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4400 Avenue NGalveston, TX 77550
Park at Cedar Lawn
Asset ClassMultifamily
AVG SF: 993Occupancy: 97%Year Renovated: 2015Access Data Room
A 192-Unit Value Add Investment Opportunity
overview of deal

Overview

The Park at Cedar Lawn (Cedar Lawn) is a 192-unit apartment community in the heart of Galveston, Texas, within the historic Cedar Lawn neighborhood and directly across from Ball High Schoool. There are 144 garden apartments, 68 one bedroom units, 68 two, and an additional 8 two bedroom units with a third balcony. There are 48 historic units, each unique in their layout, ranging from a studio to a one, two, three, and up to four bedroom, three bathroom units. This blend of adaptive-reuse architecture and classic garden-style construction gives Cedar Lawn a rare combination of historic character and everyday functionality that is difficult to replicate in today's market.

Investment Highlights

  • History of strong occupancy of 95%+
  • Large average unit size of 1,004 SF
  • Close proximity to major employers
  • Less than 3 miles to UTMB and a preferred community for UTMB students (3,600) and employees (12,000)
  • Close proximity to major the retailers and grocers on the island
  • Property offers wide range of floorplans: Studios, 1,2,3 & 4 bedroom units
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4400 Avenue NGalveston, TX 77550
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