Published on: Friday, November 22, 2024
Updated on: Friday, November 22, 2024
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About the Lister
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Name: TIM LARSON
Company: Keller Williams Memorial/KW Commercial
Office Phone: (713) 461 9393
Cell Phone: (281) 508 0800
Provide Your Service
Financing  Business  Material
  Income Prop Near Beach
1623 Ave N 1/2, Galveston Texas , 77550
1623 Ave N 1/2, Galveston Texas                                                                                               , 77550Keller Williams Memorial/KW Commercial
Listing ID: CL-Texas-12937

Purchase Option

Acquisition Option: Traditional Purchase
Cap Rate (%): 5.93
Net Operating Income: Contact Lister
Commission Split (%): 0
Quick Glance
Listing ID: CL-Texas-12937
Status: Accepting Offers
Financing: Third Party Financing
Occupancy: 75%
Year Build: 1920
Building Size: 2,383.00 SqFt
Lot Size: 5,160.00 SqFt.
No of Stories: 2
No of Parking: N/A
Offer to Millionaire Club: No
Business Available for Sale: No
Is Net Lease Investment: No
Property On Ground Lease: No
Building Status: Existing
Listing Summary
Exceptional Investment Opportunity – Just Blocks from the Beach! Discover this incredible 4-plex, a well-maintained and low-maintenance property with excellent cash flow potential in a prime beachside location.
Complete Details
Year Build: 1920
Building Size: 2,383 SqFt.
No of Stories: 2
Total Lot Area: 5160 SqFt.
No of Parking: N/A
No of Total Units: N/A
Property Current Status: Normal Sale
Building Status: Existing
Heating and Cooling: Not Specified
Building Class: C
Property on Ground Lease?: No
Net Lease Investment?: No
Business Price Included?: No
Roofing: Not Specified
Occupancy: 75%
Full Description
Exceptional Investment Opportunity – Just Blocks from the Beach! Discover this incredible 4-plex, a well-maintained and low-maintenance property with excellent cash flow potential in a prime beachside location. The property features a spacious 2 bed/1.5 bath upstairs unit (Vacant), a cozy 1 bed/1 bath garage apartment, and two efficiency (studio) units downstairs, offering a diverse rental mix to maximize your income. Recent upgrades include a new roof (2020), all siding replaced with Hardie plank, along with many interior unit upgrades. The vacant unit is ready for immediate showings by appointment, while the tenant-occupied units will be shown upon an accepted offer. This is a rare opportunity to invest in a highly desirable area, just a short stroll from the beach! Charming four-unit property situated in a vibrant neighborhood, just a short distance from the beach and local attractions. This residence features a cozy layout with inviting living spaces in each unit, ideal for both relaxation and entertaining. The property may boast unique architectural details characteristic of Galveston's historic homes, along with modern amenities for comfort. With its great potential as an income property, it offers an excellent opportunity for investors or those looking to generate rental income. Outdoor space often includes a lovely yard, perfect for enjoying the coastal breeze. Its proximity to shopping, dining, and recreational activities makes it an attractive option for both residents and visitors looking to experience the island lifestyle.
Additional Properties
Property Highlights
  • Exceptional Investment Opportunity – Just Blocks from the Beach!
  • Incredible 4-plex, a well-maintained and low-maintenance property with excellent cash flow potential in a prime beachside location.
  • Spacious 2 bed/1.5 bath upstairs unit (Vacant), a cozy 1 bed/1 bath garage apartment, and two efficiency (studio) units downstairs
  • Diverse rental mix to maximize your income and in good overall condition.
  • Recent upgrades include a new roof (2020), all siding replaced with Hardie plank, along with many interior unit upgrades.
  • This is a rare opportunity to invest in a highly desirable area, just a short stroll from the beach!
Actual - Cash Flow
Cash Flow Year Gross Income Effective GrossIncome Operating Expenses Net Operating Income Pre Tax Cash Flow Cap Rate
2024
$0
$0
$0
$41,538
$0
0%
Cash Flow for Current Listings
Listing Location
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Modified On: 10/11/2024
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Listing ID: CL-Texas-12400
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Listing ID: CL-Texas-11530
Listing Type: Commercial
Category: Land - Commercial
Status: Active
Created On: 8/23/2024
Modified On: 8/23/2024
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