$295,000
A vacant four-unit building on Galveston Island, with each unit configured as one bedroom and one full bath. Built in 1960, two stories, approximately 2,210 square feet per public records on a 0.0496 acre lot in the Galveston Outlots subdivision. Composition roof, cement board and wood siding, tile flooring, alley access, and a level lot.
This property is an unfinished flip. Renovation was started and is not complete. A full interior cleanout was finished in August 2026, so the units are open and easy to walk and scope. The buyer takes over and completes the remaining renovation. Budget for finish work throughout, including mechanical, electrical, and plumbing verification, kitchens, baths, and cooling. Pricing and photos reflect current condition, not a finished product.
All four units are vacant with no leases in place, which gives a new owner immediate control of the entire building: finish on your own timeline, choose your own scope, and set your own strategy without inheriting tenants or existing agreements.
The property is in FEMA flood zone AE, a Special Flood Hazard Area, with a base flood elevation of 10 feet. Flood insurance will be a factor and buyers should obtain quotes and an elevation certificate during due diligence.
Sold strictly AS-IS, WHERE-IS, with no repairs and no warranties expressed or implied. Seller will not accept FHA or VA financing. Cash or conventional only. Showings by appointment with a combination lockbox.
Bring your contractor, verify your numbers, and evaluate the building on its current condition and your own projections.
Buyer and Buyer's agent to verify all information including but not limited to schools, square footage, taxes, HOA, room dimensions, flood zone, and any other material facts.
3617307
MLS
1911 40th St, Galveston