Downtown Lofts 715 28th St 8 Unit Apartment Building $1,290,000 ($161,250/Unit) 8.70% Cap Rate Galveston, TX 77550

715 28th Street Apartments is a newly constructed multifamily property offering a modern coastal living experience in the heart of Galveston. Designed with both lifestyle and durability in mind, this contemporary asset features open-concept floor plans with abundant natural light, expansive windows, and private balconies in every unit.
Each apartment is finished with sleek stainless-steel appliances, modern cabinetry, and clean, contemporary design elements that appeal to today’s renters. The building’s standout feature is a full-roof rooftop terrace spanning the entire roof surface, delivering unobstructed panoramic views of the harbor, cruise ships, and downtown Galveston—an exceptional amenity rarely found in the submarket.
Ideally located just steps from Church Street and the historic Strand District, residents enjoy walkable access to Galveston’s top restaurants, cafés, retail, and entertainment. The property is also conveniently positioned near the seawall, beach, cruise terminals, UTMB, and Texas A&M Galveston, making it highly attractive to students, professionals, and coastal lifestyle renters alike.
With its new construction, premium amenities, and irreplaceable location, 2805 Church Street Apartments represents a compelling opportunity for investors seeking a low-maintenance, high-appeal multifamily asset in one of Galveston’s most vibrant and supply-constrained neighborhoods.

New Construction / Low Maintenance AssetRecently completed construction significantly reduces near-term capital expenditure requirements and benefits from modern building systems, energy-efficient components, and contemporary layouts that command premium rents.
Irreplaceable Location Near the Strand & Cruise PortSituated steps from Church Street and the historic Strand District, the property benefits from strong walkability, high renter demand, and proximity to Galveston’s cruise terminals—one of the busiest cruise ports in the U.S.
Premium Lifestyle Amenities Drive Rent PremiumsFull-roof rooftop terrace with panoramic harbor, cruise ship, and downtown views, paired with private balconies in every unit—amenities that differentiate the asset and support above-market rental rates.
Strong and Diverse Tenant DemandClose proximity to major employment and demand drivers including UTMB, Texas A&M University–Galveston, Port of Galveston, healthcare, tourism, and maritime industries, providing a resilient and diversified renter base.
Limited New Multifamily Supply in Historic CoreZoning constraints, historic preservation rules, and limited available land significantly restrict new multifamily development in downtown Galveston, supporting long-term rent growth and asset appreciation.
Favorable Galveston Rental Market FundamentalsConsistent population inflows tied to education, healthcare, and tourism, combined with strong short- and long-term rental demand, create a stable rental environment with low vacancy pressure in well-located properties.
Coastal Market with Strong Tourism EconomyGalveston’s year-round tourism, cruise traffic, and event-driven demand provide additional rent stability and upside, particularly for well-amenitized, centrally located assets.
Attractive Long-Term Hold with Exit LiquidityInstitutional and private investors continue to target newer multifamily assets in coastal Texas markets, supporting liquidity and favorable exit scenarios for stabilized properties.