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    1102 8Th St Galveston, TX 77550

    For Sale
    $1,200,000

    Beachfront Investment Opportunity: 10 Units, High ROI

    Property size:
    2,800 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    367
    This exceptional 10-unit apartment building presents a lucrative investment opportunity in the thriving Galveston, Texas market. Located at 1102 8th St, this property boasts a prime location, just across the street from the iconic Seawall and a short walk to the vibrant Strand entertainment and shopping district. The complex comprises five buildings, each two stories high, totaling 2,800 square feet on a one-acre lot. Built in 1945, the property offers 12 parking spaces, providing ample convenience for residents and guests. Currently configured as a successful short-term rental operation, all furnishings are included in the sale, making this a turnkey investment. The property's proximity to the beach, restaurants, bars, and shops ensures high occupancy rates and strong rental income. The East End of Galveston is experiencing significant growth, making this a particularly attractive investment in a rapidly appreciating market. The asking price is $1,200,000, representing a price per square foot of $500. The property's APN is 3505-0067-0001-000. This is a rare chance to acquire a well-established, high-performing multifamily property in one of Galveston's most desirable locations. The property's strong rental history and prime location make it an ideal investment for both seasoned investors and those new to the market. Don't miss this opportunity to own a piece of Galveston's vibrant coastal scene.

    Property Features for 1102 8Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    2,800 SF
    Lot Size
    43,560 SF

    Building Details

    Year Built
    1945
    Buildings
    5
    Stories
    2
    Units
    10

    HighLights

    • $1,200,000 asking price for a 10‑unit apartment building.
    • 2,800 square feet, priced at $500 per square foot.
    • Ten units in five buildings, two stories each.
    • Built in 1945, situated on a one‑acre lot with 12 parking spaces.
    • Located at 1102 8th St, Galveston, TX 77550 (APN: 3505‑0067‑0001‑000).
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coastal Cottages Indoor Lodging

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Galveston
    County
    Galveston
    State
    Texas
    Longitude
    -94.7742739
    Latitude
    29.3035611

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    FAQs

    What type of property is this?
    Multifamily property - Beachfront Investment Opportunity: 10 Units, High ROI
    Where is this multifamily property located?
    The property is located at 1102 8Th St Galveston, TX.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: $1,200,000 asking price for a 10-unit apartment building.; 2,800 square feet, priced at $500 per square foot.; Ten units in five buildings, two stories each.
    Request Owner's contact information
    1102 8Th St Galveston, TX 77550
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    Galveston, TX 77550
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    Realmo Value Estimation

    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.

    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.

    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
    1102 8Th St Galveston, TX 77550
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