1020 N Riverside Dr - Hospitality FOR SALE


Pompano Beach, FL 33062- Outer Pompano Beach/Deerfield Beach
$6,499,000 USD
561-789-7208
1020 N Riverside Dr, Pompano Beach, FL for Sale
$6,499,000 USD
Hospitality - FOR SALE
1/23
null | 6.49% Cap Rate

1020 N Riverside Dr
Pompano Beach, FL 33062
Outer Pompano Beach/Deerfield Beach


HIGHLIGHTS

  • Cash-Flowing Multifamily Property East of The Intracoastal
  • Walking Distance to Public Beaches - Less Than 250 Yards
  • Current Zoning Allows Property to Operate as Multifamily, Hotel, Motel, ALF, etc.

OVERVIEW

Incredible opportunity to acquire a 26-unit multifamily property located just steps from the beach in booming Pompano Beach. The property is approximately 50% leased and in the process of being fully stabilized, offering immediate upside for investors. At full occupancy, the asset is projected to gross nearly $50,000 per month in rental income (annual rentals), with a net operating income approaching $400,000 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! Ideally positioned east of the intracoastal and one block from the Intracoastal, the property is walkable to the beach, Pompano Pier, and the newly revitalized Fishing Village. This area has become a destination with major public and private investment pouring in, including high-end residential towers, hotel-branded residences, and infrastructure upgrades, including marquee projects like the Waldorf Astoria Residences (70?% presold), Ritz-Carlton and Armani/Casa towers, Salato condos, and Mayla multifamily communities — underscoring strong investor confidence. Pompano Beach’s transformation into a premier coastal hotspot makes this an attractive long-term hold. With strong fundamentals, a desirable location, and significant income potential, this is a rare opportunity to invest in one of South Florida’s most exciting and fast-growing beachfront markets. Property is projected at a cap rare of 6.50% once property is fully leased out and stabilized. Contact today for more details.

FOR SALE DETAILS

PRICE

$6,499,000 USD

PRICE/SF

$611 USD /SF

# OF ROOMS

22

PRICE/ROOM

$295,409 {currency}

CAP RATE

6.49%

STATUS

Converted

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pompano Beachside Multifamily Complex

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

2

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1964

PARKING SPACES

24

LAND DETAILS

LAND ACRES

0.58 AC

LAND SF

25,265 SF

ZONING

RM-20

APN/PARCEL ID

48-43-30-01-0670

ASK ABOUT THIS PROPERTY

Sean MooneyColdwell Banker Hometown Real EstateMore Info
561-789-7208

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Sean MooneyColdwell Banker Hometown Real EstateMore Info
561-789-7208

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.