Attention Investors! This unique income-generating property in Carthage, Texas, includes a 10-unit apartment complex, along with additional acreage with great potential for various uses. There is also a 3-bedroom, 2-bath brick home on the same tract. The house is being sold separately as a residential property under LAAR MLS #20246137. The seller prefers to sell both to the same buyer. Situated on approximately 7.5 acres, with an additional adjacent property interest bringing the total to 11.25 acres. Explore the full property with the virtual tour link. The apartment complex consists of 10 tenant-occupied units, each approximately 500 square feet. Three of the units are 2-bedroom, 1-bath, while the remaining seven units are 1-bedroom, 1-bath. The property maintains high occupancy, ensuring steady cash flow. The owner actively manages repairs as needed and upon tenant turnover. Utilities are structured with the owner covering water and trash, while tenants pay for their own electricity, except for one unit that has slightly higher rent to compensate. This is a turnkey investment with immediate income potential and room for expansion. Donâ??t miss this opportunity to acquire a fully leased property with development possibilities.
Carthage is located in Texas. Carthage, Texas has a population of 6,510. Carthage is less family-centric than the surrounding county with 26.24% of the households containing married families with children. The county average for households married with children is 33.36%.
The median household income in Carthage, Texas is $44,951. The median household income for the surrounding county is $54,853 compared to the national median of $69,021. The median age of people living in Carthage is 36.6 years.
The average high temperature in July is 93.4 degrees, with an average low temperature in January of 35.7 degrees. The average rainfall is approximately 51.7 inches per year, with 0.8 inches of snow per year.
