Property Description

Opportunities abound with this property that could possibly be retail on the 1st floor and a residence on the 2nd floor or continue to be a residential income investment property. Discover a piece of Texas history with this charming property built in 1896 in the heart of the downtown historic district. Originally designed as a hotel, this designated historical building has been thoughtfully adapted into a multifamily setup, featuring three updated apartments for generating steady rental income while preserving its vintage appeal. Spanning approximately 6,336 square feet on a spacious lot with parking lot, the property offers versatility for various uses including food service, office, retail, or continued residential use. The second floor apartment spans the entire floor and features 5 bedrooms, a full kitchen, living room and office with custom built in shelving. Enjoy modern comforts such as central heating and air conditioning, dishwasher, disposal, and microwave in units, paired with classic features such as brick and stucco foundation, tar and gravel roof, and high ceilings (11-14 feet) with wood and concrete flooring. Outside, the property features a huge lot with a private patio in the back, an upper deck for outdoor relaxation, and a sprinkler system for easy maintenance. With 12 common parking spaces and convenient access via East Henderson, this property is ideally positioned for tenants or business operations. Additional highlights include individual water meters, city sewer utilities, and no HOA fees. This income-producing gem currently has low rents with significant upside potential, making it a smart investment in a growing area. Built area: 6,336 sq ft (gross); 4 units total. Zoning is MF-2 High-Density Residential District. The site is also located in the Downtown Core Overlay (DTC). Also, this property might qualify for the City of Cleburne downtown rehabilitation matching incentive grant program (see information in supplemental documents).

Property Features