7 Plex in Galveston

[Damion York]

This 7-Plex is in a residential area 2 blocks away from the Seawall and 1/2 mile from Pleasure Pier. 

Galveston, TX 

Pro Forma Monthly $ 4,825 

Annual $ 57,900 

Current Actual Rents $ 3,500 

Annualized $ 42,000

Expenses Casualty Insurance $ (2,440) 

Windstorm Insurance $ (3,600)

Taxes $ (5,220) 

Scheduled Maintanence $ (3,000)

Total Operating Expenses $ (14,260) 

Pro Forma NOI $ 43,640

Pro Forma Price $ 270,000 

Cap Rate 16.78% 

Gross Rent Multiplier 4.30

Hit me