Galveston 10-Plex $850k

1927 Avenue M, Galveston

ROI

17.43% IRR

Strategy

Long Term Rental

100% occupied 10-plex in Galveston, an excellent DSCR acquisition with as-is numbers at a 1.22% debt coverage ratio. Current monthly rent roll totals $11,160. P&L and rent roll available. Each unit is a large 3-bedroom, which is rare for mid-sized multifamily properties. This is a very stable, long-term buy-and-hold asset that will cash flow nicely. Many cosmetic and capital upgrades were completed in 2024. On the market for 2 months; I suggest a starting offer of $800k. Taxes $17,263.

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Galveston 10-Plex $850k

Listed 01/27/2025

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1927 Avenue M, Galveston

Purchase Price:$850,000

Cash Outlay:$229,500

Cashflow:$970/mo

Cap Rate:7.36%

IRR:17.43%

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