1 / 714-Unit Multifamily in Galveston, TX
Galveston County, TX · listed May 6, 2026 (175 days)
- $/unit
- $71,429
- ▼ 29% vs TX · 25th pct
- Cap rate
- 6.4%
- ▼ 0.9 pts vs TX median
- NOI
- $64K
- $4,575/unit/yr
- Units
- 14
- 2 bldg · 1966
Financials
- Asking price
- $1,000,000
- Price per unit
- $71,429
- Price per sq ft
- $77
- Gross rent / year
- Not stated
- Net operating income
- $64,046
- NOI per unit
- $4,575
- Cap rate
- 6.4%
- Gross yield
- Not stated
- Occupancy
- 60%
As stated by the seller. Verify during due diligence.
Building
- Units
- 14
- Unit mix
- eight 1-bedroom and six 2-bedroom units
- Buildings
- 2
- Year built
- 1966
- Building size
- 12,937 sq ft
- Avg unit size
- 924 sq ft
- Lot size
- 0.22 acres
- Condition
- Value-add
Deal terms
- Owner financing
- Available
Listing
- Listed
- May 6, 2026
- Days on market
- 175 days
- On MultifamilyRadar
- Oct 28, 2026
- Last price change
- Not stated
- Location
- Approximate (~0.5 mi)
- Listing #
- 1399
About this property
Marcus & Millichap is proud to present 3417–3419 Avenue O, a 14-unit multifamily opportunity in Galveston, TX. The property consists of two buildings with a desirable unit mix of eight 1-bedroom and six 2-bedroom units, constructed with durable materials including brick and concrete exteriors for long-term resilience and reduced maintenance. Currently operating at approximately 60% occupancy, this asset presents a clear and compelling value-add opportunity for investors to increase cash flow and drive significant equity through lease-up and operational improvements. Priced to generate income from day one, the property also benefits from access to Galveston's strong Section 8 housing program, offering the potential for stable, above-market rental income.
Multifamily | 6.40% CAP | 14 Units
Highlights
- Significant Value-Add Opportunity – 60% occupancy provides immediate upside through lease-up, rent optimization, and improved management.
- Attractive Unit Mix – Combination of 1-bedroom and 2-bedroom units appeals to a broad tenant base, supporting long-term demand.
- Section 8 Income Advantage – Ability to capitalize on higher, government-backed rents in Galveston, delivering consistent and predictable cash flow.
Location
Approximate area. The exact address is shared on request.
Similar buildings nearby
| Property | Price | $/unit$/unit vs median | Cap |
|---|---|---|---|
 Galveston, TXHigh yieldValue-add | $1M | $71K$71K | 10% |
 Galveston, TXValue-add | $1.4M | $200K$200K | — |
 Galveston, TXHigh yieldStabilized | $965K | $64K$64K | 12.5% |
 Galveston, TXStabilized | $750K | $83K$83K | — |
 Galveston, TX▼ 3% cutHigh yieldNew construction | $1.25M | $156K$156K | 9% |
 Galveston, TXStabilized | $900K | $129K$129K | — |