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1322 Avenue L - Gulf Breeze Apartments 7 Unit Apartment Building Offered at $1,079,000 at a 7.70% Cap Rate Galveston, TX 77550
Executive Summary
Charming 7-Unit Apartment Building in Prime Galveston Location
Nestled on a quiet residential street, this 7-unit apartment building presents a rare opportunity in one of Galveston’s most desirable areas. Each unit features a thoughtfully designed layout, with several offering private porches or decks that blend coastal charm with modern comfort.
Residents enjoy off-street, assigned parking in the rear, a highly sought-after amenity that adds convenience and value in this central location.
The building’s mix of floor plans appeals to a diverse range of tenants—from students and medical professionals to those seeking a serene island retreat. With UTMB, the beach, and downtown Galveston all within walking distance, this property delivers the ideal combination of accessibility, rental stability, and long-term investment potential.
Nestled on a quiet residential street, this 7-unit apartment building presents a rare opportunity in one of Galveston’s most desirable areas. Each unit features a thoughtfully designed layout, with several offering private porches or decks that blend coastal charm with modern comfort.
Residents enjoy off-street, assigned parking in the rear, a highly sought-after amenity that adds convenience and value in this central location.
The building’s mix of floor plans appeals to a diverse range of tenants—from students and medical professionals to those seeking a serene island retreat. With UTMB, the beach, and downtown Galveston all within walking distance, this property delivers the ideal combination of accessibility, rental stability, and long-term investment potential.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,079,000 | Property Type | Multifamily |
| Price Per Unit | $154,143 | Building Size | 3,780 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 7.70% | No. Stories | 2 |
| No. Units | 7 | Year Built/Renovated | 1955/2024 |
| Price | $1,079,000 |
| Price Per Unit | $154,143 |
| Sale Type | Investment |
| Cap Rate | 7.70% |
| No. Units | 7 |
| Property Type | Multifamily |
| Building Size | 3,780 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1955/2024 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Refrigerator
- Range
- Porch
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 5 | - | - |
| 2+1 | 1 | - | - |
| 3+1 | 1 | - | - |
1 1
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (74)
Property Taxes
| Parcel Number | 3505-0073-0013-000 | Improvements Assessment | $267,650 (2025) |
| Land Assessment | $164,350 (2025) | Total Assessment | $432,000 (2025) |
Property Taxes
Parcel Number
3505-0073-0013-000
Land Assessment
$164,350 (2025)
Improvements Assessment
$267,650 (2025)
Total Assessment
$432,000 (2025)
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Videos
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Photos
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Street
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Presented by
Tohme Capital LLC
1322 Avenue L - Gulf Breeze Apartments
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