Listed by eXp Realty Houston, eXp Realty LLC
Unpriced
Carthage Motel
Details
Property Type Multifamily, Hospitality
Sub Type Single Family Rental Portfolio, Apartment Building
Square Footage 18,550
Units 14
Beds 14
Broker Co-Op Yes
Class C
Year Built 1957
Year Renovated 2026
Buildings 1
Stories 1
Investment Type Owner/User
Ground Lease No
Ownership owner
Sale Condition For sale by owner
Turn Key Income Producing Motel with huge Multifamily Conversion Play
Marketing description
Owned for 31 + years only selling to retire. Cash flowing GEM tenant occupied with weekly/daily tenants;
- Voted BEST MOTEL in Carthage, TX two years in a row! Well maintained gem with high traffic
- 13 beds, 13 bath + one bedroom, one bath fully remodeled home onsite!
- Avg gross for each tenant per room monthly=$930-$1200
- Avg daily/weekly rates= $50- $55/Day; Weekly rates upwards of $300/per room per week
- Monthly NOI as low as $3,000 (includes all utilities and insurance)
- $14,000K+ a monthly income if all units are full.
This is a rare opportunity to own a meticulously maintained and remodeled 13-unit motel, accompanied by a delightful 1-bedroom, 1-bath house on the premises. Owned by the same dedicated proprietor for 31 + years, this income-producing property is now available due to the owner's retirement.
Property Highlights:
- Fully Remodeled: The entire property has been recently updated with modern appeal, ensuring comfort and satisfaction for tenants and guests.
- Steady Income: Currently operating and tenant occupied, offering a transferable immediate reliable and consistent income stream.
- Conversion Potential: Ideal for first time hospitality buyers, those looking to add to their hospitality portfolio, or investors looking to convert into multi-unit apartments, further enhancing its value and profitability.
- Owner's Residence: Includes a charming 1-bedroom, 1-bath house, perfect for an on-site manager or additional rental income.
Owner finance available with a minimum $100k down***
Must sign NDA and provide POF, and valid ID for P&L’s contact : [email protected]; required to proceed to contract.
Price Negotiable on all cash offers with quick close.
Investment highlights
Prime Location:
- Right off of Major HWY 59
- Carthage voted as best small town in TEXAS! Town has all major retail stores, and
- Convenient Access: Just a 45-minute drive to renown Margaritaville, Horseshoe Casino, offering entertainment and dining options.
- Healthcare Hub: Located near UT Health, providing excellent healthcare facilities.
- Economic Powerhouse: Home to major oil and gas companies, including Exxon Mobil, Baker Hughes, Chesapeake Energy, DCP, and Chevron.
- Industry Presence: Proximity to Tyson Chicken operations, adding to the area's economic diversity.
- Home to Panola Junior College
This property represents an amazing investment opportunity with its blend of charm, modern updates, and strong occupancy rates. Don't miss the chance to own this versatile and profitable real estate gem.
Listing Contacts
Listed by eXp Realty Houston, eXp Realty LLC
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Zoning
GB-2 CommercialGeneral CommercialGeneral Business District
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