Description
Offered below recent appraisal, this well-located 9-unit multifamily property presents an exceptional investment opportunity on Galveston Island. The property is 100% occupied and offers immediate upside through rent escalations and optimization. Unit mix includes seven individual, free-standing 2-bedroom/1-bath structures plus one elevated duplex. All 7 units are situated on one parcel, and the duplex is located on the adjoining parcel. Providing strong income potential and long-term stability, this complex is ideally positioned on the north side of the Island, just 2 blocks from the major thoroughfare of Broadway Avenue, and 3 blocks from Harborside Drive. The Port of Galveston and the Texas A&M - Galveston campus are also conveniently nearby. Ample off-street parking is a rare Island amenity that further enhances tenant appeal. Pro-forma cap rate reflects management and vacancy/loss assumptions. Estate sale and court approval required. Proof of funds required before initial showing.
Details
| MLS # | 54271658 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1950 |
| Days On Site | 216 |
| Listing Provided By | Joe Tramonte Realty, Inc. | Hudson Holmes |
Features
| Bath(s) | 7 Total |
|---|---|
| SQ Feet | 5,588 |
| Story(s) | 1 |
| Units | 9 |
| Acreage | 15479.00 |
Taxes
| Tax Annual Amount | 10724 |
|---|
Area Information
| State | TX |
|---|---|
| County | Galveston |
| City | Galveston |
| Zip Code | 77550 |
| Area | 33 |
| Subarea | Downtown Galveston | The Strand |
| Community Name | Galveston Townsite |
| Listing VS Median (in Galveston Townsite) | |
Price: $750,000 low | high Med: $329,950 sqft: 5,588 low | high Med: 2,102 $ / sqft: $134 low | high Med: $161 On site: 216 low | high Med: 46.5 | |
Request a showing
Request a showing
Contact
Learn More About This Property
| State | TX |
|---|---|
| County | Galveston |
| City | Galveston |
| Zip Code | 77550 |
| Area | 33 |
| Subarea | Downtown Galveston | The Strand |
| Community Name | Galveston Townsite |
| Listing VS Median (in Galveston Townsite) | |
Price: $750,000 low | high Med: $329,950 sqft: 5,588 low | high Med: 2,102 $ / sqft: $134 low | high Med: $161 On site: 216 low | high Med: 46.5 | |
.jpg){kind=logo}
Land & Ranch 210.483.7500 | Bandera 830.850.6700 | Global Luxury 210.483.5700 | Coldwell Banker Commercial Alamo City 210.483.6250
North Central San Antonio / Stone Oak 210.483.7070 | Harper Property Management 210.483.7040 | Relocation Services 210.483.7121
North West San Antonio 210.483.0000 | Laredo 956.722.4822 | Coldwell Banker Commercial International Gateway 956.937.2867
