MULTIFAMILYRADAR
11-Unit Multifamily in Cleburne, TX, photo 1
Value-add
$2,750,000

11-Unit Multifamily in Cleburne, TX

TX · listed Jan 21, 2025 (645 days)

Price per unit compared
This property$250K
Within ~40 mi (131)$131K
Texas median (1,196)$92K
$/unit
$250,000
▲ 171% vs TX · 91st pct
Cap rate
—
 
Gross yield
—
 
Units
11
2 bldg · 1890

Financials

Asking price
$2,750,000
Price per unit
$250,000
Price per sq ft
$138
Gross rent / year
Not stated
Net operating income
Not stated
NOI per unit
Not stated
Cap rate
Not stated
Gross yield
Not stated
Occupancy
Not stated

As stated by the seller. Verify during due diligence.

Building

Units
11
Unit mix
eleven spacious, fully-leased loft apartments
Buildings
2
Year built
1890
Building size
20,000 sq ft
Avg unit size
1,818 sq ft
Lot size
0.13 acres
Condition
Value-add

Deal terms

Owner financing
Not stated

Listing

Listed
Jan 21, 2025
Days on market
645 days
On MultifamilyRadar
Oct 28, 2026
Last price change
Not stated
Location
Approximate (~0.5 mi)
Listing #
1949

About this property

For Sale: (address on request) | Historic Downtown Cleburne, TX

An extraordinary opportunity to own a cornerstone of Cleburne’s historic downtown! (address on request) is a beautifully preserved and thoughtfully updated mixed-use building, rich with history and brimming with modern potential.

Built in the late 19th century, this iconic property stands as a testament to Cleburne’s vibrant past while offering dynamic income-producing possibilities for the future. The top two floors feature eleven spacious, fully-leased loft apartments, each blending classic architectural charm with contemporary conveniences — a highly desirable combination that ensures steady residential income.

On the ground floor, the property offers prime retail and office space with multiple units currently leased and additional opportunities for expansion. With its unbeatable location in the heart of downtown, the street-level commercial spaces boast high visibility, steady foot traffic, and close proximity to shops, restaurants, and city offices, making it ideal for retail, dining, or professional services.

Whether you're an investor seeking a rare, income-generating property or an entrepreneur wanting a unique space to grow your business, 201-205 E Chambers offers limitless potential wrapped in historical elegance.

Don't miss the chance to be part of Cleburne’s past, present, and future — schedule your private tour today!

Additional amenity: 14 onsite parking spaces, a valuable asset in the downtown area. The ground floor has a large grease trap to accommodate restaurant/food tenants.

Property currently generates 20k per month with 3650sf of prime commercial space with a grease trap available.

Historical conversion in the heart of Cleburne and it's revitalization.

Highlights

  • Diverse Income Streams: Residential loft apartments and commercial leases offer built-in income diversification.
  • Historic Tax Incentives: Potential eligibility for historic preservation tax credits and local incentive programs.
  • Residential Units: Eleven operating loft apartments to generate stable monthly rental income.
  • Value-Add Potential: Opportunity to increase rents, modernize commercial interiors, or reposition spaces for higher-end tenants.
  • Prime Location: Situated in the heart of Cleburne’s revitalized downtown district, surrounded by ongoing community development and city investment initiatives.
  • Strong Rental Demand: Limited supply of similar historic loft-style living in the area ensures continued high occupancy.
  • Future Appreciation: Downtown Cleburne is experiencing renewed growth and investment, offering significant upside potential over time.

Location

Approximate area. The exact address is shared on request.

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