1 / 310-Unit Multifamily in Galveston, TX
Galveston County, TX · listed Jun 5, 2026 (145 days)
- $/unit
- $230,000
- ▲ 130% vs TX · 89th pct
- Cap rate
- 6%
- ▼ 1.3 pts vs TX median
- NOI
- $139K
- $13,866/unit/yr
- Units
- 10
- 3 bldg · 1969
Financials
- Asking price
- $2,300,000
- Price per unit
- $230,000
- Price per sq ft
- $240
- Gross rent / year
- $182,100
- Net operating income
- $138,662
- NOI per unit
- $13,866
- Cap rate
- 6%
- Gross yield
- 7.9%gross rent ÷ price
- Occupancy
- 100%
As stated by the seller. Verify during due diligence.
Building
- Units
- 10
- Unit mix
- ten 2-bedroom, 1.5-bath townhome-style units
- Buildings
- 3
- Year built
- 1969
- Building size
- 9,600 sq ft
- Avg unit size
- 960 sq ft
- Lot size
- Not stated
- Condition
- Value-add
Deal terms
- Owner financing
- Not stated
Listing
- Listed
- Jun 5, 2026
- Days on market
- 145 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1445
About this property
Positioned in the heart of Galveston's highly sought-after East End, (address on request)reet presents a rare opportunity to acquire a fully occupied 10-unit townhome community with immediate cash flow and substantial upside potential. Located just blocks from UTMB, one of the island's largest employers, the property benefits from consistent demand from medical professionals, residents, students, nurses, and other working professionals seeking housing near campus and downtown Galveston.
The gated community consists of ten 2-bedroom, 1.5-bath townhome-style units offering approximately 9,600 square feet of improvements on a 10,193 square foot corner lot. Residents enjoy private entrances, functional floor plans, community laundry facilities, landscaped common areas, and 9 covered parking spaces, amenities that support tenant retention and long-term occupancy.
Recent capital improvements include six HVAC replacements, a new water heater installed in 2026, updated kitchens, countertops, flooring, and renovations completed in five units. The remaining five units provide a clear value-add opportunity through continued interior upgrades and the potential addition of in-unit laundry connections.
Currently generating approximately $182,100 in annual gross income with a reported NOI of approximately $138,662, the property offers a current cap rate of approximately 6.03%. Ownership projects the opportunity to increase annual income to approximately $216,000 and NOI to approximately $172,562 through strategic improvements and rental growth.
Combining stable in-place income, a premier location near UTMB, recent capital improvements, and a proven path to increased revenue, (address on request)reet offers investors a compelling multifamily opportunity in one of Galveston's strongest rental corridors.
100% Occupied | 10 Units | 9,600 SF | Blocks from UTMB
Highlights
- 100% Occupied 10-Unit Townhome Community providing immediate, stable cash flow
- Blocks from UTMB, one of Galveston's largest employment hubs, supporting strong and consistent rental demand
- Current NOI of Approximately $138,662 with a 6.03% Cap Rate
- Significant Value-Add Opportunity with 5 renovated units completed and 5 remaining units available for future upgrades and rent growth
- Projected NOI of Approximately $172,562 with a projected value approaching $2.9M at a 6% cap rate
- Gated Community with 9 Covered Parking Spaces, a highly desirable amenity that enhances tenant retention and marketability
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Galveston, TXHigh yield | $949K | $136K$136K | 8.8% |
 Galveston, TXHigh yieldNew construction | $1.3M | $162K$162K | 9.7% |
 Galveston, TXHigh yieldStabilized | $1.04M | $173K$173K | 8.5% |
 Galveston, TXStabilized | $2.95M | $369K$369K | — |
 Galveston, TXStabilized | $1.75M | $292K$292K | — |
 Galveston, TXHigh yieldStabilized | $1.15M | $144K$144K | 9.3% |