3417 Avenue O - Apartments FOR SALE


Galveston, TX 77550- Kempner Park
$1,000,000 USD
713-452-4260
3417 Avenue O, Galveston, TX for Sale
$1,000,000 USD
Apartments - FOR SALE
1/8
null | Request Cap Rate

3417 Avenue O
Galveston, TX 77550
Kempner Park


HIGHLIGHTS

  • Significant Value-Add Opportunity – 60% occupancy provides immediate upside through lease-up, rent optimization, and improved management.
  • Attractive Unit Mix – Combination of 1-bedroom and 2-bedroom units appeals to a broad tenant base, supporting long-term demand.
  • Section 8 Income Advantage – Ability to capitalize on higher, government-backed rents in Galveston, delivering consistent and predictable cash flow.

OVERVIEW

Marketing description Marcus & Millichap is proud to present 3417–3419 Avenue O, a 14-unit multifamily opportunity in Galveston, TX. The property consists of two buildings with a desirable unit mix of eight 1-bedroom and six 2-bedroom units, constructed with durable materials including brick and concrete exteriors for long-term resilience and reduced maintenance. Currently operating at approximately 60% occupancy, this asset presents a clear and compelling value-add opportunity for investors to increase cash flow and drive significant equity through lease-up and operational improvements. Priced to generate income from day one, the property also benefits from access to Galveston's strong Section 8 housing program, offering the potential for stable, above-market rental income.

FOR SALE DETAILS

PRICE

$1,000,000 USD

PRICE/SF

$77 USD /SF

# OF UNITS

14

PRICE/UNIT

$71,429

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.22 AC

LAND SF

9,601 SF

ZONING

IF4

APN/PARCEL ID

3510-0062-0003-000

ASK ABOUT THIS PROPERTY

Joshua KasaliMarcus & MillichapMore Info
713-452-4260

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Joshua KasaliMarcus & MillichapMore Info
713-452-4260

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.