Value-Add Multifamily Apartment
For Sale
$500,000
8020 Stewart Rd, Galveston, TX 77551
Gulfwind Apartments offers 66 units in three two-story buildings with on-site parking and pool areas.
Property Size59,682 SF
Lot Size1.74 Acres
Price / SF$8.35
Days on Market29
Property Features for 8020 Stewart Rd
General Information
Standard status
Active
Size
59,682 SF
Lot size
1.74 Acres
Property subtype
Multifamily Vacant-User
Occupancy
8%
Site & Location
Traffic Count
5,979 vehicles/day
Road Access
Yes
Additional Details
Multifamily Units
66
Amenities
on-site parking
pool areas
multiple street frontages
STARTING BID $500,000 | Gulfwind Apartments | 66 Units | Houston MSA | AUCTION AUGUST 17-19
66 Units Across Three Two-Story Buildings: A value-add multifamily opportunity in Galveston, Texas, ready for full repositioning.
Lease-Up Upside at 7.58% Occupancy Today: Current occupancy of 7.58% creates a clear path to increase revenue through stabilization.
Large Average Unit Size of About 907 SF: Spacious floor plans stand out among comparable value-add multifamily assets in the market.
Diverse Mix of 66 One-, Two-, Three-Beds: Unit mix includes twenty-five 1-beds, twenty-eight 2-beds, and thirteen 3-bed units total.
Elevated Coastal Design Cuts Flood Risk: Units sit raised above grade with under-building parking, reducing storm-surge exposure.
Diverse Demand Drivers Fuel Galveston Economy: Tourism, healthcare, education, port, and maritime industries anchor the local economy.
Building Details
Building Size
59,682 SF
Year Built
1969
Stories
2
Units
66
Construction
elevated/stilt construction
Listing Agency:
Fort Lauderdale Office
(954) 245-3422
Listed By:
Adam Sklaver · License #License(s): FL: SL3429070
(954) 245-3422
Source:
Marcusmillichap
Added: Jul 26
Changed: Aug 8
Last Checked: Aug 23 at 2:31AM
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 Fort Lauderdale Office
Investment Insights
Based on property information with market context.
Gulfwind Apartments is a multifamily community built in 1969, offering 66 units across three two-story apartment buildings. The mix includes (25) 1-bedroom, (28) 2-bedroom, and (13) 3-bedroom apartments, with an average unit size of approximately 907 square feet. The property also includes on-site parking and pool areas, and the buildings are elevated/stilt construction designed to reduce exposure to storm-surge and flood-related risk.
The community is located at 8020 Stewart Road in Galveston, Texas, along Stewart Road with multiple street frontages and an approximate one-block distance to Galveston Beach. The site is positioned near retail, schools, and neighborhood services, and is described as being close to major tourism and employment demand drivers tied to the island’s economy.
The property currently reports 7.58% occupancy and is presented as a value-add opportunity with an emphasis on lease-up, targeted renovations, unit restoration, and operational stabilization.
The community is located at 8020 Stewart Road in Galveston, Texas, along Stewart Road with multiple street frontages and an approximate one-block distance to Galveston Beach. The site is positioned near retail, schools, and neighborhood services, and is described as being close to major tourism and employment demand drivers tied to the island’s economy.
The property currently reports 7.58% occupancy and is presented as a value-add opportunity with an emphasis on lease-up, targeted renovations, unit restoration, and operational stabilization.
Key Highlights
- Gulfwind Apartments includes 66 units across three two‑story apartment buildings totaling approx. 59,850 net rentable SF.
- Built in 1969 on a ±1.74‑acre site with on‑site parking, pool areas, and multiple street frontages.
- Unit mix: (25) 1‑bed, (28) 2‑bed, and (13) 3‑bed; average unit size approx. 907 SF.
Property Analytics
Property Profile
Current Use
Lease Details
66
Residential units
5,979 VPD
Traffic count
7.6%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 77551, TX
22,677
Population
11,184
Households
2
Avg Household Size
42
Median Age
29%
College-Educated
86%
High-School Grad
4.0 sq mi
ZIP Area
5,669
Density / Sq Mi
$59,792
Median Household Income
$33,721
Median Earnings
$1,342
Median Rent
$278,100
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
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Frequently Asked Questions
What type of property is this?
Apartment building - Gulfwind Apartments offers 66 units in three two-story buildings with on-site parking and pool areas.
Where is this apartment building located?
The property is located at 8020 Stewart Rd Galveston, TX.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: Gulfwind Apartments includes 66 units across three two‑story apartment buildings totaling approx. 59,850 net rentable SF.; Built in 1969 on a ±1.74‑acre site with on‑site parking, pool areas, and multiple street frontages.; Unit mix: (25) 1‑bed, (28) 2‑bed, and (13) 3‑bed; average unit size approx. 907 SF.
