Current Use by Public Records
- Residential income homes
Property Details for 503 12Th St
- Year built
- 2012
- Lot size
- 2.00 lot acres
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a six-unit multifamily property located at 503 12th St, Dickinson, TX 77539, in Galveston County. The portfolio consists of three existing duplexes, each featuring approximately 1,400 square feet of living space. Each unit boasts three bedrooms, two full bathrooms, a full kitchen, living room, dining area, and a utility room. High-quality finishes include travertine countertops and backsplashes, upgraded fixtures, and all-electric systems. The property sits on a two-acre lot, offering significant potential for future expansion. Plans are available for developing an additional eleven duplexes or twenty-two single-family homes on the remaining land, comprising 28 lots, some of which are already improved. Currently, five of the six units are occupied by long-term tenants, with an 83% occupancy rate as of October 14, 2024. Each unit includes six parking spaces. The property is conveniently located near Galveston Bay and was built in 2012 and has never experienced flooding. The property is zoned unrestricted, providing flexibility for future development. This well-maintained portfolio offers a compelling investment opportunity with strong potential for future growth and income generation. The asking price is $1,145,000.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Dickinson
- County
- Galveston
- State
- Texas
- Longitude
- -94.923
- Latitude
- 29.4907
