REO Sale – Gulfwind Apartments | 66 Units | Houston MSA

Highlights:

• 66 Units Across Three Two-Story Buildings: A value-add multifamily opportunity in Galveston, Texas, ready for full repositioning.
• Lease-Up Upside at 7.58% Occupancy Today: Current occupancy of 7.58% creates a clear path to increase revenue through stabilization.
• Large Average Unit Size of About 907 SF: Spacious floor plans stand out among comparable value-add multifamily assets in the market.
• Diverse Mix of 66 One-, Two-, Three-Beds: Unit mix includes twenty-five 1-beds, twenty-eight 2-beds, and thirteen 3-bed units total.
• Elevated Coastal Design Cuts Flood Risk: Units sit raised above grade with under-building parking, reducing storm-surge exposure.
• Diverse Demand Drivers Fuel Galveston Economy: Tourism, healthcare, education, port, and maritime industries anchor the local economy.

Description:

View details & Diligence on RI Marketplace: https://rimarketplace.com/auction/3320/multifamily/galveston/tx?utm_source=brevitas&utm_medium=listing_paid&utm_campaign=august19_2026&utm_content=multifamily_3320

RealINSIGHT Marketplace, in partnership with Marcus & Millichap, is pleased to present Gulfwind Apartments, a 66-unit value-add multifamily community at 8020 Stewart Road in Galveston, Texas. Built in 1969, the Property spans three two-story, elevated/stilt-construction buildings totaling ±59,850 net rentable square feet on a ±1.74-acre site, with a unit mix of 25 one-bedrooms, 28 two-bedrooms, and 13 three-bedrooms averaging ±907 square feet, plus on-site parking and pool areas. At 7.58% occupancy, the asset offers a rare lease-up and stabilization opportunity, with substantial upside available through targeted renovations, unit restoration, and operational repositioning. The elevated construction reduces storm-surge and flood exposure relative to typical Gulf Coast product, a meaningful structural advantage in this market. Positioned one block from Galveston Beach along Stewart Road, a primary commercial corridor carrying nearly 6,000 vehicles per day, the Property sits within two miles of national retailers including Walmart, Kroger, and Randalls, and benefits from the island's tourism, healthcare, education, port, and maritime demand drivers. With population growth of 19.21% from 2020–2025 and 6.3% projected through 2030 within five miles, Gulfwind Apartments presents investors a high-upside coastal multifamily turnaround in a growing, demand-rich submarket.

Auction Opens: August 17th, 12pm
Auction Ends: August 19th, 12pm