1915 45th Street,Galveston, TX 77550
Galveston, TX 77550
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.
Details
| MLS # | 56008413 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1970 |
| Days On Site | 38 |
| Listing Provided By | Urban Access Properties | Sharlene Abghary |
Features
| Bed(s) | 5 |
|---|---|
| Bath(s) | 5 Total |
| SQ Feet | 11,520 |
| Story(s) | 2 |
| Units | 14 |
| Acreage | 6000.00 |
Exterior
| Lot Features | Corner Lot |
|---|
Taxes
| Tax Annual Amount | 29194 |
|---|
Area Information
| State | TX |
|---|---|
| County | Galveston |
| City | Galveston |
| Zip Code | 77550 |
| Area | 33 |
| Subarea | Midtown Galveston |
| Community Name | DENVER RESURVEY |
| Listing VS Median (in DENVER RESURVEY) | |
Price: $999,900 low | high Med: $257,000 sqft: 11,520 low | high Med: 971 $ / sqft: $87 low | high Med: $265 On site: 38 low | high Med: 406 | |
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Learn More About This Property
| State | TX |
|---|---|
| County | Galveston |
| City | Galveston |
| Zip Code | 77550 |
| Area | 33 |
| Subarea | Midtown Galveston |
| Community Name | DENVER RESURVEY |
| Listing VS Median (in DENVER RESURVEY) | |
Price: $999,900 low | high Med: $257,000 sqft: 11,520 low | high Med: 971 $ / sqft: $87 low | high Med: $265 On site: 38 low | high Med: 406 | |