$5,799,000 USD
Multi Family Home for Sale, 1020 N Riverside Drive, Pompano Beach, Florida 33062
- MLS#RX-11155485
- Home/Lot size
989 m² (10,642 ft²)
Listed By Compass Florida LLC
The Multi Family Home for Sale located at 1020 N Riverside Drive, Pompano Beach, Florida 33062 is currently for sale. 1020 N Riverside Drive, Pompano Beach, Florida 33062 is listed for $5,799,000.
Property features
Property
- Property size:
989 m² (10,642 ft²) - Features: Porch OpenBalconyDeck
Lot/Land
- Land/Lot size:
2,327 m² (25,048 ft²) - Lot description: FencedSprinkler System
Construction
- Year built: 1964
- Roofing: Composition/shingle
- Construction: Cbs Construction
Interior Features
- Floors: TileVinyl
Exterior Features
- Outdoor spaces: BalconyDeck
- Carport spaces:
Pool and Spa
- Pool: Private Pool
View
- Features: Ocean ViewIntra Coastal
Heating and Cooling
- Heating system: ElectricCentral (building)
- Cooling system: Ceiling FanElectric
Utilities
- Other utilities: Public Sewer
Description
RARE OPPORTUNITY TO ACQUIRE AN 8.0% CAP RATE PROPERTY! Incredible opportunity to acquire a 28-unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 70% leased and in the process of being fully stabilized, offering immediate upside for investors. At full occupancy, the asset is projected to gross $50,000 per month in long term rental income and an additional $150,000+ from vacation rentals, with an NOI approaching $500,000 annually--making this a high-yielding cash-flow investment. Located less than 300 yards from Pompano's pristine public beaches! Views of both the intracoastal and the ocean!
Location
1020 N Riverside Drive, Pompano Beach, Florida 33062