3419 Avenue O Galveston, TX 77550

Property Details for 3419 Avenue O

Year built

1966

Property size

9,323 SF

Property type

Apartment buildings

Description

This exceptional investment opportunity presents a 14-unit apartment building in Galveston, Texas, boasting a compelling 7.30% cap rate and a total asking price of $1,400,000. The property, encompassing two buildings situated on a 10,100 square foot lot, comprises a total of 9,323 square feet of living space. Built in 1966, this two-story complex features 10 units at 3417 Avenue O and 4 additional units at 3419 Avenue O. Each unit commands a price of $100,000, reflecting a strong price-per-square-foot of $150.17. The property generates an estimated gross monthly income of $13,443, providing a stable cash flow for investors. Its prime location in Galveston offers easy access to local amenities, including shopping, dining, schools, and parks, while its proximity to the Gulf Coast enhances its appeal to tenants seeking a coastal lifestyle. The efficient layout of the two buildings simplifies property management and maintenance, minimizing operational costs. This multifamily investment presents a rare opportunity to acquire a well-positioned asset with significant income potential and long-term appreciation prospects, offering resilience against economic fluctuations due to its diversified tenant base. The property's strong financial performance, coupled with its desirable location and efficient management structure, makes it an attractive investment for both seasoned and emerging investors seeking a stable and profitable venture in the thriving Galveston market. The historical significance and cultural attractions of Galveston further enhance the property's desirability and potential for long-term growth.