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3028 Ave M Avenue

Galveston, TX 77550
  • $529,900
  • STATUS: Active
  • MLS #: 29813472
Price Reduced
$529,900
  • 3
    BEDS
  • 0.04
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 3,233
    SQFT
  • $164
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1964
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

EASY TO SHOW FOURPLEX. FULLY RENOVATED 6 TO 8 YEARS AGO. NEW KITCHENS - GRANITE AND APPLIANCES. NEW BATHS. NEW A/C UNITS. TILE FLOORSLOCATED IN DESIRABLE EAST-END CLOSE TO UTMB, GALVESTON COLLEGE, TEXAS A & M, BEACHES, DOWNTOWN AND THE PORT OF GALVESTON EMPLOYERS.AMAZING UPSIDE: CONTAINS ONE-3 BEDROOM/2 BATH PLUS THREE-2 BEDROOM/2 BATH. ONE 2/2 VACANT. LEASES EITHER CONVENTIONAL OR SECTION 8. NEW HOUSING AUTHORITY SCHEDULE FOR MAX RENTS: 2-BEDROOM UNITS $1449 MAX RENTS AND 3-BEDROOM MAX IS $1923. OUTSTANDING MAXIMUM PROFORMA RENTAL AMOUNT PROJECTION IS $75,240/YEAR. THE ACTUAL CURRENT RENTS FOR 3 UNITS PLUS 1 UNIT TO BE LEASED IS $4190.THIS WILL BE ONE OF THE GREATEST EARNING RENTAL PROPERTY IN THE MARKET WHEN FULL RENT PROJECTIONS ARE MET. THE MARKET IS EXTREMELY TIGHT FOR TWO AND THREE BEDROOM SECTION 8 OR CONVENTIONAL RENTALS. AN AGGRESSIVE RENTAL PROGRAM WILL GENERATE A HIGHER RETURN ON iNVESTMENT THAN OTHER SIMILAR AVAILABLE INVESTMENTS.

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© 2022 Houston Realtors Information Service, Inc. All rights reserved. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2022-12-02T00:13:41.517.
www.hargroverealtygroup.com/homes/133469907
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3028 Ave M Avenue Galveston, TX 77550

  • Price: $529,900
  • Status: Active
  • On Site: Days
  • MLS #: 29813472
3
Beds
2
Baths
0
½ Baths
0.04
Acres
3,233
SQFT
$164
$/SQFT
1964
Built
Neighborhood:
Galveston Townsite
County:
Galveston
Area:
33 - Galveston County
Elementary School:
Gisd Open Enroll
Middle School:
Gisd Open Enroll
High School:
Ball High School
School District:
Galveston
Property Description
EASY TO SHOW FOURPLEX. FULLY RENOVATED 6 TO 8 YEARS AGO. NEW KITCHENS - GRANITE AND APPLIANCES. NEW BATHS. NEW A/C UNITS. TILE FLOORSLOCATED IN DESIRABLE EAST-END CLOSE TO UTMB, GALVESTON COLLEGE, TEXAS A & M, BEACHES, DOWNTOWN AND THE PORT OF GALVESTON EMPLOYERS.AMAZING UPSIDE: CONTAINS ONE-3 BEDROOM/2 BATH PLUS THREE-2 BEDROOM/2 BATH. ONE 2/2 VACANT. LEASES EITHER CONVENTIONAL OR SECTION 8. NEW HOUSING AUTHORITY SCHEDULE FOR MAX RENTS: 2-BEDROOM UNITS $1449 MAX RENTS AND 3-BEDROOM MAX IS $1923. OUTSTANDING MAXIMUM PROFORMA RENTAL AMOUNT PROJECTION IS $75,240/YEAR. THE ACTUAL CURRENT RENTS FOR 3 UNITS PLUS 1 UNIT TO BE LEASED IS $4190.THIS WILL BE ONE OF THE GREATEST EARNING RENTAL PROPERTY IN THE MARKET WHEN FULL RENT PROJECTIONS ARE MET. THE MARKET IS EXTREMELY TIGHT FOR TWO AND THREE BEDROOM SECTION 8 OR CONVENTIONAL RENTALS. AN AGGRESSIVE RENTAL PROGRAM WILL GENERATE A HIGHER RETURN ON iNVESTMENT THAN OTHER SIMILAR AVAILABLE INVESTMENTS.
Exterior Features

Front Door Faces South Lot Description Corner Roof Built Up Siding Wood

Interior Features

Compactor No Cool System Window Units Countertops Granite Dishwasher Yes Disposal No Floors Tile Heat System Window Unit Microwave No Range Yes Refrigerator Yes

Property Features

Contract Type 1 - 4 Family Residential Country United States Disclosures No Disclosures Energy Ceiling FansInsulated/Low-E Windows Expense Owner Operating InsuranceMaintenance/RepairManagement Fee Other No Lot Size Source Appraisal District Lot Value No Maintenance Fee Yes No No Management Co YN No Management Company None New Construction No Property Sub Type Fourplex Restrictions None Sq Ft Source Appraisal District Utilities CableElectricWater Utility District 0 Year Built Src Appraisal District

Listing information © 2022 Houston Association of REALTORS® MLS.
Listing courtesy of Joe Tramonte Realty, Inc.: [IDXCONTACTINFORMATION].



© 2022 Houston Realtors Information Service, Inc. All rights reserved. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 2022-12-02T00:13:41.517.
 
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