619 Dula St Alvin, TX 77511-2932

This exceptional Alvin, Texas mixed-use property presents a unique investment opportunity. The 3,218 square foot building, constructed in 1964 and renovated in 2018, sits on a 6,250 square foot lot and features a combined townhouse and salon space. Currently 100% occupied with two tenants under a gross lease, the property boasts a strong NOI of $19,386, with a pro-forma NOI of $25,686. The current lease term has 1.5 years remaining, expiring May 31, 2026. The property offers 10 parking spaces and is zoned for commercial use. Located at 619 Dula St, Alvin, TX 77511, this property benefits from a prime location in the heart of Alvin, providing easy access to local amenities and businesses. The asking price is $350,000, representing a price per square foot of $108.76 and a current cap rate of 5.54%, with a pro-forma cap rate of 7.34%. This turnkey operation offers immediate income and significant upside potential in a growing community. The property's versatile layout caters to a wide range of potential buyers and tenants, making it an attractive investment for both owner-users and investors seeking strong returns. The property's combination of residential and commercial space provides a unique opportunity to live and work in a thriving community.