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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
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 -
Walk Score ®
Very Walkable (81)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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)
  • Listing ID: 32753365

  • Date on Market: 2024-08-09

  • Last Updated:

  • Address: 2018 25th St, Galveston, TX 77550

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