About this property

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.

Features and Additional Information