Building Details

Building Size 3,325 SF

Year Built 1994

Stories 2

Listing Agency: 5th Stream Realty r***@garygreene.com Show Phone

Listed By: Randy Corbin Show Phone

Source: Garygreene

Added: Jul 30 Changed: Aug 2 Last Checked: Aug 2 at 3:57AM

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Investment Insights

Based on property information with market context.

This waterfront multifamily property on Tiki Island includes two contemporary residences within a 3,325-square-foot compound. Both homes were extensively reconstructed with modern finishes and are arranged around a shared pool area featuring an outdoor kitchen, outdoor shower, and gathering spaces. Each residence also has a separate outdoor entertaining area.

Water-oriented improvements include two private boat slips and two jet ski lifts, providing direct access to Galveston Bay for boating, fishing, and water sports. The property is located at 1047 & 1027 Long Reach Drive and was originally built in 1994. Additional features include waterfront views, a cul-de-sac setting, garages, garage door openers, engineered hardwood, tile, storm windows, ceiling fans, and programmable thermostats.

Key Highlights

• Two contemporary residences extensively rebuilt with modern finishes
• 3,325‑square‑foot waterfront multifamily compound on Tiki Island
• Two private boat slips and two jet ski lifts

Property Analytics

Current Use

Duplexes

Suggested Use

Top Pick HVAC Service Plumbing Service Grocery & Convenience Store Storage Facility Pharmacy Kitchen & Bath Showroom

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

75

Businesses Nearby

Explore this area Business Placement

Demographics for 77554, TX

8,961

Population

10,516

Households

0.9

Avg Household Size

53

Median Age

49%

College-Educated

96%

High-School Grad

31.1 sq mi

ZIP Area

288

Density / Sq Mi

$87,093

Median Household Income

$49,471

Median Earnings

$1,449

Median Rent

$430,500

Median Home Value

Market

Vacancy Rate% for Multifamily in South region

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

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Frequently Asked Questions

What type of property is this?

Multifamily property - Two renovated residences share a resort-style pool, outdoor kitchen, and private boating amenities.

Where is this multifamily property located?

The property is located at 1047 & 1027 Long Reach Drive Tiki Island, TX.

What is the asking price?

The asking price for this property is $3,950,000.

What are key features of this property?

This property features: Two contemporary residences extensively rebuilt with modern finishes; 3,325‑square‑foot waterfront multifamily compound on Tiki Island; Two private boat slips and two jet ski lifts