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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
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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:
Karl
Landreneau,
CCIM, SIOR
Director of Commercial Sales and Leasing
(225) 295-0800
(225) 252-3733
Click here to emailListed by:
Keller Williams Clear Lake/NASA
Houston Clear Lake
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Mortgage Calculator
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