Acres
    8,408
    SQFT
    $56
    $/SQFT
    1990
    Built
    Neighborhood:
    Out Loc
    County:
    Cameron
    Area:
    Brownsville
    Elementary School:
    Other
    Middle School:
    Other
    High School:
    Other
    School District:
    Brownsville I.S.D.
    Property Description
    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.
    Exterior Features

    Carport Details No Carport Construction Slab Exterior Features Deck/Balcony/Porch Exterior Siding StuccoBrickConcrete Fence Type Partial Garage Details No Garage Location Features Corner Lot Outbuildings Other-See Remarks Street Type Paved

    Interior Features

    Conveying Appliances Stove/RangeRefrigerator Energy Features None Flooring Vinyl/Linoleum Heating System Central Interior Features None Special Features None Water Heater Other-See Remarks

    Property Features

    Community Amenities No Special Amenities Proposed Financing CashConventional REO No Water Sewer Public

    Listing provided courtesy of Tom Mason Ii of Mason & Company. © 2019 Harlingen Board of Realtors Multiple Listing Service.
    © 2019 Harlingen Board of Realtors Multiple Listing Service. All rights reserved. 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. Information is deemed reliable but is not guaranteed accurate by the MLS or The Monica Benavides Team at Keller Williams Realty LRGV. Data last updated: 2019-07-16T23:51:25.707.
     
    The Monica Benavides Team at Keller Williams Realty LRGV
    1713 E Tyler Ave. Ste A
    Harlingen TX, 78550