Value-Add Apts near I-45 and Moody Gardens 2311 71st St 36 Lots d’appartement Immeuble residentiel Vente aux enchères en ligne Galveston, TX 77551

Global Real Estate Advisors invites qualified investors to participate in a compelling opportunity to acquire the 71st Street Apartments, a 36-unit multifamily property located in the heart of Galveston, Texas, at 2311 71st Street. Currently 94% occupied with below-market rents, the property offers both stable in-place income and significant upside through value-add improvements. With strategic renovations, investors can capture rent growth as units naturally turn over, positioning the asset for long-term appreciation and increased cash flow.

Built in 1971 on a 0.98-acre site, the 71st Street Apartments complex encompasses 35,042 square feet across two floors. The property features a well-balanced unit mix, including studios and one-, two-, and three-bedroom layouts, all with full kitchens, spacious living and dining areas, and large bedroom closets. Residents enjoy access to a professionally landscaped central courtyard, an outdoor pool, and convenient on-site parking for up to 40 vehicles. The complex’s exterior-corridor design and efficient floor plans enhance operational flexibility and tenant appeal.

Strategically located on Galveston’s West Side, the property is less than five minutes from Interstate 45, offering quick access to major employers, including UTMB Health Galveston, Texas A&M University at Galveston, and American National Insurance. Residents also benefit from proximity to Moody Gardens, one of the region’s top employers and a premier tourist destination featuring an aquarium, museums, water parks, Galveston’s only golf course, and more. Additionally, a $250 million Margaritaville Resort is in the planning stages and expected to become one of the largest developments in the area, bringing hundreds of full-time jobs and further fueling housing demand. Everyday retail conveniences such as Walmart Supercenter, Kroger, Starbucks, and Whataburger are just minutes away, while Galveston Beach and the Galveston Fishing Pier offer lifestyle appeal that continues to attract renters.

The South Galveston County multifamily submarket offers a strong foundation for future investment. While over 950 units have been delivered since 2022 to meet growing demand, recent quarters have seen a notable slowdown in construction starts due to elevated borrowing and development costs. This slowdown in new supply positions well-located assets, such as the 71st Street Apartments property, for continued rent growth and strong occupancy. Asking rents in the submarket have grown 2% year over year, following a 4.1% annual average increase between 2015 and 2019. Within a 10-mile radius of the property, the population has grown by 13.5% since 2020. With more than 88,000 residents in the area and over 58% currently renting their homes, Galveston offers a deep and growing tenant base for local rental properties.

Beyond its tourism appeal, Galveston is evolving into a broader economic hub. This combination of limited new supply, steady rent growth, and growing population and job counts positions the 71st Street Apartments complex as a high-potential investment in a thriving Gulf Coast market.

Property tours are available by appointment only. Please contact the broker to schedule.