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MODR Brokerage LLC
1915 45th St, Galveston, TX 77550
- $999,900
- 5
- BD
- 5
- BA
- 11,520
- SqFt
- List Price
- $999,900
- Status
- ACTIVE
- MLS#
- 56008413
- Bedrooms
- 5
- Bathrooms
- 5
- Living Area
- 11,520
- Lot Size
- 6,000
- Area
- 33
Property 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.
Additional Information
- Roof
- Composition
- Region
- 33
- School District
- Galveston
- Elementary School
- Gisd Open Enroll
- High School
- Ball High School
- Middle School
- Gisd Open Enroll
- Stories
- 2
- Street Name
- 45th St
- Street Number
- 1915
- Neighborhood
- Midtown - Galveston
- County
- Galveston
- Heating
- Central, Natural Gas
- Lot Description
- Corner Lot
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Listing courtesy of Listing Agent: Sharlene Abghary (sabghary@gmail.com) from Listing Office: Urban Access Properties.