For Sale I Multifamily Investment Opportunity

Driftwood Apartments (Driftwood) is a 238-unit garden-style apartment community built in 1982 and partially renovated in 2010. Situated on 18.5 acres in Galveston, a coastal city on the Gulf Coast of Texas. The two and three-story residential community is located one block from Galveston’s seawall and less than two miles south of Interstate 45. Galveston is approximately 30 miles from the city limits of Houston, Texas the 4th largest city in the U.S. It is home to 32 miles of beaches, top restaurants, hotels & resorts, and attractions like Moody Gardens, Schlitterbahn, and the National Historic Strand District. The property is also conveniently located just southwest of Galveston Bay and just two miles from Pleasure Pier, an old-fashioned waterfront amusement area with rides for all ages, games of skill & boardwalk eats. The Galveston cruise ship terminal is the home port to several major cruise lines including Carnival, Royal Caribbean, Norwegian, and Disney. 

Driftwood offers beach-style living featuring ocean views with modern features in each of its sizeable one and two-bedroom apartment floor plans. This community allows its residents to feel right at home with its attractive amenities that include a fitness center, dog park, gated front entry, resort-style pool, and walk-in closets. The location of Driftwood is second to none. The property is scenically located off the Galveston Seawall, which gives quick access to a multitude of dynamic employers. The Strong value-add potential through interior renovations provides investors with upside potential and long-term value appreciation, making Driftwood a valued investment opportunity.