Best location on the island for this type of property, walk to Texas famous Pleasure Pier. Big push to bring gambling to state. Recent sale of 1000 sq. ft. smaller building on 6000 sq. ft. no where near the beach for $3.4 million. Huge upside on property especially if gambling goes in on the island although even without rents could easily go up 50% in 5 years. Growth in Galveston and Houston area less than an hour away will continue to push values and rents. Galveston is hugely popular tourist spot, 3rd largest cruise tour port in the country, huge Mardi Gras and Cycle Rally every year 30 miles of beaches attract millions every year.
Listing Status: | Available |
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Property Types: | Apartment Buildings |
Price: | $2,850,000 |
No. of Units: | 23 |
Year Built: | 1930 |
Building Size: | 16,398 Sq ft |
Lot Size: | 18,155.00 Sq ft |
No. of Stories: | 2 |
APN: | 107931 |
Opportunity Zone: | No |
Price per unit: | $123,913 |
Parking Spaces: | 7 |
Description | No. of Units | Sq ft. | Avg. Monthly Rent |
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Income/expense info: | Pro Forma |
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Financial year: | 2023 |
Gross income: | 290000 |
Operating expenses: | 55406 |
Full name | Phone number | Email address |
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Randy Waterman | 9494632100 | [email protected] |
SVN OAK Realty Advisors | Oklahoma
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