23-Unit Multifamily in Galveston, TX

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Waldorf Apartments at (address on request), Galveston, TX 77550 presents a compelling multifamily opportunity in one of the Texas Gulf Coast’s most dynamic residential and tourism-driven markets. Positioned less than 1/4 mile from the Gulf Coast, Seawall, beaches, and Pleasure Pier, the property offers exceptional access to Galveston’s premier lifestyle amenities, dining, entertainment, and waterfront attractions. Situated on approximately 0.41 acres and encompassing about 16,398 square feet, this MF1-zoned residential asset benefits from a highly desirable in-town location near Historic Downtown Galveston and The Strand. The surrounding market is supported by a diverse economic base anchored by UTMB Health, Texas A&M University at Galveston, the Port of Galveston, and the island’s powerful tourism sector, which draws more than 7 million annual visitors. With convenient connectivity to I-45 and roughly 50 miles to Downtown Houston, the property combines island living with regional accessibility. Waldorf Apartments offers investors the chance to acquire a well-located Galveston asset surrounded by strong employment drivers, steady household growth, and enduring coastal appeal!

(address on request), Galveston, TX 77550

MF1 Zoning | 16,398 SF Building

• VALUE-ADD MULTIFAMILY OPPORTUNITY – Currently 79.5% occupied with approximately $170,084 place NOI and projected stabilized NOI of $291,659. • PRIME GALVESTON ISLAND LOCATION – Strategically located near Galveston’s major tourism, employment, education, retail and entertainment destinations. • STEPS FROM THE GULF & PLEASURE PIER – Located immediately north of the Gulf Coast, Galveston Seawall and Historic Pleasure Pier, with convenient access to beaches, dining and entertainment. • STRONG TOURISM CORRIDOR – Surrounded by hotels, restaurants, bars, beaches and attractions. Galveston attracts approximately 8.9 million annual visitors and offers more than 6,000 hotel rooms. • SIGNIFICANTLY BELOW MARKET RENTS providing substantial upside through lease-– Current rents are approximately 20% below market, up and rent increases as existing leases expire. • MAJOR HEALTHCARE & EDUCATION EMPLOYERS – Conveniently located near UTMB Health, Galveston College and other major healthcare and educational institutions.