315 8Th Ave Texas City, TX 77590
- Residential income homes
- 2,664 SF
Current Use by Public Records
- Residential income homes
Property Details for 315 8Th Ave
- Year built
- 1953
- Property size
- 2,664 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a four-unit, Class B multifamily property located at 315 8th Ave N, Texas City, TX 77590. The property, built in 1953 and extensively renovated in 2022, boasts a total of 2,664 square feet situated on a 7,125 square foot lot. The two-story building currently enjoys 100% occupancy as of September 1, 2023, generating a strong pro-forma NOI of $23,440, representing a 6.00% cap rate. Priced at $398,000, this translates to an attractive price per unit of $99,500. This stabilized, value-add investment offers immediate cash flow and significant upside potential within the growing Texas City real estate market. The property's strong performance and recent renovations minimize immediate capital expenditure needs, allowing investors to focus on maximizing returns. This fourplex presents a compelling opportunity for both seasoned investors and newcomers seeking a profitable entry into the multifamily market. The property's location in Galveston County provides convenient access to local amenities and infrastructure. This is a rare opportunity to acquire a well-maintained, income-producing asset in a thriving Texas market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Texas City
- County
- Galveston
- State
- Texas
- Longitude
- -94.898790347732
- Latitude
- 29.392448659169
