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Apartments Condo For Sale • 33 SF
| Name | Condo Use | Size | Price | Details |
|---|---|---|---|---|
| 1st Floor - Unit 10 | Flex | 33 SF | $2,300,000 USD | |
DescriptionThis fully occupied, gated 10-unit townhome community offers immediate cash flow and significant upside potential. Recent improvements include six HVAC replacements, a new water heater, and renovations to five units. The remaining units provide a clear path to increased revenue through continued upgrades and the addition of in-unit laundry. Located in Galveston's East End rental corridor just minutes from UTMB, the property benefits from strong tenant demand, stable occupancy, and a compelling value-add opportunity. Sale Notes• Projected Monthly Income: $18,000 • Projected Gross Annual Income: $216,000 • Projected NOI: Approximately $172,562 • Projected Value at a 6% Cap Rate: Approximately $2,876,000 |
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Exceptional value-add investment opportunity in Galveston's highly sought-after East End. Located just blocks from UTMB and minutes from downtown Galveston, this gated 10-unit townhome community offers immediate cash flow with 100% occupancy and strong rental demand. The property consists of ten 2-bedroom, 1.5-bath townhome-style units featuring private entries, spacious living areas, functional floor plans, and outdoor patio spaces. Recent improvements include renovated units with upgraded kitchens, granite or quartz countertops, updated cabinetry, stainless steel appliances, modern flooring, and refreshed bathrooms. Residents benefit from desirable amenities including covered parking, on-site laundry facilities, landscaped common areas, and controlled access. Situated on a 10,193 SF corner lot with approximately 9,600 SF of improvements, the property presents significant upside potential through continued unit renovations and rental growth. Its premier location near UTMB, Shriners Children's Hospital, the Seawall, and major employment centers supports consistent occupancy and long-term appreciation. Ideal for investors seeking stable income, future value creation, and a well-positioned asset in one of Galveston's strongest rental corridors. This turnkey multifamily investment combines location, cash flow, and upside potential in a market with enduring demand.
| 100% occupied 10-unit townhome community with established rental history and immediate cash flow |
| Prime location just blocks from UTMB, driving consistent demand from medical professionals, students, and staff |
| Value-add opportunity with 5 renovated units and 5 remaining units offering future upside potential |
| 9 covered parking spaces, a sought-after amenity that enhances tenant appeal and retention |
| Gated property featuring private entries, landscaped common areas, and added resident security |
| Strong in-place income with approximately $138,662 NOI and a 6.03% cap rate in a proven rental corridor |
| Parking Available: | Yes |
| Reserved: | No |
| Spaces Provided: | 9 |
| Type: | Covered |
| Included in Rent: | Yes |
Melody Hopson
eXp Realty