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1811 21st St 8 Unit Apartment Building $1,661,145 CAD ($207,643 CAD/Unit) 8.67% Cap Rate Galveston, TX 77550



INVESTMENT HIGHLIGHTS
- 1 block away from beach
- 2024 fully rehabbed
- fully leased
- close to local Campus and Hospital
- new appliances
EXECUTIVE SUMMARY
This boutique 8-unit building combines modern style with practical design, offering a coastal living experience that feels both refined and comfortable. Each apartment features sleek stainless steel appliances, granite countertops, and thoughtfully designed layouts that maximize natural light. Large windows create bright, airy interiors that feel spacious yet cozy, while open floorplans make everyday living and entertaining effortless. With a focus on both style and function, these homes are designed to meet the needs of students, professionals, and anyone seeking modern comfort in Galveston.
Ideally located near Galveston’s most iconic destinations, this property puts you right where you want to be. UTMB is just minutes away, while the historic Hotel Galvez and the lively Pleasure Pier are within walking distance, offering entertainment, dining, and relaxation at your doorstep. Residents can also enjoy easy access to the Strand’s shops, restaurants, and cafes, along with the scenic seawall and beach just blocks away. Blending convenience, charm, and location, this 8-unit community offers the perfect mix of modern living and island lifestyle.
Ideally located near Galveston’s most iconic destinations, this property puts you right where you want to be. UTMB is just minutes away, while the historic Hotel Galvez and the lively Pleasure Pier are within walking distance, offering entertainment, dining, and relaxation at your doorstep. Residents can also enjoy easy access to the Strand’s shops, restaurants, and cafes, along with the scenic seawall and beach just blocks away. Blending convenience, charm, and location, this 8-unit community offers the perfect mix of modern living and island lifestyle.
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 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 |
-
|
-
|
| 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 (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 | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| 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 | $1,661,145 CAD | Building Class | B |
| Price Per Unit | $207,643 CAD | Lot Size | 0.10 AC |
| Sale Type | Investment | Building Size | 4,715 SF |
| Cap Rate | 8.67% | No. Stories | 2 |
| No. Units | 8 | Year Built | 1965 |
| Property Type | Multifamily | Parking Ratio | 0.85/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | UN - Urban Neighborhood, Planned Unit Development | ||
| Price | $1,661,145 CAD |
| Price Per Unit | $207,643 CAD |
| Sale Type | Investment |
| Cap Rate | 8.67% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.10 AC |
| Building Size | 4,715 SF |
| No. Stories | 2 |
| Year Built | 1965 |
| Parking Ratio | 0.85/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | UN - Urban Neighborhood, Planned Unit Development |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Microwave
- Washer/Dryer
- Heating
- Kitchen
- Refrigerator
- Stainless Steel Appliances
- Views
- Yard
- Deck
- Freezer
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | - |
| 1+1 | 4 | - | - |
Walk Score®
Very Walkable (84)
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Presented by
Tohme Capital LLC
1811 21st St
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