3001 Avenue L Galveston, TX 77550

Property Details for 3001 Avenue L

Year built

1950

Property type

Residential income homes

Description

This exceptional investment opportunity presents a portfolio of five single-family rental units situated on a 7,280 sq ft lot in a desirable Galveston neighborhood. The portfolio comprises four buildings, including a charming single-family home, a duplex with two separate units, each boasting its own entrance and living spaces, and two additional single-family homes. Built in 1950, these one-story structures offer a blend of classic charm and modern convenience. Currently operating at 100% occupancy, this property provides immediate and substantial rental income. The prime location offers proximity to local amenities, including shops, restaurants, and schools, ensuring high tenant demand. The strong rental income, coupled with the potential for future appreciation, makes this a robust investment opportunity for generating steady cash flow and long-term value growth. The attractive location near Galveston's Seawall, Moody Gardens, and the Historic Strand District further enhances the appeal to renters, ensuring continued high occupancy rates. This turnkey portfolio is ideal for investors seeking immediate returns and long-term growth in a thriving coastal market. The asking price is $799,000. This is a Class C multifamily property.