Waldorf | 2018 25th St
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Waldorf 2018 25th St
23 Unit Apartment Building $3,768,300 CAD ($163,839 CAD/Unit) 8.60% Cap Rate Galveston, TX 77550
Investment Highlights
- Steps to the beach
- Large courtyard area
- Lots of windows per unit
Executive Summary
Prime location, best location on island for this type of property. Steps to beach and Texas famous pleasure Pier amusement park, walk to restaurants, bars, Mardi Gras parade goes right by building, on bus route and trolley car route, walk to strand and cruise terminal(Galveston is 3rd largest cruise terminal in the country). Quality old school construction, many of windows replaced with hurricane windows, most units have wood floors, tile in kitchen and baths. A lot of units have front and back doors, some units have windows on all 4 sides. 3 buildings, 12 units in one, 9 units in 2nd building, 2 units plus garage, work shop, laundry facilities, 2 storage units in 3rd building. On 3 1/2 lots, 18,155 sq.ft. An unusually large number of windows for older building, 8 windows in 4 of the studios, 11 windows in 4 of the 1br units so units are very light inside. This really is a great location and great opportunity to own in a growing tourist area. Broker/owner. 3 of the studios could easily and cheaply be converted to a 1 br units for more rent already did one. Two larger buildings are on raised foundation with crawl space.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $99,999 | $9.99 |
Taxes | $99,999 | $9.99 |
Operating Expenses | $99,999 | $9.99 |
Total Expenses | $99,999 | $9.99 |
Net Operating Income | $99,999 | $9.99 |
Financial Summary (Pro forma - 2024) Click Here to Access
Gross Rental Income (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Other Income (CAD) | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss (CAD) | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Taxes (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Operating Expenses (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Total Expenses (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Net Operating Income (CAD) | |
---|---|
Annual | $99,999 |
Annual Per SF | $9.99 |
Property Facts
Price | $3,768,300 CAD | Apartment Style | Garden |
Price Per Unit | $163,839 CAD | Building Class | C |
Sale Type | Investment | Lot Size | 0.41 AC |
Cap Rate | 8.60% | Building Size | 16,398 SF |
Sale Conditions | 1031 Exchange | Average Occupancy | 80% |
No. Units | 23 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1935 |
Property Subtype | Apartment | Opportunity Zone |
Yes
|
Price | $3,768,300 CAD |
Price Per Unit | $163,839 CAD |
Sale Type | Investment |
Cap Rate | 8.60% |
Sale Conditions | 1031 Exchange |
No. Units | 23 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Building Class | C |
Lot Size | 0.41 AC |
Building Size | 16,398 SF |
Average Occupancy | 80% |
No. Stories | 2 |
Year Built | 1935 |
Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Hardwood Floors
- Refrigerator
- Range
- Yard
- Attic
- Deck
- Linen Closet
- Workshop
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
3+1 | 1 | $2,275 CAD | - |
2+1 | 2 | $1,991 CAD | - |
1+1 | 11 | $1,564 CAD | - |
Studios | 9 | $1,280 CAD | - |
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Walk Score ®
Very Walkable (81)
PROPERTY TAXES
Parcel Number | 3510-0092-2012-000 | Total Assessment | $2,097,450 CAD (2023) |
Land Assessment | $313,551 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
Improvements Assessment | $1,783,899 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
3510-0092-2012-000
Land Assessment
$313,551 CAD (2023)
Improvements Assessment
$1,783,899 CAD (2023)
Total Assessment
$2,097,450 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
zoning
Zoning Code | MF1 (multi family) |
MF1 (multi family) |
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Waldorf | 2018 25th St
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