901 E 16th Ave 3 Unit Apartment Building $850,000 ($283,333/Unit) Corsicana, TX 75110

The Property offers a tremendous opportunity for buyers to add value through redevelopment. Zoned as MF-1, the Property allows for multifamily conversation and a variety of other uses. Located in an opportunity zone, the current owners original plan was to convert the Property into a 30+ unit apartment building. New ownership now has the ability to take advantage of this by performing a full gut-rehab.
Corsicana is home to Navarro College, which has an annual student enrollment of 9,000 students and employs faculty and staff of 430. The Property is strategically located south of Downtown Corsicana, near the high trafficked I-45 which allows easy access in and out of the city. Located just 55 miles away from the D/FW Metroplex, which was ranked No. 1 in the nation in raw population growth in 2021. The Property is located in a market with a major housing shortage allowing a new owner to capitalize on high occupancy. The demand creates the ability to charge strong rents and maximize cashflows. The area is home to a vast selection of employers across several industries, including construction, manufacturing, food storage and shipment, as well as machining and fabrication, offering workers a multitude of opportunities.