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3705 Winnie, Galveston, TX 77550

$750,000
: 7
BA
: 5,588
SqFt

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List Price: $750,000
Status: ACTIVE
MLS#: 54271658
Price Change: ▼ $150,000 1771014784
Days on Market: 269
Year Built: 1950
Bathrooms: 7
Full-baths: 7
Living Area: 5,588
Lot Size: 15,479
Lot Size Source: Other
Subdivision: Galveston Townsite
Region: 33
Market Area: Downtown - Galveston/The Strand
County: Galveston

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Property Description

Offered below recent appraisal, this well-located 9-unit multifamily property presents an exceptional investment opportunity on Galveston Island. The property is 100% occupied and offers immediate upside through rent escalations and optimization. Unit mix includes seven individual, free-standing 2-bedroom/1-bath structures plus one elevated duplex. All 7 units are situated on one parcel, and the duplex is located on the adjoining parcel. Providing strong income potential and long-term stability, this complex is ideally positioned on the north side of the Island, just 2 blocks from the major thoroughfare of Broadway Avenue, and 3 blocks from Harborside Drive. The Port of Galveston and the Texas A&M - Galveston campus are also conveniently nearby. Ample off-street parking is a rare Island amenity that further enhances tenant appeal. Pro-forma cap rate reflects management and vacancy/loss assumptions. Estate sale and court approval required. Proof of funds required before initial showing.

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Additional Information

Taxes: $10,724
Neighborhood: Downtown - Galveston/The Strand
Heating: Other
Cooling: Other
Stories: 1
Roof: Composition
School District: Galveston
Elementary School: Gisd Open Enroll
Middle School: Gisd Open Enroll
High School: Ball High School