126 NE 19th Ave - Apartments FOR SALE


Pompano Beach, FL 33060- Outer Pompano Beach/Deerfield Beach
$1,100,000 USD
954-245-3459
126 NE 19th Ave, Pompano Beach, FL for Sale
$1,100,000 USD
Apartments - FOR SALE
1/29
null | 6.52% Cap Rate


HIGHLIGHTS

  • Contiguous Duplex Buildings, Quiet Single Family Residential Location, Significant New Development in Submarket
  • Extensive Renovations Recently Completed, Excellent Short- and Long-Term Rental Potential
  • Private Garage and Lots of Parking
  • Large Private Patios and Balconies
  • Walking Distance to Publix and the Beach, Excellent East Broward County Location
  • Walking Distance to Schools and Public Parks, Two Blocks West of Federal Highway (US-1)

OVERVIEW

Marcus & Millichap, as exclusive listing agent, is pleased to offer for sale Pinehurst Apartments, a four-unit apartment community located in the city of Pompano Beach, Florida. The property is located just one block north of Atlantic Boulevard and two blocks west of Federal Highway (US 1), both heavily traveled thoroughfares that span Broward County and provide quick access to Interstate 95, Downtown Fort Lauderdale, and an array of employment, retail, restaurants, and entertainment centers. The property consists of a one-story duplex and a two-story duplex; both located on the same parcel. The unit mix is comprised of one studio and three one-bedroom apartments. Additionally, there is a private garage with washer/dryer hook-ups. Each building has its own electric meter and there is one water meter. The owner has implemented a RUBS program. There are a total of 9 parking spaces including the garage. The upstairs apartment has a 14-foot vaulted ceiling, large kitchen with granite countertops and stainless appliances, stain glass windows, and a large wooden balcony accessed by a sliding glass door. The other apartments have a large backyard or patio. Due to a recent fire, both buildings required significant renovations. The two-story building was taken down to the studs and completely rebuilt, including roof, mechanical, plumbing, electric, windows, doors, appliances, etc. The front building required new mechanical, plumbing, flooring, finishes, etc. Both buildings are completed, and the owner has recently started leasing units. What adds to the appeal of Pinehurst Apartments is that it is within walking distance of Pompano Beach High School and Elementary School, Pompano Beach Baseball Complex and Community Park, the Aquatics Center, Tennis Center, Pompano Beach Amphitheater, Civic Center, Kester Park, McNab Park and the Pompano Beach Park, Pier, and beach. Furthermore, Publix Supermarket is just a few blocks to the east. Pinehurst Apartments offers the opportunity for a buyer to acquire a turnkey property in a very desirable location with the potential of operating as short-term rentals or with long-term leases. Due to the excellent location, condition of the property and strong rental market, a new owner should have no problem quickly leasing the vacant apartments at market rents.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$402 USD /SF

# OF UNITS

4

PRICE/UNIT

$275,000

CAP RATE

6.52%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Pinehurst Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1952

PARKING SPACES

9

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,970 SF

ZONING

RD-1

APN/PARCEL ID

48-42-36-01-1541

ASK ABOUT THIS PROPERTY

Evan KristolMarcus & MillichapMore Info
954-245-3459

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Evan KristolMarcus & MillichapMore Info
954-245-3459

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