Multifamily Investment Property in Galveston, TX | 4-Unit Coastal Income Opportunity
Looking for a Multifamily Investment Property in Galveston, Texas?
If you’re searching for a cash-flowing multifamily property in Galveston, this 4-unit opportunity offers a rare combination of stabilized income, strong location, and major upgrades already completed.
Located in the East End of Galveston Island, this fully leased property is positioned to deliver immediate returns with long-term upside.
🏡 Property Overview: 1623 Avenue N 1/2, Galveston, TX
- Property Type: 4-Unit Multifamily (Multiple Detached Dwellings)
- Price: $575,000
- Square Footage: ~2,383 SF
- Year Built: 1960 (with extensive improvements)
- Occupancy: 100% leased
- Annual Rental Income: $62,700
This is a turnkey investment property with income already in place—no lease-up required. GET DIRECTIONS TO PROPERTY HERE
💰 Current Rental Income (Stabilized Cash Flow)
This Galveston multifamily property features a diverse unit mix that supports consistent rental income:
- Studio #1: $1,050/month
- Studio #2: $1,150/month
- 1 Bed / 1 Bath (Detached Garage Apartment): $1,350/month
- 2 Bed / 1.5 Bath: $1,675/month
👉 Total Monthly Income: $5,225
👉 Total Annual Income: $62,700
The property is fully occupied, providing immediate cash flow from day one.
📍 Prime Location on Galveston Island
One of the biggest advantages of this investment property is its location near major demand drivers in Galveston.
🏥 Close to Major Employers
These institutions create consistent rental demand from:
- Medical professionals
- Students and faculty
- Support staff
Jeff Shealey of HMA Mortgage can help you with this information. Complete this form, and he will reach out ASAP.
What would my payments be for this investment property, and what are the financing options?
🎡 Near Top Galveston Attractions
🚢 Benefit from Cruise Port Growth
- Port of Galveston continues expanding
The growing cruise industry brings:
- Increased tourism
- More service jobs
- Additional housing demand
🍽️ Walkable Dining & Lifestyle
- Sonny’s Place
- Shycatz
- Saltgrass Steak House
- Miller’s Seawall Grill
This level of accessibility enhances tenant appeal and retention.
🛠️ Major Property Improvements (Reduced CapEx)
This Galveston multifamily investment includes significant upgrades already completed, reducing future expenses.
Exterior & Structural
- Hardie plank siding
- Exterior repaint
- Fence replacement
- Electrical system updates
Systems & Mechanical
- HVAC system replaced
- Multiple A/C units replaced
- Water heater replaced
Interior Upgrades
- Updated appliances
- Plumbing fixture improvements
- Lighting and finish upgrades
Fully Renovated Unit
- New flooring, countertops, backsplash
- Updated kitchen and bathroom
- New HVAC system
👉 These improvements help minimize near-term maintenance costs and improve long-term performance.
🚨 Unique Advantage: Transferable Flood Insurance
This property includes:
- Two grandfathered flood insurance policies
- Coverage for both front and back dwellings
- Transferable to the new owner
👉 In a coastal market like Galveston, this can significantly reduce operating costs and risk.
📈 Why Investors Are Targeting Galveston Multifamily Properties
Galveston continues to attract investors due to:
- Strong tourism economy
- Expanding cruise port activity
- Major employers like UTMB
- Limited inventory of turnkey multifamily properties
👉 Properties that are fully occupied, upgraded, and well-located are in high demand.
📞 Schedule a Showing
If you’re searching for a multifamily investment property in Galveston, TX, this opportunity deserves a closer look.
Brian Becker
Absolute Realty
📱 415-250-4905
📧 briantbecker@gmail.com
📅 Showings by appointment only (24-hour notice required)
📄 Pre-approval required prior to showing
Brian Becker, REALTOR®
Listing representative for 1623 Avenue N 1/2, Galveston, Texas 77550.
Schedule a Showing with Brian Becker
⚠️ Disclosure
The owner of this property is a licensed REALTOR®. All information is deemed reliable but not guaranteed. Buyers should independently verify all details.
Compliance Notice
All information provided is deemed reliable but is not guaranteed and should be independently verified by the buyer. Details regarding square footage, lot size, room dimensions, school zoning, taxes, HOA fees, restrictions, and property condition should be confirmed through independent sources.
Information presented about this property is representative only as of the date of this post. Property status, pricing, availability, and other details are subject to change without notice. For the most current information, including status updates or price changes, please contact the listing agent directly.
Equal Housing Opportunity.