6205 Jackson Rd., Hitchcock, Texas 77563

Back to Listings

6205 Jackson Rd.

Hitchcock , Texas 77563

Listing Type:: For Sale

Listing Price:: $2,975,000.00

Property Type:: Multi-Family

Property Subtype:: Low-Rise/Garden

Year Built:: 1975

Listing Status:: Active

Building Size:: 19608 SqFt

Land Area:: 1.29 Acres

Photos
Map View
Video

Description:

29 unit multifamily apartment complex located just outside of Galveston. Premium location. 6.16% Cap Rate! The subject property is just a 23 minute drive from the Seawall. Rent could be raised quite a bit to reach market competition. Positive reviews of the apartments from tenants online. The manager has expressed interest in staying onsite for new ownership.
Value Add: There is enough room to add an additional 6 units to the property. All of the Central air and heat systems have been replaced with high-efficiency units. Most of the interior units have been completely re-positioned with premium finishes including stainless appliances and new fixtures. Owner is adding a coin serviced laundromat on the property.
6.16% Cap Rate
29 Units
7.5 miles to Texas City's oil/gas district
16 miles to Downtown Galveston
Average Occupancy 100%

Presented by: