Commercial Property for Sale in Texas 77550
1623 Ave N 1/2,, Galveston, Texas 77550
$599,000
$251 / sq ft 6.93% cap rate Listed Nov 22, 2024
2,383 sqft
Building
5,160 sqft
Lot
1920
Built
2
Stories
Class C
Class
About this property
Commercial Property for Sale in Texas 77550 is a multifamily for sale in Galveston, Texas, listed at $599,000. Key details: year built 1920, building size 2,383 sqft, lot size 5,160 sqft, stories 2. Listed by TIM LARSON of Keller Williams Memorial/KW Commercial on LoopingCloud and last updated December 17, 2025.
Exceptional Investment Opportunity – Just Blocks from the Beach! Discover this incredible 4-plex, a well-maintained and low-maintenance property with excellent cash flow potential in a prime beachside location. The property features a spacious 2 bed/1.5 bath upstairs unit (Vacant), a cozy 1 bed/1 bath garage apartment, and two efficiency (studio) units downstairs, offering a diverse rental mix to maximize your income. Recent upgrades include a new roof (2020), all siding replaced with Hardie plank, along with many interior unit upgrades. The vacant unit is ready for immediate showings by appointment, while the tenant-occupied units will be shown upon an accepted offer. This is a rare opportunity to invest in a highly desirable area, just a short stroll from the beach! Charming four-unit property situated in a vibrant neighborhood, just a short distance from the beach and local attractions. This residence features a cozy layout with inviting living spaces in each unit, ideal for both relaxation and entertaining. The property may boast unique architectural details characteristic of Galveston's historic homes, along with modern amenities for comfort. With its great potential as an income property, it offers an excellent opportunity for investors or those looking to generate rental income. Outdoor space often includes a lovely yard, perfect for enjoying the coastal breeze. Its proximity to shopping, dining, and recreational activities makes it an attractive option for both residents and visitors looking to experience the island lifestyle.
Lending Opportunities
| Company | Lender type | Contact | Phone | |
|---|---|---|---|---|
| TheLoanProsTeam | Mortgage Broker | Roxanne Chung | (754) 707-5877 | |
| Money Solutions, LLC | Mortgage Broker | Jennifer A. Judice | (813) 431-5000 |
Property details
Key facts
- Year Built
- 1920
- Building Size
- 2,383 sqft
- Lot Size
- 5,160 sqft
- Stories
- 2
- Building Class
- Class C
- Occupancy
- 75%
- Property Status
- Normal Sale
- Building Status
- Existing
Pricing details
- Financing
- Third Party Financing
- Investment Property
- Active investment property
Investment snapshot
6.93%
Cap rate
$41,538
Net operating income
$251
Price per sq ft
Actual - Cash Flow
Source: Yearly tax returns
Gross incomeNet operating income
| Year | Gross income | Effective gross | Expenses | NOI | Pre-tax cash flow | Cap rate |
|---|---|---|---|---|---|---|
| 2024 | - | - | - | $41,538 | - | - |
Acquisition options
| Option | Asking price | Cap rate | Commission | Monthly income | Ownership |
|---|---|---|---|---|---|
| Purchase Only | $599,000 | 5.93% | - | - | - |
Features and amenities
Highlights
- Exceptional Investment Opportunity – Just Blocks from the Beach!
- Incredible 4-plex, a well-maintained and low-maintenance property with excellent cash flow potential in a prime beachside location.
- Spacious 2 bed/1.5 bath upstairs unit (Vacant), a cozy 1 bed/1 bath garage apartment, and two efficiency (studio) units downstairs
- Diverse rental mix to maximize your income and in good overall condition.
- Recent upgrades include a new roof (2020), all siding replaced with Hardie plank, along with many interior unit upgrades.
- This is a rare opportunity to invest in a highly desirable area, just a short stroll from the beach!
Location
Address as shown by the lister.
Get directionsAbout this area - Galveston
- Population
- 30,146
- Housing units
- 14,628
- Land area
- 7.6 sq mi
- County
- Galveston
Documents, links and contacts
Frequently asked questions
What is the asking price of Commercial Property for Sale in Texas 77550?
Commercial Property for Sale in Texas 77550 is listed at $599,000. That works out to about $251 per square foot. The stated cap rate is 6.93%.
Where is Commercial Property for Sale in Texas 77550 located?
The property is in 1623 Ave N 1/2,, Galveston, Texas 77550, Galveston County.
What type of property is this?
This is a multifamily for sale in the commercial category.
How big is the property?
The building is 2,383 sqft. The lot is 5,160 sqft.
Is financing available?
The lister indicates: Third Party Financing.
Who do I contact about this listing?
TIM LARSON of Keller Williams Memorial/KW Commercial listed this property. Use the Request Info button to send a message or call (713) 461-9393.
When was this listing published?
It was published on November 22, 2024 and last updated on December 17, 2025.
Listing information
- Listing ID
- CL-Texas-12937
- Published
- Nov 22, 2024
- Last updated
- Dec 17, 2025
- Views
- 385
- Status
- Sold
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