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$1,175,000

1502 39th Street, Galveston, TX, 77550

On MarketInfo
CommercialInfo
Beds7 Beds
Baths2 Bath
Baths13,000 Sq Ft
Multi FamilyMulti Family
price_per_sqft$90.38 / sqft
Year BuiltBuilt in 1924

Highlights

Interior

Bedrooms 7Bedrooms 7
Bathrooms Full 2Bathrooms Full 2
Heating Floor/WallHeating Floor/Wall
CoolingCooling
AppliancesRange, Dishwasher, Refrigerator
FlooringWood, Hardwood

Exterior

Lot Size7,741 sqft

Building Information

Year Built1961
Stories2
Roof Type172

Land Information

APN3510-0035-0001-000
Lot Number1
SubdivisionGalveston Outlots
Land UseCommercial
Legal DescriptionABST 628 M B MENARD SUR LOT 1 & W 1/2 OF LOT 2 NW BLK 35 GALVESTON OUTLOTS
Census Tract725100
Assessed Land Value$137,620
Assessed Improvement Value$723,380
Assessment Year2025

About this property

Large two story prominent corner historic brick building, circa 1924, with 9 first floor rental areas: 7 facing 39th Street and two facing Avenue N. The upstairs has two large condo-type areas with one having 7 bedrooms surrounding two common areas, a kitchen and 1 1/2 baths and the other having 4 bedrooms and a kitchen and bath. A large private roof patio area, with covered bar area, separates the two upstairs living areas. Hot tub area, with patio and private staircase downstairs. The property is among the many up and coming 39th Street establishments.

Investor Tools

$574,510Estimated Mortgage Balance
$286,490Estimated Equity
33% equity
Estimated Cap Rate
View Rate
Estimated ARV (After-Repair Value)
Calculate ARV
Rent-to-Value Ratio: 0.72%
Rent Estimate
$7,050 /month
Positive
Cash Flow Estimate:
$2,350 /month

Interested in this property?

David Bowers

Better Homes and Gardens Real Estate Gary Greene - Galveston

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Financing Details

Estimated Taxes & Insurance
HOA Fees
Interest Rate Assumption
$1,457/month
No HOA
5.947%

Tax Information

Annual Taxes
Assessed Value
Assessment Year
Assessed Land
Assessed Improvement
Market Value
Tax Delinquent
$13,181
$861,000
2025
$137,620
$723,380
$861,000
No

Tax History

Year
Tax Paid
Assessed Value
2024
$13,181
$861,000

Mortgage Details

Lender
Loan Type
Loan Amount
Assumable
Position
Origination Date
Maturity Date
Hometown Bank Na
Purchase Money Mortgage
$618,750
No
First
Aug 8, 2022
N/A

Equity Summary

Est. Mortgage Balance
Est. Equity
Equity %
LTV
Est. Monthly Payment
$574,510
$286,490
33%
67%
$3,710/mo

City: Galveston

1502 39th Street | Property Details | No Agent List