Address: 1020 Riverside Drive, Pompano Beach, FL 33062
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 annuallymaking 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!
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 annuallymaking 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!
Features
Building and Construction
Exterior Features: Balcony
Fencing: Fenced
Flooring: Tile, Vinyl
Roof: Composition
School Information
High School: Blanche Ely
Middle School: Pompano Beach
School Elementary: Pompano Beach
Eco-Communities
Pool Features: In Ground
Water Source: Public
Utilities
Cooling: Ceiling Fan(s), Central Individual, Electric
Heating: Central Building, Central Individual, Electric
Sewer: Public Sewer
Utilities: Sewer Available, Water Available
Amenities
Association Amenities: Pool
Finance and Tax Information
Tax Year: 2025
Rental Information
Tenant Pays: Cable TV
Other Features
Legal Description: POMPANO BY THE SEA RESUB 1-22 B LOTS 21 & 22 TOG/W LOT ''B'', BLK 8
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