928 Post Office St 16 Unit Apartment Building $2,200,000 ($137,500/Unit) 7.52% Cap Rate Galveston, TX 77550

Partners is pleased to present a rare opportunity to own a 16-unit multifamily property in Galveston abutting the prestigious University
of Texas Medical Branch (UTMB). The building shares a property line with a UTMB parking garage, is 1 block from main campus,
across the street from Shriner’s Hospitals for Children/Sealy Hospitals, and a stone’s throw from the Port of Galveston Cruise Terminal.
The 1971 build was partially renovated in 2022 under its current owner, in which 11 of the 16 units underwent a long list of cosmetic
renovations, in addition to some new central air systems and water heaters. There remains a large upside in lease-up of vacant units,
renovation of the last 5 untouched units, renting more of the reserved parking spaces, utilizing a RUBS or utility reimbursement program
for water & trash, re-utilizing the laundry room, and adding W/D connections to all units. The proximity to campus and other major jobs
centers provides a remarkable advantage to this property for nearly indefinite future housing needs for both students and staff.