1915 45TH STREET, GALVESTON, TX 77550
Homes for sale in Galveston.
Homes for sale in 77550.
1915 45th Street
Galveston, TX 77550
List Price$1,375,000
Listing #25533848
6
Bedrooms
5 full
Bathrooms
11,520
Square Feet
14
Number of Units
Multi-Unit Residential
Type
About This Property
Drive-by only. Exceptional opportunity to acquire a high-yield mixed-use investment property in Galveston, Texas. This diversified asset includes seven residential units, additional detached residential structures, rear storage income, and four commercial storefronts with a strong history of long-term tenancy. The property produces approximately $196,800 in projected annual gross income with a pro forma cap rate of about 10.8%. Even with conservative underwriting including vacancy and repair reserves, the asset performs near a 9% cap rate, making it attractive to both cash-flow investors and leveraged buyers. Multiple income streams provide strong stability, while value-add potential exists through rent optimization & continued property improvements. Several commercial tenants have been in place since 2010, reflecting strong location fundamentals and tenant retention. Rare opportunity to acquire a high-performing coastal Texas mixed-use asset with immediate income and long-term upside.
Property Features
Location Information
County
Galveston
Longitude
-94.814453
MLS Area
Midtown - Galveston
Subdivision
DENVER RESURVEY
Latitude
29.28495
Directions
Use your favorite GPS.
Interior Features
Total Number of Units
14
Exterior Features
Stories
2
Lot Size in Sq. Ft.
6,000
Is New Construction
No
Is One Story
No
Lot Size in Acres
0
School
School District
Galveston
Middle School
GISD OPEN ENROLL
Elementary School
GISD OPEN ENROLL
High School
BALL HIGH SCHOOL
Additional Information
Finance Available
Cash, Investor Financing
Year Built
1970
Property Type
RI
Status
Active
Property SubType
Multi Family
Similar Listings
Mortgage Calculator
$6,419
per month
30 Year Fixed. 3.52% Interest Rate.
Principal + Interest
$4,954
Monthly Tax
$1,145
Monthly Insurance
$320
yrs
%
$
$
Based on a fully amortized fixed rate loan. Ask your agent for the tax rates in your area. Insurance estimate is based on an average cost, your final premium cost will be determined by the type of coverage you select. This program only provides an estimate.
Schools
Walk Score
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