Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Turnkey Galveston Multifamily Investment Property Title is generated by Realmo AI

    1515 19th St, Galveston, TX 77550

    View on Map
    Claim this Listing
    For Sale
    $925,000

    Fully remodeled, 6-unit property near UTMB and the beach.

    Type:Investment
    Added:
    Apr 11, 2026
    Days on Market:
    51
    Last Refresh:
    Apr 11 at 6:21 am

    Property Features for 1515 19th St

    General Information

    Standard status
    Active
    Property subtype
    Investment

    Building Details

    Year Built
    1970

    We can help!

    Listing Contact
    Michael Ramirez

    Listing agent Michael Ramirez License #0427512

    Listing office

    Listing date Apr 11, 2026

    Source Elliman

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Michael Ramirez

    HighLights

    • Turnkey, fully remodeled 6‑unit income‑producing property, 100% occupied with immediate cash flow.
    • Prime location: Minutes from UTMB and six blocks from the beach.
    • Fully furnished and beautifully updated units suitable for long‑term or short‑term rentals.
    • Expansive outdoor pavilion with seating areas, pergolas, lighting, and fountain, offering a resort‑like atmosphere and expansion potential.
    • Strong tenant demand from medical professionals, students, and vacation renters.
    • Excellent bike score (74) and walk score (80) on an extra‑wide street with bike lanes.

    Overview

    This turnkey, income-producing multifamily property is located minutes from UTMB and the beach in Galveston. The fully remodeled property is 100% occupied, offering strong in-place income with immediate cash flow and future upside. The property features six units: one 2-bedroom 1-bath unit, four 1-bedroom 1-bath units, and one efficiency. All units are fully furnished and beautifully updated, making them suitable for long-term or short-term rental flexibility. A standout feature is the expansive outdoor pavilion, designed for gathering and entertaining. It includes multiple seating areas, custom pergolas, string lighting, and a central fountain space, creating a resort-like atmosphere. The pavilion also offers room for expansion, adding additional income potential. Located six blocks from the beach on an extra-wide street with bike lanes and less than 2 miles from the UT Medical Branch, the property is well-positioned for consistent tenant demand from medical professionals, students, and vacation renters. The property has a bike score of 74, indicating it is very bikeable, and a walk score of 80, indicating it is very walkable.
    Location Intelligence

    Current Use by Public Records

    Short term rental ...

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Galveston
    County
    Galveston
    State
    Texas
    Longitude
    -94.7858799
    Latitude
    29.2961746

    Nearby Similar for Sale

    • $850,000
      3,840 SF

      Historic Farbs Liquor Store

      Galveston retail property with recent roof updates.
      4302 Broadway Street, Galveston, TX 77550
      View Details
    • $948,000
      5,228 SF

      Galveston Commercial Building For Sale

      Commercial building with ample parking, located near Seawall Blvd.
      1810 23rd, Galveston, TX 77550
      View Details
    • $1,450,000
      18,192 SF

      Galveston Mixed-Use Home/Office Building

      Unique mixed-use property in downtown Galveston with residential and office space.
      2415 Church Street, Galveston, TX 77550
      View Details
    • $885,000
      6,560 SF

      Galveston Commercial Property For Sale

      Commercial property featuring office and warehouse space on Broadway Street.
      3928 Broadway Street, Galveston, TX 77550
      View Details
    • $799,500
      3,840 SF

      Historic Galveston Liquor Store For Sale

      Historic liquor store on Broadway St, Galveston, TX for sale.
      4302 Broadway St, Galveston, TX
      View Details
    • $365,000
      1,020 SF

      Galveston Multifamily Property Near Beach

      Multifamily property featuring a house and duplex near the beach.
      5224 Ave M 1/2, Galveston, TX 77550
      View Details
    • $995,000
      4,848 SF

      Restored Historic Mixed-Use Building

      Restored historic building with retail space and residential potential.
      2127 Broadway St, Galveston, TX 77550
      View Details
    • $3,200,000
      20,640 SF

      Historic Mixed-Use Building, Galveston

      Elegant, three-story building with retail and residential units.
      2119 Strand, Galveston, TX 77550
      View Details
    • $2,500,000
      7,103 SF

      Galveston Commercial Property for Sale

      Two-acre commercial property in Galveston's Midtown with endless possibilities.
      5717 Stewart Road, Galveston, TX 77551
      View Details
    • $389,000

      Coastal Property Near Beach

      Flexible property near the beach with income potential.
      1514 15th St St, Galveston, TX 77550
      View Details
    • $209,500
      782 SF

      Galveston Cottages Investment Opportunity

      Two cottages on one lot near Galveston's amenities.
      4413 Bernardo de Galvez, Galveston, TX 77550
      View Details
    • $479,000

      Galveston Income-Producing Duplex Opportunity

      Two homes on one lot, tenant-occupied with leases.
      3312 Sealy St AB, Galveston, TX 77550
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully remodeled, 6-unit property near UTMB and the beach.
    Where is this apartment building located?
    The property is located at 1515 19th St Galveston, TX.
    What is the asking price?
    The asking price for this property is $925,000.
    What are key features of this property?
    This property features: Turnkey, fully remodeled 6‑unit income‑producing property, 100% occupied with immediate cash flow.; Prime location: Minutes from UTMB and six blocks from the beach.; Fully furnished and beautifully updated units suitable for long‑term or short‑term rentals.
    (832) 309-3789
    We can help!
    Listing Contact
    Michael Ramirez
    Real Estate License ID: 0427512
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1515 19th St, Galveston, TX 77550
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!