For Sale

$1,375,000

HIGHLIGHTS:
  • Active
  • $17,579/month
  • 39 DOM
  • 2 Stories
  • 0 Beds
  • 11,520 SqFT
Description

Drive-by only. Exceptional opportunity to acquire a high-yield mixed-use investment property in Galveston, Texas. This diversified asset includes seven residential units, additional detached residential structures, rear storage income, and four commercial storefronts with a strong history of long-term tenancy. The property produces approximately $196,800 in projected annual gross income with a pro forma cap rate of about 10.8%. Even with conservative underwriting including vacancy and repair reserves, the asset performs near a 9% cap rate, making it attractive to both cash-flow investors and leveraged buyers. Multiple income streams provide strong stability, while value-add potential exists through rent optimization & continued property improvements. Several commercial tenants have been in place since 2010, reflecting strong location fundamentals and tenant retention. Rare opportunity to acquire a high-performing coastal Texas mixed-use asset with immediate income and long-term upside.

Overview
  • MLS Number: 25533848
  • Type: Multi-Family
  • Bedrooms: N/A
  • Bathrooms: N/A
  • Garages: N/A
  • Size: 11,520 SqF
  • Land Size: 6,000 sqft
  • Year Built: 1970
Financial
Price:
$1,375,000
Price/SqFT:
$119.36
HOA Fee:
Tax Rate:
1.71899 %
Est. Monthly:
$17,579 *
Tax Amount:
$23,636
Amenities and features
Property & Schools on Map
Floor plans / Dimensions / Descriptions
  • Heating:
    Central Gas
    Cooling:
    Central Electric
  • Roof:
    Composition

Listed By:
Sharlene Abghary

Urban Access Properties

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