6-Unit Multifamily in Galveston, TX

609 Sealy Apartments – Prime Investment Opportunity

609 Sealy offers a rare investment opportunity in Galveston with two detached 2-bedroom, 1-bath homes plus a separate building with four apartments. The crown jewel is the top-floor 2-bedroom, 2-bath unit featuring luxury finishes and a private rooftop terrace with breathtaking ocean views.

All apartments include modern finishes and in-unit washers and dryers, making them highly attractive to renters.

Located outside the flood zone and just minutes from UTMB, the beach, and downtown, this property combines strong rental potential with long-term value. Its prime location and unique mix of units make 609 Sealy an exceptional opportunity for both cash flow and appreciation.

Prime ocation - Multifamily | 7.76% CAP | 6 Units - No Flood zone, fully leases

Tourism growth:

Galveston has experienced significant growth in its tourism

sector over the past decade, solidifying its status as a premier

destination on the Gulf Coast. Visitor numbers have risen from

approximately 4.5 million in 2009 to over 8.1 million in 2022,

marking an increase of more than 80%. This surge in tourism

has led to a substantial economic impact, with visitor spending

reaching $1.2 billion in 2022, a 27% increase from the previous

year.

UTMB growth:

Over the past decade, the University of Texas Medical Branch

(UTMB) has experienced significant growth across various facets

of its operations. UTMB has been in Galveston over 100 years

and is one of the oldest medical school and hospital systems in

Texas. In terms of student enrollment, UTMB's fall semester

began with 3,200 students and nearly 900 faculty members,

marking a 42% increase in enrollment since 2006. Financially,

UTMB's endowment has also seen substantial growth.

Appreciation:

Over the past decade, Galveston has experienced significant

growth in real estate values. Home appreciation rates have been

among the highest in the nation, with properties appreciating by

approximately 131.93%, averaging an annual increase of 8.78%.

This robust appreciation places Galveston in the top 20% of

U.S. cities for real estate value growth, highlighting its strong

investment potential.

Resilient Market:

The healthcare sector is typically less affected by economic

downturns, providing a stable source of rental income even

during uncertain times. This, combined with the property’s prime

location and unique features, enhances its investment appeal.

Low Vacancy Rates:

With a target demographic that values quality housing and

convenience, the property is likely to experience low vacancy

rates. This minimizes the risk of income loss associated with

prolonged vacancies.

Galveston Growth:

Port of Galveston Expansion: Construction has commenced on

the port's fourth cruise terminal, a $151 million project at Pier 16,

featuring a 165,000-square-foot terminal and a $55 million

parking garage, slated to open in November 2025.

West Galveston Mixed-Use Development: A $250 million mixed-

use project is planned for the western end of the Seawall, aiming

to enhance residential, commercial, and recreational spaces,

further boosting the local economy.

Margaritaville: The $250 million Galveston development will span

300,000 square feet and bring hundreds of jobs to the island.