For Sale

$999,900

HIGHLIGHTS:
  • Active
  • $13,166/month
  • 169 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, and four commercial storefronts with a strong history of long-term tenancy. The property producing income with a pro forma cap rate of about 10%. 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: 56008413
  • 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:
$999,900
Price/SqFT:
$86.80
HOA Fee:
Tax Rate:
1.71899 %
Est. Monthly:
$13,166 *
Tax Amount:
$17,188
Amenities and features
  • Corner Lot
Property & Schools on Map
Floor plans / Dimensions / Descriptions
  • Heating:
    Central Gas
    Cooling:
    Central Electric
  • Roof:
    Composition
    Lot Description:
    Corner

Listed By:
Sharlene Abghary

Urban Access Properties

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